Tesla competitor Slate closes $650 million funding round and says 2026 production is “on time and on budget”
Tesla competitor Slate Auto said it closed a $650 million Series C funding round led by TWG Global, giving it the “operating capital to reach the next stage of development.” Slate’s new CEO, Peter Faricy, says it has more than 160,000 reservations, up from 150,000 in December, and is “on time and on budget” to deliver its first mid-$20,000 electric trucks to customers by the end of 2026.