News Summary

Jeff Bezos is backing a new electric vehicle startup, Slate Auto, which aims to produce an affordable two-seat electric pickup truck priced around $25,000. Founded in 2022, the Michigan-based company has operated quietly, raising at least $111 million in Series A funding in 2023 and closing a Series B round later that year. Slate Auto plans to start production by late 2026 near Indianapolis and will offer a range of accessories to supplement its low-margin truck sales. The company’s leadership includes former executives from Harley-Davidson and Stellantis. The startup has also attracted investments from other high-profile individuals such as Mark Walter and Thomas Tull.