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Bezos-backed Slate Auto Secures $650 Million as Royal Enfield Enters Electric Motorcycle Market
Electric vehicle startup Slate Auto, backed by Jeff Bezos, announced on Monday, April 13, 2026, it has successfully raised $650 million in a Series C funding round. The company aims to deliver its first affordable pickup trucks, starting in the mid-$20,000s, later this year, having already secured over 160,000 bookings for production at its Warsaw, Indiana factory.
Indian motorcycle giant Royal Enfield has officially launched its first fully electric model, the Flying Flea C6, with sales commencing on April 10, 2026, and deliveries slated for late May. Priced at ₹2.79 lakh (ex-showroom), a notable Battery-as-a-Service option reduces the cost to ₹1.97 lakh, a strategic move that even prompted congratulations from competitor Ultraviolette's CEO.
Luxury automaker Porsche reported a 15% decline in global deliveries for the first quarter of 2026, with significant drops in China (21%) and North America (10%), partly due to the discontinuation of US tax incentives for electric vehicles. This follows a strategic reversal last year where Porsche reallocated resources back to combustion engine vehicles, incurring a cost of 1.8 billion euros.
The Bottom Line
The EV market continues to present a mixed landscape, with new entrants like Slate Auto attracting substantial investment for affordable options, while established luxury brands like Porsche face sales headwinds and strategic re-evaluations, even shifting focus back to traditional combustion engines. Meanwhile, the electric two-wheeler segment is seeing significant expansion with major players like Royal Enfield making their debut.
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