Online car retailer Carvana has secured the opportunity to invest in Slate Auto, an EV startup funded by Jeff Bezos. According to documents obtained by TechCrunch, Carvana acquired a warrant to purchase shares in the startup in 2025. This deal coincides with Slate Auto raising its $650 million Series C funding round. Techcrunch.com reports .
This partnership is seen as part of Carvana’s strategy to enter the new car sales market. According to the Wall Street Journal, the company has acquired several Stellantis dealerships across the US. Carvana CEO Ernie Garcia III, responding to questions about new car sales at a recent earnings call, urged investors to stay tuned for updates.
Slate Auto plans to announce final pricing for its affordable EV and accept non-refundable pre-orders in the coming weeks. Expected to be priced around $20,000, the EV is slated for customer delivery by year-end. Like Tesla and Rivian, Slate aims to bypass traditional dealership networks in favor of a direct-to-consumer sales model.
Interestingly, Carvana and Slate Auto are also linked through shared investors. Guggenheim Partners head Mark Walter holds significant stakes in both companies. Leveraging Carvana for sales could play a crucial role in solving logistics challenges and boosting brand awareness for Slate Auto.
