Carvana Enters Strategic Partnership with Bezos-Backed Slate Auto Amid Expansion into New Vehicle Sales

Documents reviewed by TechCrunch reveal that Carvana has secured the right to invest in Slate Auto, the electric vehicle manufacturer supported by Jeff Bezos. Corporate filings with the Delaware Division of Corporations indicate that the online used-car retailer received a warrant allowing it to purchase equity in the startup during 2025. This timeframe coincides with Slate Auto’s preparation for a $650 million Series C funding round.

It remains unknown whether Carvana has utilized this warrant or the specific volume of shares it is permitted to acquire. Carvana declined to provide comment, and Slate Auto did not respond to inquiries regarding the agreement.

This development aligns with reports from the Wall Street Journal suggesting that the retailer is actively pursuing strategies to broaden its inventory into new vehicles. To facilitate this, Carvana has reportedly acquired multiple Stellantis dealership locations across the United States. During a recent earnings call, CEO Ernie Garcia III hinted at these plans, urging analysts to “stay tuned” when asked about potential new car sales.

Meanwhile, Slate Auto is preparing to announce final pricing and accept non-refundable preorders for its affordable electric vehicle, with costs expected to begin in the mid-$20,000 range. The company aims to deliver its inaugural vehicles by the end of this year. Like Tesla and Rivian, Slate Auto intends to bypass traditional dealership networks, selling directly to consumers. However, the company has provided limited insight into how it will manage the logistical complexities of the customer purchasing experience. Utilizing Carvana’s physical locations could potentially streamline these operations while simultaneously increasing Slate’s market visibility.

Slate Auto has maintained discretion regarding its investor base since emerging from stealth mode last year, following initial reports by TechCrunch that Bezos and Guggenheim Partners CEO Mark Walter were backing the venture. In April, Slate confirmed that Walter’s firm, TWG Global, led the Series C round, establishing Walter as one of the company’s primary shareholders.

Walter also holds a significant position in Carvana. He controls 8% of the retailer’s Class B common stock, representing 1% of the total voting power. Only Garcia III and his son, Ernie Garcia II, possess greater influence over the company.

There is speculation that Carvana may have already disclosed aspects of its connection with Slate Auto to investors without explicitly naming the startup. In a March regulatory filing, Carvana stated it had received a warrant to buy shares in a “private consumer products company” in June 2025. While the company withheld the name, it noted the warrant’s aggregate value would reach $1.5 million by the end of 2025 and would vest in installments through 2029 based on mutual performance targets. Carvana highlighted that Walter holds a “substantial ownership interest” in the entity issuing the warrant. The filing did not clarify whether this referred to Slate Auto or another business within Walter’s portfolio.

Source: TechCrunch Generated at: 2026-06-03 17:25:51 UTC