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Javier Lacort
Senior WriterI write long-form content at Xataka about the intersection between technology, business and society. I also host the daily Spanish podcast Loop infinito (Infinite Loop), where we analyze Apple news and put it into perspective.
Karen Alfaro
WriterCommunications professional with a decade of experience as a copywriter, proofreader, and editor. As a travel and science journalist, I've collaborated with several print and digital outlets around the world. I'm passionate about culture, music, food, history, and innovative technologies.
Amazon founder Jeff Bezos is now backing a new frontier: affordable electric vehicles (EVs). Bezos is the quiet force behind Slate Auto, a startup developing a compact electric pickup priced at just $25,000, according to TechCrunch.
Why it matters. Unlike most EV startups targeting the high-end market, Slate is flipping the script by chasing mass adoption. As growth slows for major players like Tesla, which has seen its valuation slide, Slate is betting on volume over margins.
Behind the scenes. Slate was spun out of Re-Manufacturing, another Bezos-backed venture co-founded by former Amazon Consumer CEO Jeff Wilke. Since its inception in 2022, Slate has pulled in talent from Ford, GM, Stellantis, Harley-Davidson—and, of course, Amazon.
The numbers. Slate raised at least $111 million in a 2023 Series A round. Delaware filings show the company has since authorized nearly 500 million preferred shares for a Series B at $2.37 per share—bringing its potential valuation close to $1.2 billion.
Other major backers include Mark Walter, majority owner of the Los Angeles Dodgers, and Thomas Tull, lead investor in Re-Manufacturing.
Strategy. The company’s first vehicle, a two-seater electric pickup, embraces a minimalist design philosophy inspired by the Ford Model T and Volkswagen Beetle. Slate plans to supplement low margins with a lineup of modular accessories, echoing models like Harley-Davidson’s parts business or Stellantis’ Mopar division.
What’s next? Production is scheduled to begin in late 2026 at a facility in Indiana. A prototype has already been spotted on the streets of Los Angeles—photos surfaced on Reddit and were later picked up by Carscoops. The design looks simple and utilitarian, a far cry from the aggressive angles of Tesla’s Cybertruck.
Following TechCrunch’s exclusive and the leaked prototype, Slate may finally start sharing more about its vision—after months of cryptic communications.
Image | National Museum of American History Smithsonian Institution | Reddit
Related | Shaquille O’Neal Reveals How He Quadrupled His Fortune Using Jeff Bezos’ Investment Philosophy
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