Slate Auto has raised $650 million in a Series C funding round to support production of its affordable electric truck.
The company announced the funding on April 13, 2026. The round was led by existing investor TWG Global, according to the official press release.
Slate Auto has received more than 160,000 reservations for its vehicle. It plans to begin customer deliveries in late 2026.
The Slate Truck is designed as a customizable platform that can convert from a two-seat pickup to a five-seat SUV. The manufacturer’s retail price will be announced in June 2026. The vehicle is expected to start in the mid-$20,000 range.
“Our Series C round of funding will enable Slate to reach the next stages of production this year: on time and on budget,” said CEO Peter Faricy in the release.
“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,” said Chris Barman, president of vehicles, in the release.
Slate Auto was founded in 2022 and incubated inside Re:Build Manufacturing before becoming an independent company in 2023. It plans to produce vehicles at a reindustrialized factory in Warsaw, Indiana.
The company has partnered with RepairPal’s network of more than 4,000 service centers for warranty and accessorization work. Slate Trucks will use the standard NACS port and have access to the Tesla Supercharger network.
Slate Auto said the factory investment is expected to create more than 2,000 jobs in Kosciusko County and contribute up to $39 billion to Indiana’s economy over 20 years.
The company stated that the new capital will support its goal of delivering affordable, customizable electric vehicles made in the United States.
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