The electric vehicle (EV) market is at a turning point. A drop in consumer demand has forced many automakers to revise production plans, while Chinese manufacturers ramp up efforts to dominate both their domestic market and expand into regions like Europe. At the same time, former President Donald Trump’s trade and economic policies are threatening to reshape the global auto industry by pushing for a stronger manufacturing presence in the U.S.

Amid these shifts—and with Tesla’s image under scrutiny due to Elon Musk’s political involvement and alignment with far-right ideologies—Jeff Bezos is stepping in. The Amazon founder is backing a new player in the American EV market: Slate Auto, a company preparing to launch its first electric vehicle in 2026.

Slate Auto, which Bezos is financially supporting, plans to roll out a compact two-seater electric pickup truck aimed at first-time car buyers. The goal is to offer a practical, affordable EV priced around $25,000. To meet this pricing strategy, the company has adopted a dual production approach—manufacturing both vehicles and accessories—to cut costs. This model mirrors the strategies of major companies like Stellantis and Harley-Davidson. In fact, Slate has already brought on hundreds of employees from both firms.

Founded in 2022 as part of Re:Build Manufacturing, Slate Auto originated from an industrial tech initiative started by Jeff Wilke, former head of Amazon’s consumer division, and Miles Arnone, who now serves as CEO of Slate. The company initially operated under the name Re:Car—following Amazon’s branding pattern of using the prefix “re,” seen in events like re:MARS robotics.

By 2023, Slate Auto had become an independent entity. That year, it raised $111 million in a funding round that included investments from Jeff Bezos and Melinda Lewison, the manager of his family office. A subsequent funding round followed in 2024, during which Slate issued 500 million shares priced at $2.37 each—though the total amount raised has yet to be disclosed.

Notably, other high-profile investors joined in. Among them were Mark Walter, owner of the Los Angeles Dodgers and CEO of Guggenheim Partners, and Thomas Tull, CEO of Legendary Entertainment. The pair recently launched a $40 billion artificial intelligence investment fund. Diego Piacentini, a former Amazon executive, has also backed Slate Auto.

Slate now joins Rivian and other electric vehicle ventures in Bezos’ growing investment portfolio. Headquartered in Troy, Michigan, Slate Auto is at the heart of Bezos’ strategy to make a bold entry into the EV market and challenge Tesla’s current vulnerability. The company is also strategically positioning itself to weather potential tariffs under Trump-era policies.

Although it has kept a low profile so far, Slate is quietly building momentum, as evidenced by its growing number of job postings. The choice to launch with a pickup truck model—a segment dominated in the U.S. by Ford’s F-series, the best-selling vehicle line of 2024 according to CarPro—signals Slate’s intent to go head-to-head with established giants.

As Tesla faces increasing pressure from shifting market dynamics and reputational issues, Bezos appears ready to fill the gap with a lean, accessible, and American-made alternative.