Carvana partners with Bezos-backed Slate Auto for new car sales
Original: Carvana ties up with Bezos-backed Slate Auto as it plans new car sales
Why This Matters
Partnership could reshape EV distribution as traditional dealership models evolve
Carvana obtained warrant to invest in electric vehicle startup Slate Auto in 2025, according to Delaware corporate filings. The partnership comes as Carvana explores new car sales expansion beyond used vehicles.
Documents show Carvana received a warrant to purchase shares in Slate Auto around the time of the startup's $650 million Series C funding round in 2025. The deal remains confidential with neither company commenting. Carvana is reportedly expanding into new car sales after purchasing Stellantis dealerships, with CEO Ernie Garcia III telling analysts to 'stay tuned' on earnings calls. Slate Auto, backed by Jeff Bezos and Guggenheim Partners CEO Mark Walter, plans to deliver its first low-cost EVs starting in the mid-$20,000 range by end of year. The startup avoids traditional dealerships, selling directly to customers. Walter owns 8% of Carvana's Class B stock and led Slate's Series C through TWG Global. Carvana disclosed a $1.5 million warrant for an unnamed 'private consumer products company' vesting through 2029.