EV startup Slate Auto is moving quickly on plans to launch a sub-$30,000 mini-pickup out of a brownfield site in the Midwest, drawing 100,000 customer reservations and $700 million in financing, the company said.
“America has shown that it wants what we’re making,” Slate said in an email. The startup opened reservations — with a modest $50 refundable deposit — when it revealed its two-door pickup April 24.
Slate, which is targeting late-2026 production, also revealed more information about top financial backers after quietly building in “stealth mode” since 2022. One key investor is Amazon founder Jeff Bezos, it said.
The Troy, Mich. startup said it’s raised $700 million and the latest funding round closed in late 2024. Slate said its biggest backers include investment funds Bezos Expeditions, General Catalyst and TWG Global.
General Catalyst is invested in a variety of brands, including Airbnb and Snapchat, its website says. TWG Global has investments in the L.A. Dodgers and Cadillac Formula 1 Team as part of its portfolio, it said.
Slate CEO Chris Barman is a former engineering vice president at Fiat Chrysler Automobiles. Other top executives have industry experience, including at EV maker Rivian, according to their LinkedIn profiles.
Slate plans to sell one basic vehicle configuration and offer a long list of accessories designed for do-it-yourself installation. The options to personalize the base vehicle are extensive, down to colorful decals.
The base “Blank Slate” is a rear-wheel-drive pickup similar in size to the subcompact Subaru Crosstrek. It has plastic body panels with no paint, comes without a radio and offers an estimated 150 miles of range, Slate said.
As part of the reservation process, Slate collects $50 and asks whether the buyer is interested in an “SUV Kit,” which is essentially a camper shell with three passenger seats, seat belts, airbags and a roll bar.
Slate also asks customers about their interest in an optional battery with around 240 miles of range. Slate hasn’t given prices for the upgrades beyond the estimated starting cost for a DIY body wrap at about $500.
The base pickup is expected to cost under $20,000 after federal incentives, the company said. Without the tax break, the price would be $7,500 higher, not including shipping. Slate didn’t provide shipping costs.
Accessory categories include: vinyls wrap including two-tone designs; bigger wheels and tires; lighting upgrades; bluetooth speakers; and an electric window kit to convert the standard, hand-crank windows.