Slate Auto Raises Funding Led by TWG Global Amid EV Market Challenges
Slate Auto's latest funding round was led by existing investor TWG Global, bringing the company's total funding to roughly $1.4 billion. The electric vehicle startup, founded in 2022, targets the low-end market with a bare-bones electric truck starting in the mid-$20,000s. TechCrunch reported on the company's investors and leadership changes.
China News Service / Wikimedia (CC BY 3.0)Latest Funding Round Slate Auto's latest funding round was led by existing investor TWG Global.
TWG Global is a firm run by LA Dodgers owner Mark Walter. 4 billion to date. , and former Amazon executive Diego Piacentini. TechCrunch first reported on Slate Auto's investors last year. Slate Auto's Series C funding round occurred at a turbulent moment for the electric vehicle market in the United States.
Leadership Changes Slate Auto installed former Amazon Marketplace VP Peter Faricy as CEO.
Former CEO and Chrysler veteran Chris Barman moved to a new role as President of Vehicles at Slate Auto. Slate Auto recently said that it tapped Peter Faricy as its new CEO in part to get working on converting reservations into paid orders. Slate Auto was co-founded by Amazon's former Consumer CEO Jeff Wilke.
The heads of Slate Auto’s mobility team used to work at Amazon. The heads of Slate Auto’s user experience/user interface team used to work at Amazon. The heads of Slate Auto’s e-commerce team used to work at Amazon.
The heads of Slate Auto’s fleet sales team used to work at Amazon. The heads of Slate Auto’s HR team used to work at Amazon.
Company Background and Product Plans Slate Auto was founded in 2022.
Slate Auto emerged from stealth in 2025. Shortly after emerging from stealth in 2025, Slate Auto was promoting a starting price of under $20,000 for the truck with the federal tax credit applied. Slate Auto is targeting the extreme low-end of the market with a bare-bones electric truck expected to start in the mid-$20,000s.
Customers will be able to customize the Slate Auto truck in various ways for more money, including adding an SUV conversion kit for around $5,000. Slate Auto originally planned to price the truck around $27,000. Final pricing for the Slate Auto truck is coming in June, according to the company.
Slate Auto has racked up more than 160,000 refundable reservations for its EV. Slate Auto is spending a few hundred million dollars renovating a former printing factory in Indiana where it plans to build the EVs.
EV Market Context The $7,500 federal tax credit for electric vehicles was lost last year.
Tesla's overall sales have declined two years in a row. Rivian and Lucid Motors have struggled to reach scale. Rivian is launching new, more affordable models this year. Lucid Motors is launching new, more affordable models this year.
Story Timeline
5 events- 2026-04 (current)
Slate Auto's latest funding round led by TWG Global; total raised $1.4 billion.
1 sourceTechCrunch - Recent
Peter Faricy installed as CEO; Chris Barman moves to President of Vehicles.
1 sourceTechCrunch - 2025
Slate Auto emerges from stealth; promotes truck price under $20,000 with tax credit.
1 sourceTechCrunch - Last year (2025)
$7,500 federal tax credit for EVs lost; TechCrunch reports on investors.
1 sourceTechCrunch - 2022
Slate Auto founded by Jeff Wilke and others.
1 sourceTechCrunch
Potential Impact
- 01
Loss of federal tax credit may slow overall EV adoption, affecting competitors like Rivian and Lucid.
- 02
Leadership from Amazon alumni may accelerate e-commerce and fleet sales integration for Slate Auto.
- 03
Renovation of Indiana factory supports domestic EV production amid supply chain shifts.
- 04
Slate Auto's low-end truck could increase EV accessibility in the US market.
- 05
Converting 160,000 reservations to orders could boost Slate Auto's revenue and market position.
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