Slate Electric Vehicles has announced that it has secured $7 billion in funding as it prepares to launch its new electric vehicle lineup. This announcement came on May 9, 2025, at 22:21 in the global market.
The company, founded by Jeff Bezos and Mark Walter, has already completed Series A and Series B funding rounds and is currently seeking Series C funding. According to reports, the company has raised approximately $1.1 billion to date.
Chris Barman, Slate’s CEO, stated, “We have successfully completed our Series A funding. General Catalyst is one of our primary investors, and we have already raised $7 billion.” This significant amount sets the stage for a new player in the automotive industry.
Slate plans to utilize advanced manufacturing techniques and intends to produce vehicles without the need for traditional assembly lines. The company also aims to establish a manufacturing facility in North America, with plans to reach a production capacity of 150,000 vehicles annually by 2027.
According to Slate, production is expected to commence in 2026. The company aims to launch vehicles that will compete with established brands like Rivian and Lucid Motors. Barman commented, “We believe that our vehicles will offer competitive features and pricing, which will allow us to carve out a niche in the market.”
Slate’s vehicle offerings will include a compact electric car that is expected to be priced around $20,000 and will feature a single color option, which is stone gray.
The electric vehicle will be available with two battery options: a 52.7 kWh battery providing a range of 150 miles and an 84.3 kWh battery offering a range of 240 miles.
Additionally, the vehicle will feature a robust design, allowing for various customization options, including the addition of larger tires and possibly an SUV variant. This flexibility is expected to attract a wider customer base.
Slate’s pricing strategy will include options to choose various enhancements, with a straightforward pricing model that appeals to budget-conscious consumers. Their customer service will be integrated into the Slate App, providing users with easy access to vehicle information and updates.
The company has ambitious plans and is confident that its innovative approach will enable it to thrive in the competitive electric vehicle market.
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