Investor Ross Gerber has expressed interest in Slate Auto, a company backed by Jeff Bezos, after meeting with a former Tesla team member who now works at the electric vehicle startup. Gerber, the CEO of Gerber Kawasaki Wealth & Investment Management, believes that Slate Auto is an interesting company to watch, particularly with its plans to launch a low-cost pickup truck in 2026.
Gerber’s Thoughts on Slate Auto
Gerber recently shared his thoughts on Slate Auto, stating that he spent time with a former Tesla employee who is now working at the company. He found the conversation intriguing and noted that Slate Auto is making an affordable electric vehicle pickup truck. Gerber’s comments have brought attention to the company, which is taking a minimalist approach to its vehicle design in order to keep costs down.
Slate Auto’s Funding and Launch Plans
Slate Auto has raised $650 million in a Series C funding round, led by TWG Global, to support the launch of its first vehicles later this year. The company has also secured over 160,000 reservations for its first product, a customizable pickup truck that is expected to start at around $25,000. The truck has an estimated 150-mile range and a payload capacity of about 1,400 pounds, with a larger battery option expected to raise the range to about 240 miles.
Key Features of Slate Auto’s Truck
- Base model skips traditional paint job, power windows, and stereo to keep costs down
- Customizable platform that buyers can modify
- Estimated 150-mile range from a 52.7-kWh battery
- Payload capacity of about 1,400 pounds
- Larger battery option expected to raise range to about 240 miles
Jeff Bezos’ Involvement and Company Expansion
Jeff Bezos, the founder of Amazon, has backed Slate Auto, but his direct role in the company may be shrinking. Melinda Lewison, the head of investments for Bezos Expeditions, has left Slate’s board. Despite this, the company is moving forward with its plans, including an expansion of its headquarters in Troy, Michigan, which is expected to add 392 jobs and invest $10.4 million.
Market Analysis
According to market analysis, Tesla stock currently offers satisfactory momentum but poor value. However, it provides a favorable price trend in the long, medium, and short term. Ross Gerber, who has been a vocal critic of Elon Musk, has expressed his support for Tesla while also criticizing its CEO. His comments on Slate Auto have brought attention to the company and its plans to launch a low-cost electric vehicle pickup truck.