Jeff Bezos Reportedly Backs Unknown US Startup Developing Electric Trucks

Jeff Bezos, currently the world’s second-wealthiest person, and best known as the founder and former CEO of Amazon, has reportedly invested in a little-known EV startup called Slate Auto. TechCrunch reports exclusively that the Michigan-based startup was founded in 2022 and is primarily working on an electric two-seat pickup truck which it aims to price below $25,000 (equivalent to ₹21,63,550). 

Production could begin in late 2026. Such a vehicle at this price could be extremely popular in the US, with sources cited by TechCrunch equating it to the Ford Model T and Volkswagen Beetle in terms of mass appeal. A proof-of-concept vehicle has purportedly already been demonstrated to investors. The company's strategy is said to be explicitly to target the mass market, rather than launching with a premium model.

The company’s website is currently blank, other than the words “Things are about to get very interesting” and a contact form that people can fill in to receive updates when it is ready to announce anything. 

Slate Auto was founded as a division of Re:Build Manufacturing, which in turn was co-founded by Jeff Wilke, formerly Amazon’s CEO of Worldwide Consumer and Miles Arnone, whose experience was in industrial private equity and manufacturing. Other former high-ranking Amazon executives are now in leadership roles at Re:Build, as per its own website. The company has a mission to revitalise the American industrial, engineering, and manufacturing sectors.

While the extent of Bezos’s personal investment has not been disclosed, Slate Auto has raised at least $111 million (approximately ₹961 crore) in its Series A round in 2023. A Series B round was concluded in late 2024 but the startup has not yet disclosed how much it raised. Interestingly, Slate Auto is also said to be developing a line of branded accessories and lifestyle merchandise to generate significant revenue.  

Hundreds of employees are said to have been hired from established automotive companies including Ford, General Motors, Stellantis, Rivian, and Harley-Davidson. Its CEO is Christine Barman, who previously worked at DaimlerChrysler and Fiat Chrysler Automobiles from 2004 to 2017 and then briefly at HCL as its Global VP – Strategic Business Development and Solutions – Transportation from 2021 to 2022. 

As per regulatory filings, Slate Auto’s board members include Mark Walter, owner of the LA Dodgers baseball team and CEO of financial services firm Guggenheim Partners, as well as Thomas Tull, a billionaire entrepreneur who invests in AI and data science companies.