Slate Auto, backed by tech tycoon Jeff Bezos and LA Dodgers owner Mark Walter, has announced it will start taking pre-orders for its low-cost electric vehicle on June 24. The company plans to deliver the first units later this year.
Despite the promising start, Slate's pricing remains a mystery. Previous claims suggested the base model would start at under $20,000 with a federal tax credit, now reduced to mid-$20,000 range due to its cancellation by the Trump administration.
The startup has garnered significant interest; over 160,000 potential customers have made non-refundable $50 reservations since its reveal last year. However, converting pre-orders into actual sales remains a challenge faced by many EV startups.
To address this, Slate appointed Peter Faricy as CEO in March. A former Amazon Marketplace vice president, he brings valuable experience to the table following a series of leadership positions filled by ex-Amazon executives.
Slate’s financial arm seems robust, with a $650 million Series C funding round, bringing its total funding close to $1.4 billion, largely from Walter's financial firm TWG Global. Bezos's level of involvement has remained unclear beyond the initial round.
