Carvana granted warrant for Bezos-backed Slate Auto shares amid EV expansion
Filings reveal Carvana holds option to buy equity in the electric vehicle startup, which is preparing to launch a low-cost model priced in the mid-$20,000 range.
Carvana has been granted a warrant to purchase shares in Slate Auto, an electric vehicle startup backed by Jeff Bezos and Guggenheim Partners, according to documents filed with Delaware’s division of corporations. The warrant was issued in 2025, coinciding with the startup’s $650 million Series C funding round. It remains unclear whether Carvana has exercised the warrant or the specific number of shares involved.
The transaction aligns with Carvana’s reported strategic expansion into new car sales. The online used car retailer has reportedly purchased a number of Stellantis dealerships across the United States to support this pivot. During a recent earnings call, Carvana CEO Ernie Garcia III told analysts to “stay tuned” regarding the company’s new vehicle ambitions.
Slate Auto is preparing to announce final pricing and accept non-refundable preorders for its low-cost electric vehicle, which is expected to start in the mid-$20,000 range. The company plans to deliver its first vehicles by the end of the year. Like Tesla and Rivian, Slate Auto intends to sell vehicles directly to customers without traditional dealerships, a model that could leverage Carvana’s physical infrastructure to handle logistics.
Guggenheim Partners CEO Mark Walter is a significant investor in both entities. Walter’s firm, TWG Global, led Slate Auto’s Series C round, making him one of the startup’s largest shareholders. He also holds an 8% stake in Carvana’s Class B common stock and 1% of the overall voting power, placing him second only to Garcia III and his son in terms of control.
Carvana previously disclosed in a March regulatory filing that it held a warrant for a “private consumer products company” valued at $1.5 million at the end of 2025. The filing noted that Walter has a substantial ownership interest in the warrant issuer and that the warrant vests in tranches through 2029 based on performance goals. Carvana declined to comment on the deal, and Slate Auto did not respond to requests for comment.
