Carvana ties up with Bezos-backed Slate Auto as it plans new car sales
Carvana has the option to invest in Slate Auto, an electric vehicle startup backed by Jeff Bezos. This investment opportunity comes as Carvana explores new car sales, having acquired several Stellantis dealerships. Slate Auto is preparing to announce pricing for its low-cost EV and aims to deliver vehicles by the end of the year.
- ▪Carvana has been granted a warrant to buy shares in Slate Auto in 2025.
- ▪The startup is expected to deliver its first vehicles by the end of this year.
- ▪Carvana is looking to expand into new car sales and has purchased Stellantis dealerships.
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Carvana has been granted the option to invest in Slate Auto, the electric vehicle startup backed by Jeff Bezos, according to documents obtained by TechCrunch. Paperwork filed with Delaware’s division of corporations shows that the online used car retailer was given a warrant to buy shares in the startup in 2025 — around the same time Slate Auto was starting to put together its $650 million Series C funding round. It’s not clear if Carvana has exercised that warrant, or how many shares it is allowed to buy. Carvana declined to comment, and Slate Auto didn’t respond to requests for comment on the deal. The transaction with Carvana comes as the retailer is looking at ways to expand into new car sales, according to the Wall Street Journal.
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