Slate Auto, an American vehicle manufacturer focused on affordable and customizable vehicles, announced the close of a $650 million Series C funding round led by TWG Global.
The new capital provides Slate Auto with the operating resources needed to advance into its next phase of development, including scaling production and preparing for initial customer deliveries. The company has already secured more than 160,000 reservations and expects to begin delivering its first vehicles in late 2026.
Founded in 2022 and spun out of Re:Build Manufacturing in 2023, Slate Auto is built around a simplified manufacturing model aimed at reindustrializing American production. The company is developing a highly modular vehicle platform designed to balance affordability with flexibility.
Its flagship product, the Slate Truck, is designed as a customizable platform capable of transforming from a two-seat pickup into a five-seat SUV. Each vehicle will be initially produced in a standard configuration, with customization options available post-delivery.
Slate Auto plans to manufacture its vehicles at a reindustrialized factory in Warsaw, Indiana. The company expects to invest nearly $400 million into the facility, create more than 2,000 jobs in Kosciusko County, and contribute up to $39 billion to Indiana’s economy over a 20-year period.
The Slate Truck is expected to be priced in the mid-$20,000 range, positioning it at roughly half the cost of the average new vehicle. Final pricing details are expected to be announced in June 2026, coinciding with the opening of preorders.
To support customers post-purchase, Slate Auto has partnered with RepairPal’s nationwide network of more than 4,000 service centers, enabling warranty service and customization through independent repair shops. The vehicles will also be compatible with Tesla Superchargers via the North American Charging Standard (NACS), providing access to one of the largest fast-charging networks in the United States.
KEY QUOTES:
“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.”
Peter Faricy, CEO, Slate Auto
“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.”
Chris Barman, President, Vehicles, Slate Auto
