Carvana is reportedly partnering with Jeff Bezos-backed electric vehicle startup Slate Auto to begin selling new cars. This move represents a major strategic shift for Carvana, which has historically focused on the used car market.
Carvana was granted a warrant last year to purchase shares in Slate Auto. Guggenheim Partners CEO Mark Walter serves as a significant investor in both companies.
The collaboration provides Slate Auto with an established online retail platform for its upcoming vehicle launch. This partnership aims to reshape the landscape for online auto retail and new EV distribution.