Slate Auto secured $650 million in funding to accelerate production of its electric truck, which will launch in late 2026 starting at mid-$20,000s pricing.
The funding round was led by TWG Global, an investment firm run by LA Dodgers owner Mark Walter, alongside existing investors backing the EV startup.
Slate Auto's truck targets the affordable segment of the electric vehicle market, positioning itself against established players and newer entrants. The mid-$20,000s starting price undercuts most current EV offerings, addressing a gap in accessible electric transportation.
Production timelines are tightening as the company moves closer to manufacturing. The fresh capital will support factory setup, supply chain development, and scaling operations ahead of the late 2026 launch window.
The funding demonstrates continued investor confidence in affordable EV plays despite market challenges facing other startups in the space. Slate Auto joins a growing number of companies racing to deliver lower-cost electric vehicles to mainstream consumers.
Reno-based AI chip startup Positron is in talks to raise approximately $750 million across two funding phases, with valuations climbing from $3.5 billion to $5 billion, according to Bloomberg sources.
AI coding platform Lovable is in talks to raise $300 million at a $13.2 billion valuation, doubling its previous valuation. Menlo Ventures is expected to lead the funding round.
Autonomous drone delivery startup Manna is establishing a U.S. operations and manufacturing facility in Tulsa, Oklahoma. The expansion will eventually create 1,000 jobs.