Slate Auto Secures $700M, Slauson & Co. Backs EV Truck

Slate Auto, an emerging electric vehicle (EV) manufacturer, has successfully raised $700 million in total funding to date. Los Angeles-based venture firm Slauson & Co. emerged as an early investor in the company's 2023 Series A round, which secured over $100 million. This initial funding round also included participation from Jeff Bezos, Mark Walter, and General Catalyst.

Early Backing for Disruptive EV Truck

Slauson & Co. partners Ajay Relan and Austin Clements identified Slate Auto as a promising investment. They recognized the startup's mission to deliver affordable, reliable, and customizable vehicles manufactured domestically. Despite recent challenges faced by many EV startups, Slauson & Co. saw significant potential.

The firm's investment strategy often focuses on empowering underrepresented perspectives within the innovation economy. Furthermore, Slate Auto's leadership team, including CEO Chris Barman, impressed the investors with their extensive automotive industry experience. Barman previously spent over two decades at Chrysler. Chairman Rodney Copes and CFO Ryan Green also bring years of experience from Harley-Davidson and Rivian, respectively.

Slate Auto spun out of Re:Build Manufacturing, an incubator co-founded by former Amazon executive Jeff Wilkie. Wilkie introduced Slauson & Co. to the project in 2023. The venture firm also participated in Slate Auto's Series B funding round.

Slate Auto's customizable electric truck, unveiled earlier this year, aims to address the market need for affordable vehicles. The company quickly garnered over 100,000 refundable reservations within two weeks. This strong market reception indicates significant consumer interest, contrasting with higher-priced offerings like the Tesla Cybertruck or Ford F-150 Lightning. The truck is expected to reach the market in late 2026. This substantial capital infusion positions Slate Auto for continued development and production.