Slate raises $650 million to make its budget electric truck

Slate Auto, a Bezos-backed EV startup, raised $650 million in Series C funding led by TWG Global to accelerate production of its affordable electric pickup truck targeting the mid-$20,000s price point. The company has 160,000 pre-orders for its modular Slate Truck and plans to begin deliveries later this year. Production will occur at a $400 million factory in Warsaw, Indiana, expected to create over 2,000 jobs.