Slate Auto Closes $650 Million Series C to Fund Its Affordable Electric Truck

Slate Auto has closed a $650 million Series C led by TWG Global, the company said on 13 April 2026. Management framed the round as operating capital to reach the next stage of production this year—on time and on budget—ahead of first customer deliveries in late 2026.

The Troy, Michigan, startup also said it had taken more than 160,000 reservations and would open priced preorders in June 2026.

CEO Peter Faricy, who had taken the role in March 2026 after a career that included Amazon Marketplace, said: “Our Series C round of funding will enable Slate to reach the next stages of production this year: on time and on budget. We can’t wait for our future customers to preorder their Slate Trucks beginning in June.”

What the money is for

Chris Barman, President of Vehicles and Slate’s former CEO, tied the raise to the factory as much as the product: “For nearly four years, Slate has remained laser-focused on the steps needed to develop our vehicle and reindustrialize our Warsaw Factory, and we will deliver Slate Trucks at nearly half the cost of the average new vehicle—as promised.”

Slate said it will assemble trucks at a former printing plant in Warsaw, Indiana, and expects to invest nearly $400 million in the site, create over 2,000 jobs in Kosciusko County, and contribute up to $39 billion to Indiana’s economy over 20 years. Those figures are company projections from the announcement, not independently audited economic-impact results.

TWG Global, which had already backed Slate, led the Series C. Public reporting has also named Jeff Bezos, General Catalyst, Slauson & Co., and Re:Build Manufacturing among earlier supporters. Slate was incubated inside Re:Build Manufacturing, a domestic manufacturing platform, and became an independent company in 2023 after a 2022 founding.

A truck designed as a platform

Slate describes itself as a new American company building vehicles people can afford, personalize, and love. The Slate Truck is a single-configuration electric platform that can stay a two-seat pickup or convert to a five-seat SUV. Every truck is meant to leave the factory in the same spec, ready for wraps and accessories after delivery—an approach that skips the usual ladder of factory trims and a traditional paint shop.

In the April release, Slate said the truck would cost in the mid-$20,000s, with manufacturer’s retail price to be announced in June 2026. When preorders opened that June, the company posted a Blank Slate starting price of $24,950 and later advertised about 205 miles of claimed range. Those later figures were not in the Series C release itself.

Service and charging without a dealer network

Instead of a captive dealer body shop, Slate said it would partner with RepairPal’s network of more than 4,000 service centers so independent shops can handle warranty work and accessorization. Drivers are to use Tesla Superchargers through a standard NACS port on the driver’s-side rear of the truck, the “largest national network of fast chargers,” in the company’s wording.

That combination—low sticker, wrap-first customization, independent service, and Supercharger access, is the commercial bet the Series C is supposed to fund through start of production. Whether Warsaw ramps on the late-2026 delivery timeline is the test that follows the fundraising headline.

More product and company detail lives on Causeartist’s Slate Auto profile and at slate.auto.