Jeff Bezos's electric vehicle startup Slate Auto is preparing to open preorders. The company announced it will officially open preorders on June 24 for its ultra-affordable EV, sending emails to prospective buyers this week urging them to lock in reservations before orders begin.
Slate still hasn't revealed what this thing actually costs.
The company previously teased a starting price under $20,000 with the federal tax credit, but that credit was eliminated by the Trump administration last year. Now Slate is saying the vehicle will land in the "mid-$20,000 range." The company is still determining the final price and is not yet ready to announce it.
Buyers have shown significant interest. More than 160,000 people have already placed $50 refundable reservations for the vehicle. The four-year-old startup—backed by Bezos and LA Dodgers owner Mark Walter—is betting on a simple, customizable vehicle that can function as either a two-seater truck or a five-seater SUV depending on customer preference and budget.
Slate has substantial funding. In April, the company closed a $650 million Series C round, bringing total funding to roughly $1.4 billion. Much of that cash appears to come from Walter's financial firm, TWG Global. Bezos's involvement in recent funding rounds remains unclear—his family office manager stepped down from Slate's board in May.
The company also hired a new CEO in March: Peter Faricy, a former Amazon Marketplace executive, joining a leadership team heavily composed of ex-Amazon personnel. First deliveries are set for late 2026, so Slate customers will finally receive their vehicles soon—assuming the company can execute what so many other EV startups have failed to do.
