Warsaw, Indiana — A new electric vehicle (EV) startup, Slate Auto, has emerged from secrecy and is reportedly finalizing plans to lease a former printing facility as the site for its future truck production. This 1.4 million-square-foot plant, which has been unoccupied for roughly two years, is poised to become pivotal in the company’s mission to manufacture affordable electric trucks, priced at under $20,000 after federal incentives.
Though the precise terms of the lease remain undisclosed, local economic development officials previously indicated the site could potentially create up to 2,000 jobs in the region. The Kosciusko County Economic Development Corporation has acknowledged an incentive package was proposed to support the unidentified company, but details surrounding this package have not been confirmed. Peggy Friday, the organization’s CEO, stated she is bound by a non-disclosure agreement regarding the project.
During an event held this week, executives from Slate Auto revealed an aerial image of the factory, aligning with a public listing available on the Indiana Economic Development Corporation’s website. While specific comments about the factory’s location were not made, it was confirmed that the facility will serve as a cornerstone of their production efforts in Indiana.
Slate Auto’s CEO, Chris Barman, underscored the company’s dedication to domestic manufacturing, emphasizing a commitment to “re-industrializing America.” The startup’s ethos is deeply rooted in its origins at Re:Build Manufacturing, a Massachusetts-based firm focused on enhancing U.S. manufacturing capabilities.
The Warsaw plant has a history dating back to 1958, serving primarily as a production site for R.R. Donnelley, a significant player in the printing industry. The transition from a printing factory to an automotive manufacturing facility presents challenges, but Slate Auto is determined to overcome them.
Backed by notable investors, including Amazon founder Jeff Bezos and Guggenheim Partners CEO Mark Walter, Slate has raised over $100 million to date. This substantial financial backing is crucial as the company navigates the complex process of converting the former printing facility into an EV manufacturing hub.
A unique aspect of Slate’s business model involves the production of vehicle wraps instead of traditional paint jobs, a decision aimed at significantly reducing costs associated with factory setup. This innovative approach could potentially save the company hundreds of millions of dollars during the plant’s development.
As the electric vehicle market continues to expand, Slate Auto appears poised to make a significant impact, not just in affordability but also in local employment opportunities. The company’s plans reflect a broader trend toward revitalizing American manufacturing and providing consumers with more accessible electric vehicle options.
With the leasing agreement on the horizon, the community anticipates the economic boost the new factory will bring, thereby enhancing job prospects and stimulating growth in Warsaw and beyond.