Jeff Bezos is quietly placing a big bet on the future of electric vehicles through a startup called Slate Auto, according to TechCrunch.
The secretive company has raised at least $111 million in a Series A round to fund the creation of a two-seat electric pickup truck priced around $25,000, according to a public filing.
Slate Auto launched in 2022 inside Re:Build Manufacturing, a company connected to Bezos’ network. It has been flying under the radar, quietly hiring hundreds of employees, many of whom have worked at Ford (NYSE:F), General Motors (NYSE:GM), Stellantis (NYSE:STLA), and Harley-Davidson (NYSE:HOG). Slate has also attracted other marquee investors, including Mark Walter, controlling owner of the Los Angeles Dodgers, and Thomas Tull, an early investor in Re:Build Manufacturing, TechCrunch reported.
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The company’s mission is ambitious. The anonymous sources cited by TechCrunch say Slate leaders often point to the Ford Model T and Volkswagen Beetle as inspiration, hoping to build a vehicle that could become a “first car” for many buyers.
Slate also aims to sell a line of accessories and apparel to go with the small margins of its low-cost truck, a strategy that will be familiar to Harley-Davidson and Jeep-maker Stellantis veterans, many of whom have now taken up residence in Slate’s executive ranks.
Christine Barman, Slate’s CEO, and a longtime Chrysler veteran, is leading the company with a steady hand. In an interview with Career Girls, Barman reflected on her career path, saying, “I love the fact that I can take something from a concept and see it all the way through to production and then see it on the road.”
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Slate’s Series A fundraising included investments from Bezos’ family office, overseen by Melinda Lewison, who is listed as a director in company filings. According to TechCrunch, the company has authorized hundreds of millions of preferred and common shares, hinting at even larger funding rounds ahead. Although specific amounts invested by Bezos have not been disclosed, documents show his direct participation with other wealthy individuals.
