Slate Auto, an electric vehicle startup supported by Jeff Bezos and LA Dodgers owner Mark Walter, is set to announce pricing and commence non-refundable preorders for its budget-friendly EV on June 24. This announcement comes as the company gears up for its first deliveries later this year.
In a recent communication to potential buyers, Slate Auto encouraged early reservations with a $50 deposit, allowing customers to secure a delivery window ahead of those who wait for the $300 preorder option available next month.
Previously, Slate Auto indicated that pricing would be disclosed in June. An FAQ section on the preorder page confirmed the June 24 announcement date. The company has not provided further comments on this matter.
Company Background
Founded four years ago, Slate Auto emerged from stealth mode in April 2025, revealing plans to produce a customizable, low-cost electric vehicle. The base model was initially projected to start at under $20,000, factoring in a $7,500 federal tax credit, which has since been eliminated. Currently, the company states that the vehicle will be priced in the mid-$20,000 range.
Consumer Interest
The concept of a straightforward EV, featuring basic amenities like hand-crank windows and no paint, has attracted significant consumer interest. Since its unveiling last year, Slate Auto has received over 160,000 refundable $50 reservations. However, converting these reservations into actual sales remains a challenge, as evidenced by the experiences of other EV startups.
Leadership Changes
To address these challenges, Slate Auto appointed a new CEO in March. Peter Faricy, a former vice president at Amazon Marketplace, now leads the company, which has seen many of its leadership roles filled by former Amazon executives.
Funding and Financial Support
Slate Auto has secured substantial financial backing to support its manufacturing and delivery efforts. In April, the company announced the closure of a $650 million Series C funding round, bringing its total fundraising to approximately $1.4 billion. Much of this funding is believed to have originated from Walter's financial firm, TWG Global.
While Bezos was involved in the initial funding, his ongoing participation in subsequent rounds has not been clearly defined. Recent reports indicated that his family office manager stepped down from Slate's board of directors.
This story has been updated to reflect that Slate Auto will announce pricing on June 24.
