Slate Auto secured $650 million Series C funding led by TWG Global to accelerate its mid‑$20,000 electric pickup launch by year‑end.
The company plans to invest $400 million converting an idle Warsaw, Indiana printing plant into a production facility for the new truck.
Over 160,000 customers placed $50 refundable deposits, while the base model will lack standard comforts, offering optional accessories later.
Peter Faricy, former Amazon and SunPower CEO, was appointed CEO in March, joining investors Jeff Bezos, General Catalyst and Slauson & Co.