EV Startup Aiming for $25,000 Truck is Backed by Amazon’s Jeff Bezos
Future electric pickups are making plenty of headlines this week.
After Kia confirmed plans to launch one in North America by 2030, and reports suggested that Nissan is considering building one off its new EV platform, we hear that Amazon boss Jeff Bezos is secretly investing in a Troy, Michigan-based startup called Slate Auto, which aims to launch a low-price electric pickup in the near future.
- Also: Hyundai to Sell Cars Online Through Amazon Starting in 2024
- Also: Rivian to Supply Amazon with 100,000 Electric Vans
According to TechCrunch, which first broke the news based on two insiders who were granted anonymity, the vehicle would start at around $25,000 USD and enter production as early as late 2026 at a plant in Indianapolis, Indiana. Slate Auto leaders are apparently hoping to create a small revolution in the auto industry, not unlike what the Ford Model T and Volkswagen Beetle did decades ago.
Founded in 2022, Slate Auto is said to have hired hundreds of people, many of whom came from Ford, General Motors, Stellantis and even Harley-Davidson. It’s also backed by a number of wealthy individuals, notably Los Angeles Dodgers controlling owner Mark Walter, as well as Re:Build Manufacturing (another Bezos connection) lead investor Thomas Tull.
A Different Business Model
But how will Slate Auto bring such an inexpensive electric pickup to market without crashing and burning like Canoo, Lordstown Motors, Nikola, Fisker and other emerging companies have done?
For one thing, the vehicle itself is expected to be extremely simple in terms of design, content and configuration in order to minimize development and manufacturing costs. In fact, it’s said to feature a regular cab with two seats only, based on a proof of concept that was reportedly shown to investors at a design studio in California recently. The electric motors, battery and other components would all be sourced from partnering suppliers.
Simultaneously, State Auto would offer a comprehensive lineup of accessories, apparel and merchandise, giving customers lots of opportunities to personalize their truck and add to their unique lifestyle—kind of like the Mopar division at Dodge, Jeep and Ram. It’s been found that the company applied in March to trademark the phrase “We Build It. You Make It.”
Back in 2019, Amazon invested $700 million USD in Rivian, which went on to build thousands of electric delivery vans for the e-commerce giant.
