Slate Auto raises $650 million as production gets closer and closer
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Slate Auto raised $650 million, indicating progress towards production.
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Electric pickup startup Slate Auto announced it has raised $650 million in its latest funding round. This new capital infusion positions Slate Auto as an outlier among new electric vehicle OEMs. The company, which started in 2022, aims to offer a sub-$20,000 starting price for its truck, which is now projected to be in the "mid-$20,000s" due to the abolishment of the federal clean vehicle tax credit. This pricing strategy would allow the Slate Truck to match or undercut the Ford Maverick XL, currently the cheapest pickup available in the US. The funding brings Slate Auto closer to production.
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