Slate Auto's $650M funding round

Slate Auto's latest capital injection will fund the production of its bare-bones EV truck, which has already secured over 160,000 reservations.

The startup, which is also backed by Jeff Bezos, plans to begin deliveries later this year from its manufacturing facility.

CEO Peter Faricy stated that the company is focusing on extreme customization and affordability rather than government incentives to attract mass-market buyers.

The funding comes at a critical time as major automakers like Mercedes-Benz pause their luxury EV lineups due to cooling demand.