Slate Auto Secures $111M From Jeff Bezos And Guggenheim's Mark Walter To Build $20K Electric Truck, Challenging Tesla's Market Dominance
, the Jeff Bezos-backed EV startup making headlines for its stripped-back, deeply customizable approach, has raised over $111 million to bring its first vehicle, the 'Blank Slate,' to market by the end of 2026.
The startup is taking a different approach to electric vehicle design, stripping away traditional features in favor of simplicity. Its modular, paint-free, screen-free EV pickup has ignited curiosity for its affordability and customization stance, and now, with hundreds of millions in funding and over 400 employees, Slate Auto is scaling up for production in Indiana, TechCrunch writes.
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Slate Auto's vehicle enters the market with a dramatically different philosophy, Business Insider writes. Priced around $25,000, the truck comes without traditional paint or even power windows, but that's entirely intentional.
The design strips out traditional cost centers to maximize affordability while inviting consumers to build up the vehicle as their needs and budget evolve. Slate said it is launching with over 100 available accessories, including modular kits that transform the truck from a two-seater pickup into a five-passenger SUV.
Instead of a single, fixed model, buyers start with a platform that can be reshaped through 'starter packs' bundled customization options that include tech, comfort, or utility upgrades. According to TechCrunch, the base model offers a 150-mile range with a 52.7kWh battery and 1,400-pound payload capacity. A larger battery is optional, pushing the range up to 240 miles. Drivers can opt for entertainment screens, upgraded speakers, racks, light kits, and even branded tailgate wraps as aftermarket add-ons.
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Slate has also launched Slate University, a digital DIY learning hub offering how-to videos, installation support, and resources to help owners modify their vehicles on their own terms.
CEO Chris Barman, a longtime auto industry executive with roots at Chrysler, says Slate is offering more than a truck. "We are building the affordable vehicle that has long been promised but never been delivered," Barman said at Slate's unveiling on April 24 in Long Beach, California.
Slate Auto's $111 million Series A fundraising round is backed by high-profile investors, including Amazon (NASDAQ:AMZN) founder Bezos via his private family office, and Mark Walter, CEO of Guggenheim Partners and majority owner of the L.A. Dodgers.
According to TechCrunch, Walter has played a hands-on role in guiding Slate's early strategy through his existing manufacturing network. Other investors include early backers of Re:Build Manufacturing, where Slate Auto was initially incubated.
With this strategic funding in place, Slate joins a growing class of EV startups shifting their focus away from expensive, feature-heavy vehicles toward more scalable, accessible options for first-time EV buyers, as Business Insider reported.According to The Verge, Slate will begin production of its truck in a retooled facility located in Warsaw, Indiana. The move places Slate among a rising number of EV companies committing to domestic production as a means to stabilize supply chains and reduce costs, Business Insider reported.
Over 40 of job listings posted on LinkedIn show that the company is actively hiring across engineering, operations, and customer experience roles in preparation for its 2026 launch window.
While many EV startups have struggled to reach scale with premium offerings, Business Insider says that Slate is flipping that model entirely. Instead of building high-end vehicles and slowly lowering prices, the company is starting with affordability and betting that personalization and low barriers to entry will drive long-term loyalty.
The company's bold decision to deliver a truly modular EV has already separated it from competitors like Rivian (NASDAQ:RIVN), and from now-defunct challengers like Fisker and Canoo, which struggled with the capital-intensive path to production. Slate Auto's vision of 'personal, not premium' could represent a long-overdue shift in how electric vehicles are imagined, built, and sold in the U.S.
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