Business03 June, 20262 min read
Carvana Gets Warrant to Invest in Jeff Bezos-Backed Slate Auto
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Carvana secured a warrant to acquire Slate Auto shares in 2025. Slate Auto's $650 million Series C funding coincided with the warrant grant in 2025.
Carvana eyes Slate Auto
Carvana has been granted the option to invest in Slate Auto, an electric vehicle startup backed by Jeff Bezos, according to documents obtained by TechCrunch. The paperwork filed with Delaware’s division of corporations shows Carvana received a warrant to buy shares in 2025, around the same time Slate Auto was starting to put together its $650 million Series C funding round.
TechCrunch reported it is not clear if Carvana has exercised that warrant or how many shares it is allowed to buy, and Carvana declined to comment while Slate Auto didn’t respond to requests for comment. Carvana’s potential move is framed as part of its effort to expand into new car sales, with the Wall Street Journal cited in the TechCrunch report as saying the company has reportedly purchased a number of Stellantis dealerships across the United States.
Bezos, Walter, and control
Slate Auto is described as being weeks away from announcing final pricing and taking the first nonrefundable preorders for its low-cost EV, which TechCrunch said is expected to start in the mid-$20,000 range. TechCrunch also reported that Slate has said it will deliver its first vehicles by the end of this year and that it “won’t have traditional dealerships,” selling directly to customers.
The TechCrunch report ties the companies together through shared investors, saying Guggenheim Partners CEO Mark Walter led the Series C round and that Walter owns 8% of Carvana’s Class B common stock and 1% of the overall voting power. TechCrunch further stated that only Garcia III and his son, Ernie Garcia II, have more control, and it quoted Carvana CEO Ernie Garcia III telling analysts to “stay tuned.”
Warrant details and next steps
IndexBox, citing documents obtained by TechCrunch, said Carvana’s warrant to acquire shares in Slate Auto during 2025 coincided with Slate Auto’s efforts to finalize its $650 million Series C funding round. IndexBox reported that whether Carvana has acted on that warrant and the exact number of shares it can purchase remains unknown, and it added that Carvana chose not to comment while Slate Auto did not reply to inquiries.
Car Dealership Guy News said Carvana got permission to invest in Slate Auto in 2025, according to a story published by TechCrunch.com, and noted that it is not clear if the company has invested any funds yet. Zamin.uz echoed the same core timeline, saying Carvana acquired a warrant to purchase shares in the startup in 2025 and that the deal coincides with Slate Auto raising its $650 million Series C funding round, while also stating Slate plans to announce final pricing and accept non-refundable pre-orders in the coming weeks.