Slate Auto, the innovative new electric vehicle (EV) startup that recently emerged from stealth mode, is making significant strides towards establishing its production site. The company is in advanced talks to secure a former printing facility located in Warsaw, Indiana, which is set to become the manufacturing hub for its affordable electric truck. A review of public records reveals that Slate Auto plans to lease the sprawling 1.4 million-square-foot facility, although the financial details of this leasing agreement remain undisclosed.
According to local economic development officials, the factory could potentially create up to 2,000 jobs for the region, although they did not specify the company by name earlier this year. Reports indicate that the county has proposed an incentive package to attract Slate Auto to Warsaw, but the specifics of this package have not been publicly disclosed. The company has yet to provide a comment on these developments.
Peggy Friday, the CEO of the Kosciusko County Economic Development Corporation, stated in an email that she is bound by a strict non-disclosure agreement regarding the project, further complicating the transparency around the incentive package. During a recent event, Slate Auto showcased an aerial photograph of the factory, which aligns with a public listing on the Indiana Economic Development Corporation website, although the company did not officially confirm its location.
Slate Auto's vision includes producing electric vehicles priced under $20,000 after applying federal tax credits. During the event, CEO Chris Barman emphasized the company's commitment to domestic manufacturing, stating, “Our truck will be made here in the USA as part of our commitment to re-industrializing America.” This focus on local production is deeply ingrained in the company’s ethos.
Slate Auto originated from Re:Build Manufacturing, a Massachusetts-based firm dedicated to enhancing the U.S. manufacturing sector. The factory in Warsaw, constructed in 1958, was previously home to the printing company R.R. Donnelly for several decades before being idle for approximately two years, according to local media reports.
The transition from a printing facility to an automobile manufacturing site poses significant challenges, both logistically and financially. However, Slate Auto is well-equipped to address these hurdles, having secured substantial funding. The startup has raised over $100 million, with backing from high-profile investors, including Jeff Bezos, the founder of Amazon, alongside Guggenheim Partners CEO Mark Walter and the prominent venture capital firm General Catalyst.
Moreover, Slate Auto is adopting a unique approach to vehicle design that aims to minimize costs. Instead of traditional automotive paint, the company plans to utilize wraps for its electric trucks. This strategy not only reduces the need for a costly paint shop at the factory but could also save the company hundreds of millions in the overall plant construction process.
As Slate Auto continues its journey toward becoming a key player in the electric vehicle market, the company’s commitment to affordability and domestic manufacturing positions it favorably within a rapidly evolving industry. With a substantial financial backing and a strategic approach to production, Slate Auto is poised not only to launch its electric trucks but also to contribute significantly to the economic revitalization of Warsaw, Indiana.
