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Slate Auto Has Raised $700M for Its $20K Electric Truck. Is That Enough?
The startup has revealed how much investment it's received from two funding rounds to build its cheap EV pickup. It's a big number, but is it enough even for now?
To the company’s credit, it’s the only EV startup with healthy funding and what appears to be a mandate to serve the mass market, not whales who have six figures to throw at what amounts to an unfinished prototype. And we have a hard time believing Slate will pull an about-face on this strategy, given that the company has no expensive alternative to pitch to early investors, and no Cybertruck or Sapphire equivalent to siphon attention away from the basic offering. But as impressive as $700 million in early investment is, it’s still nothing compared to the staggering costs of operating a car company —especially given the rapid pace of current EV development.
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