Driving the news: Carvana got permission to invest in Slate Auto in 2025, according to a story published by TechCrunch.com, which said it reviewed paperwork filed in Delaware to confirm the report.
It is not clear if the company has invested any funds yet.
Representatives from Carvana and Slate did not immediately respond to emails requesting comment.
For context: Slate Auto is the EV startup backed by Jeff Bezos that is weeks away from opening up preorders (non-refundable) for its low-cost EV lineup.
Deliveries for the mid-$20K car are expected by year’s end.
According to the story by TechCrunch, Carvana got permission to buy shares in 2025, around the same time Slate Auto secured $650M in Series C funding to help power the pending EV line.
Mark Walter, CEO of Guggenheim Partners, is a major shareholder in both companies
Bottom line: Carvana already owns at least seven Stellantis dealerships, and this pending investment could mark a whole new level of access to new cars for the retailer, and one that doesn’t plan to use traditional dealerships.
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
