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. The company has reportedly purchased a number of Stellantis dealerships across the United States. Asked about new car sales on a recent earnings call, CEO Ernie Garcia III told analysts to “stay tuned.”
Slate Auto is also just weeks away from announcing final pricing and taking the first non-refundable preorders for its low-cost EV, which is expected to start in the mid-$20,000 range. Slate has said it will deliver its first vehicles by the end of this year.
