Carvana has received an option to invest in Slate Auto, the electric vehicle startup backed by Jeff Bezos.
According to TechCrunch, documents filed with Delaware’s Division of Corporations show the online used-car retailer was granted a warrant to purchase shares in the company in 2025, around the period when Slate Auto was assembling its $650 million Series C funding round.
It remains unclear whether Carvana has exercised the warrant or how many shares it may acquire. Carvana declined to comment, while Slate Auto did not respond to requests for comment.
The development comes as Carvana explores opportunities to expand into new vehicle sales, according to a report by The Wall Street Journal. The company has reportedly acquired several Stellantis dealerships across the United States. During a recent earnings call, chief executive Ernie Garcia III told analysts to “stay tuned” when questioned about new vehicle sales plans.
Slate Auto is expected to announce final pricing and begin accepting its first non-refundable pre-orders within weeks for its low-cost electric vehicle, which is anticipated to start in the mid-$20,000 range. The company has stated that its first vehicles will reach customers before the end of the year.
Like Tesla and Rivian, Slate Auto has stated that it will not operate through traditional dealerships. The company intends to sell vehicles directly to customers but has provided limited details about its sales and delivery arrangements. Access to Carvana’s physical retail network could ease some logistical challenges and increase the startup’s market visibility.
Slate Auto has disclosed little about its investors since emerging from stealth mode last year, shortly after TechCrunch reported that Jeff Bezos and Guggenheim Partners chief executive Mark Walter were backing the venture. In April, the company confirmed that Walter’s firm, TWG Global, led its Series C funding round, making him one of Slate Auto’s largest shareholders.
Walter also holds a significant stake in Carvana, owning 8% of its Class B common stock and 1% of the company’s overall voting power. Only Ernie Garcia III and Ernie Garcia II hold greater control.
Carvana may already have referenced the Slate Auto arrangement in disclosures to investors without identifying the company by name.
In a regulatory filing made in March, Carvana stated that it had received a warrant in June 2025 to purchase shares in a private consumer products company. The retailer did not identify the business but said the warrant had an aggregate value of $1.5 million at the end of 2025 and would vest in stages through 2029 based on mutually agreed performance targets.
The filing also noted that Mark Walter holds a substantial ownership interest in the warrant issuer. Carvana did not indicate whether the reference concerned Slate Auto or another company within Walter’s investment portfolio.
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