Jeff Bezos Supports $25K Electric Truck Launch

Slate Auto, an electric vehicle startup backed by Jeff Bezos, plans to launch a $25,000 electric pickup truck, aiming to make EVs more affordable for the mass market. Founded in 2022, the company operates with discretion, releasing little information about its two-seat truck, although insiders liken it to affordable automotive icons like the Ford Model T and VW Beetle. The startup, originating from Bezos' Re:Build Manufacturing, has attracted talent from major automakers including Ford and GM, and has raised $111 million in Series A funding. Slate Auto plans to start production in Indiana by 2026, with a business model similar to Jeep's, focusing on high-margin accessories to offset low vehicle profit margins. This effort is part of Bezos' broader involvement in the EV sector, including substantial investments in Rivian. The initiative represents a potential shift in the EV market, which has struggled to offer affordable models, with current electric trucks typically priced much higher.