"Slate Auto has raised $650 million to fuel its push to launch an affordable, mass-market truck. The cash infusion will be critical to developing the Slate truck and scaling up manufacturing at its plant in Warsaw, Indiana."
"The company plans to begin production by the end of this year. Originally banking on the $7,500 federal EV tax credit to bring the electric truck's starting price under $20,000, the target price has crept up to around $25,000."
"Every 'Blank Slate' will ship from the factory in a no-frills base configuration that includes steel wheels and an interior so spartan it lacks an infotainment screen, speakers, or even powered windows."
Slate Auto has successfully closed a $650 million Series C funding round, led by TWG Global, to support the launch of its affordable electric truck. The company has over 160,000 reservations and plans to begin production by the end of the year at its Warsaw, Indiana plant. Originally targeting a price under $20,000 with federal tax credits, the price has increased to around $25,000. The startup faces stiff competition in the EV market as it prepares to launch in 2026.
Read at insideevs.com
Unable to calculate read time
Collection
[
|
...
]