Slate Auto, the emerging EV startup that recently came out of stealth mode, is nearing a decision to use a former printing plant in Warsaw, Indiana, as its production site for an affordable electric truck. Public records indicate that the company is set to lease the 1.4 million-square-foot facility for an undisclosed amount. Earlier this year, economic development officials informed local media, without naming Slate, that the factory could employ up to 2,000 individuals, with the county offering an undisclosed incentive package.
Details of the incentive package remain unclear and may not yet be finalized. Slate did not immediately reply to a request for comment. Peggy Friday, CEO of the Kosciusko County Economic Development Corporation, stated via email that she is “under a strict non-disclosure agreement with the project.”
Slate displayed an aerial photo of the factory during a recent event. Although the company did not disclose its location, the photo aligns with a public listing for the facility on the Indiana Economic Development Corporation’s website. TechCrunch had previously reported that Slate intended to manufacture its EVs, priced under $20,000 after the federal tax credit, in Indiana.
“Our truck will be made here in the USA as part of our commitment to re-industrializing America,” Slate’s CEO Chris Barman declared on stage while the factory photo was shown behind her.
Slate’s emphasis on domestic manufacturing is integral to its identity. The startup originated within Re:Build Manufacturing, a Massachusetts-based company dedicated to enhancing the country’s manufacturing capabilities.
The Warsaw factory was constructed in 1958 and was occupied for decades by the printing company R.R. Donnelly. It has been inactive for approximately two years, according to local media.
Transforming a factory, particularly one not previously involved in automotive production, is a costly and complex endeavor. Slate has secured substantial funding to address this challenge. Backed by Amazon founder Jeff Bezos, Guggenheim Partners CEO Mark Walter, and prominent VC firm General Catalyst, the startup has raised well over $100 million to date.
Slate’s strategy in designing and constructing its electric truck should also help reduce costs. The company plans to sell wraps for the trucks instead of painting them, eliminating the need for a paint shop at the factory. This decision alone could save Slate hundreds of millions during the plant buildout process.
— new from TechCrunch