Carvana has tied up with Bezos-backed Slate Auto as it plans to sell new cars

Carvana has been offered an investment in Slate Auto, an electric car startup backed by Jeff Bezos, according to documents obtained by TechCrunch.

Documents filed with the Delaware division of corporations show that the online used car retailer was granted a warrant to buy the shares as early as 2025 — around the same time Slate Auto was first raising its $650 million Series C round.

It is not clear whether Carvana exercised that permission, or how many shares it was allowed to buy. Carvana declined to comment, and Slate Auto did not respond to requests for comment on the deal.

The deal with Carvana comes as the retailer looks for ways to expand into new car sales, according to the Wall Street Journal. The company has reportedly bought several Stellantis locations across the United States. Asked about new car sales on a recent earnings call, CEO Ernie Garcia III told analysts to “stay tuned.”

Slate Auto is also weeks away from announcing final pricing and taking non-refundable pre-orders for its low-cost EV, which is expected to start in the mid-$20,000 range. Slate said it will deliver its first cars by the end of this year.

Like Tesla and other all-electric car companies like Rivian, Slate says on its website it “won’t have traditional dice.” The company said it will sell cars directly to customers, but has not yet given many details about how it plans to deal with car purchases. Selling through Carvana dealerships can help reduce some of those headaches while raising the startup’s profile.

Slate has been tight-lipped about its investors since emerging from hiding last year, shortly after TechCrunch first revealed that Bezos and Guggenheim Partners CEO Mark Walter were backing the company. Slate reported in April that Walter’s company TWG Global led a Series C round, making the entrepreneur one of the startup’s largest shareholders.

Walter also plays a major role in Carvana. He holds 8% of the company’s Class B common stock and 1% of the total voting power. Only Garcia III and his son, Ernie Garcia II, have more control.

Carvana may have already revealed some details about the Slate tie-up to investors without naming the startup.

In March, Carvana disclosed in a regulatory filing that it had been granted permission to buy shares of a “privately held consumer products company” in June 2025. Carvana did not name the company but said the total value of the warrant was $1.5 million at the end of 2025 and that it “includes milestones based on mutually determined goals in 2029.” Carvana noted that Walter “has a significant ownership interest in the licensee.”

Carvana did not say whether this referred to Slate or another company in Walter’s portfolio.