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Slate Auto, a Jeff Bezos-backed developer of affordable electric pickup trucks, is raising around $500 million in Series D funding, Axios Pro has learned.

Why it matters: The startup expects to begin delivering its sub-$30,000 EV as soon as this year.

Inside the room: The round's structure is still being determined, but will likely include both equity and debt.

Follow the money: Slate Auto announced a $650 million Series C round in April and has amassed nearly $1.5 billion since its 2022 launch.

The Troy, Mich.-based company's relatively short list of investors includes Bezos Expeditions, General Catalyst, Slauson & Co., TWG Global, View Different, and Walter Group.

State of play: Slate Auto in June began accepting $300 preorders for its bare-bones electric pickup truck at a starting price tag of $24,950.

The two-seater features hand-crank windows, manually adjusted mirrors, and no built-in stereo or infotainment system — all aimed at keeping costs low.

Slate estimates the pickup will offer 205 miles of driving range, 2,000-pound towing capacity and 1,550-pound payload capacity.

It plans to produce the trucks in Warsaw, Indiana, where it's investing close to $400 million.

What we're watching: Ford says the first model produced on its new low-cost electric vehicle platform will be a truck called Fathom and have a starting price of $28,350. The new model is arriving in 2027.

Slate Auto declined to comment. Slate's investors did not respond to a request for comment.

Scoop: Slate Auto raising $500M for low-cost electric pickups

The round comes on the heels of its $650 million Series C.

A gray Slate Auto electric pickup prototype is parked on the side of a road, by leafy trees, an open grassy field, and a clear blue sky.

Slate Auto's debut pickup starts as the "blank Slate" but can be customized with color wraps and other features from a forthcoming online marketplace. Photo: Alan Neuhauser/Axios

Slate Auto, a Jeff Bezos-backed <a class="gtmContentClick" data-vars-link-text="developer" data-vars-click-url="https://www.axios.com/pro/climate-deals/2025/04/25/bezos-slate-launches-ev" data-vars-content-id="fe8c4a7f-5c20-4ac1-9827-16f3c35cf38b" data-vars-headline="Scoop: Slate Auto raising $500M for low-cost electric pickups" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/climate-deals/2025/04/25/bezos-slate-launches-ev" target="_self">developer</a> of affordable electric pickup trucks, is raising around $500 million in Series D funding, Axios Pro has learned.Why it matters: The startup expects to begin delivering its sub-$30,000 EV as soon as this year.

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Scoop: Slate Auto raising $500M for low-cost electric pickups

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