Carvana granted option to invest in Bezos-backed Slate Auto
12 reported3 unconfirmed
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 the online used car retailer received a warrant to buy shares in the startup in 2025, around the time Slate Auto was assembling its $650 million Series C funding round. It is not clear if Carvana has exercised that warrant or how many shares it is allowed to buy. Carvana declined to comment, and Slate Auto did not respond to requests for comment. The transaction comes as Carvana is looking to expand into new car sales, according to the Wall Street Journal, and has reportedly purchased a number of Stellantis dealerships across the United States. Slate Auto is weeks away from announcing final pricing and taking first nonrefundable preorders for its low-cost EV, expected to start in the mid-$20,000 range, with first deliveries planned by the end of this year. Slate says it will sell vehicles directly to customers without traditional dealerships, and selling through physical Carvana dealerships could help with logistics and raise the startup’s profile.
What’s reported
Carvana was granted a warrant to buy shares in Slate Auto in 2025, according to Delaware corporate filings.
The warrant was issued around the time Slate Auto was assembling its $650 million Series C funding round.
It is unclear if Carvana has exercised the warrant or how many shares it can buy.
Carvana declined to comment; Slate Auto did not respond to requests for comment.
Carvana is looking to expand into new car sales and has reportedly purchased Stellantis dealerships.
Slate Auto is weeks away from announcing final pricing and taking nonrefundable preorders for its low-cost EV, expected in the mid-$20,000 range.
Slate plans to deliver its first vehicles by the end of this year.
Slate says it will sell vehicles directly to customers without traditional dealerships.
Mark Walter, CEO of Guggenheim Partners, led Slate’s Series C round through his firm TWG Global and is one of the startup’s largest shareholders.
Walter holds 8% of Carvana’s Class B common stock and 1% of overall voting power; only Ernie Garcia III and Ernie Garcia II have more control.
In March, Carvana disclosed in a regulatory filing a warrant to purchase shares of a “private consumer products company” in June 2025, with an aggregate value of $1.5 million at end of 2025, vesting through 2029 based on performance goals.
Carvana noted Walter has a “substantial ownership interest in the warrant issuer” but did not confirm if it refers to Slate.
Open questions
Whether Carvana has exercised its warrant to buy Slate Auto shares.
How many shares Carvana is allowed to buy under the warrant.
Whether the “private consumer products company” mentioned in Carvana’s March filing is Slate Auto.
Key figures
Ernie Garcia III, CEO of Carvana
Ernie Garcia II, father of Ernie Garcia III
Jeff Bezos, backer of Slate Auto
Mark Walter, CEO of Guggenheim Partners and head of TWG Global
Sources: TechCrunch
