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Slate Auto
Fintech
Slate Auto is a Troy, Michigan-based electric vehicle startup, reportedly backed by Jeff Bezos, developing a deliberately stripped-down, highly customizable electric pickup truck starting under $25,000.
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Slate Auto was founded in 2022 as a spinout from Re:Build Manufacturing, the brainchild of industrial turnaround executive Miles Arnone and Jeff Wilke, the former head of Amazon's worldwide retail operations, with backing from Amazon founder Jeff Bezos and Los Angeles Dodgers controlling owner Mark Walter, though the company operated in near-total secrecy for roughly three years before a TechCrunch investigation and the company's own subsequent public unveiling in April 2025 revealed its existence and ambitious plans to the broader auto industry, having quietly built prototypes and a small-scale production capability in suburban Detroit without detection by major established automakers based nearby. Slate's core product strategy deliberately inverts the industry trend toward increasingly feature-laden, expensive vehicles: its electric pickup truck, revealed with a base price of $24,950 before applicable tax incentives, strips away features many consumers take for granted in a modern vehicle, including power windows, a touchscreen infotainment system, and other common comfort and convenience features, instead offering a deliberately bare-bones "blank canvas" vehicle that owners can customize and add features to over time through an accessories marketplace the company plans to build, drawing conceptually on the customization culture historically associated with vehicles like Jeep Wranglers, while keeping the base vehicle's manufacturing cost, and therefore its price, dramatically lower than most other new vehicles, electric or otherwise, currently available in the U.S. market. The vehicle can also be configured as a small SUV rather than only a pickup truck bed configuration. Slate attracted more than 100,000 refundable deposit reservations following its public unveiling, and the company is converting a formerly idled printing plant in Warsaw, Indiana into its production facility with a reported $400 million investment. The company named Peter Faricy, a former Amazon executive and SunPower CEO, as its chief executive in 2026, and has raised more than $1.3 billion in total funding across three rounds, most recently a $650 million Series C led by TWG Global at a valuation reported around $1.2 billion or higher, positioning Slate as a notable outlier in an EV startup sector that has otherwise seen numerous bankruptcies and struggles.
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