Slate Auto Raises $650 Million in Funding Round Led by TWG Global
Slate Auto secured $650 million in its latest funding round, led by TWG Global, bringing total funding to $1.4 billion. The company, founded in 2022, has over 160,000 reservations for its $25,000 customizable pickup truck unveiled in June 2023. Slate Auto plans to manufacture vehicles in a renovated Indiana factory.
medium.comFunding Round Details Slate Auto raised $650 million in its latest funding round led by TWG Global, according to TechCrunch.
4 billion to date. , and former Amazon executive Diego Piacentini. TWG Global is run by Mark Walter, owner of the LA Dodgers. Slate Auto was co-founded by Jeff Wilke, former Consumer CEO of Amazon. Heads of Slate Auto’s mobility, user experience/user interface, e-commerce, fleet sales, and HR teams previously worked at Amazon.
Leadership Changes Slate Auto installed former Amazon Marketplace VP Peter Faricy as CEO, per TechCrunch.
Former CEO Chris Barman, a Chrysler veteran, moved to the role of President of Vehicles. The company was founded in 2022. Slate Auto plans to build its electric vehicles in a former printing factory in Indiana.
The company is spending a few hundred million dollars renovating the factory.
Product and Reservations Slate Auto secured over 160,000 reservations for its first product, a fully customizable pickup truck, according to Benzinga.
The pickup truck is touted to be sold for $25,000. Slate Auto unveiled its pickup truck in June 2023. 7kWh battery. It has a 1,400-pound payload capacity. Slate Auto offers a larger battery option for its pickup truck.
Story Timeline
4 events- 2026-04-14
Slate Auto raises $650 million led by TWG Global.
1 sourceTechCrunch - Recent
Peter Faricy installed as CEO; Chris Barman moves to President of Vehicles.
1 sourceTechCrunch - June 2023
Slate Auto unveils pickup truck.
1 sourceBenzinga - 2022
Slate Auto founded.
1 sourceTechCrunch
Potential Impact
- 01
Enables factory renovation and production scaling for EVs.
- 02
Facilitates leadership stability with experienced executives.
- 03
Supports development of customizable pickup truck with high reservations.
- 04
Strengthens Slate Auto's position in affordable EV market.
- 05
Attracts further investment from tech and automotive sectors.
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