Overview
- Early June filings with the Delaware Division of Corporations show Carvana was granted a warrant to buy Slate Auto shares around Slate’s $650 million Series C funding round.
- The documents do not confirm whether Carvana exercised the warrant or how many shares it would own, so any equity stake remains unverified.
- Slate plans to reveal official pricing and open orders on June 24 and has said a base model will start in the mid‑$20,000s with production and customer deliveries targeted by the end of 2026.
- Carvana’s recent purchases of former Stellantis dealerships and CEO Ernie Garcia III’s comment to investors to “stay tuned” suggest the company could act as a retail, delivery or service partner if ties with Slate solidify.
- Investor overlaps, including backers Jeff Bezos and Mark Walter and Walter’s TWG Global ties to both firms, plus state changes to federal EV tax credits and softening demand, create pressure on low‑cost EVs and raise the stakes for any Carvana–Slate distribution deal.