Bezos-Backed Slate Auto Names Ex-Amazon VP CEO before Mid-$20,000 EV Truck Launch
Slate Auto, backed by Jeff Bezos, has appointed former Amazon VP Peter Faricy as CEO after raising $700 million in funding. The company has over 160,000 reservations for its mid-$20,000 electric pickup, targeting deliveries later this year and posing competition to Tesla’s Cybertruck.
1. New CEO Appointment
Slate Auto has raised $700 million and appointed Peter Faricy, former Amazon Marketplace vice president, as its new CEO, with founder Christine Barman moving to president of Vehicles.
2. Electric Pickup Reservations and Pricing
The company has secured over 160,000 reservations for its electric pickup, plans to reveal detailed pricing in June with a mid-$20,000 base trim, and aims to begin deliveries later this year.
3. Competitive Implications for Tesla’s Cybertruck
Slate Auto’s lower-priced truck and strong reservation count threaten Tesla’s Cybertruck, which carries a base price near $69,990 and has faced variable demand and production challenges.