Slate Auto Secures $650 Million in Funding to Launch Affordable Electric Pickup Truck

[Funding] Slate Auto, backed by Jeff Bezos, has closed a $650 million Series C funding round and plans to deliver an affordable electric pickup truck in 2026.

Core Development: $25,000 base-model pickup truck to enter mass production and delivery in late 2026

Slate Auto announced its simplified two-seat electric pickup will be priced at approximately $25,000 (around RMB 170,000), offered in two range variants: 150 miles or 240 miles. The vehicle will be manufactured at the Warsaw, Indiana factory, which is expected to receive an investment of nearly $400 million.

Key Metrics: Over 160,000 reservations secured; Series C valuation reaches $1.2 billion

This funding round was led by TWG Global, which has continuously invested in the company since 2024. To date, Slate has accumulated more than 160,000 user reservations, highlighting strong market demand for low-cost electric pickups.

Strategic Foundation: Entering a pressured market with a "bare-bones vehicle + on-demand customization" model

Amid the elimination of U.S. federal EV tax credits and widespread industry losses, Slate has adopted an ultra-minimalist configuration strategy. Customers can later add modules such as audio systems and storage solutions, aiming to strike a balance between cost efficiency and flexibility.