Slate Auto has closed a $650 million funding round, the company announced Monday, accelerating its path to production of an entry-level electric pickup. The raise positions the Michigan-based startup as one of the better-capitalized new EV entrants, arriving at a moment when several rivals have stumbled or pivoted. Founded in 2022, Slate is targeting a segment the broader EV industry has largely avoided: mass-market affordability. Its Slate Truck is priced to open in the mid-$20,000s, which would match or undercut the Ford Maverick XL, currently the least expensive new pickup available in the US. The original sub-$20,000 target depended on the federal clean vehicle tax credit, which has since been eliminated, raising the floor but not eliminating the competitive price advantage. The mechanism here is straightforward: by anchoring on price rather than premium features, Slate is competing on a dimension where legacy automakers have shown little appetite to defend. Watch whether production timeline disclosures follow this raise, and how Ford responds on Maverick pricing as a direct competitive benchmark.
Flipkart will launch a food delivery pilot in Bengaluru by mid-August, charging restaurants a 10-11% commission compared to the 25-35% levied by Swiggy and Zomato. The move targets growing restaurant discontent with incumbent platforms and aims to drive daily engagement across Flipkart's 500 million registered users.
Maruti Suzuki crossed two lakh domestic units in July 2026 for the first time, recording 42.4% year-on-year growth. Total sales including exports and OEM supplies reached 2,41,421 units, with all passenger vehicle segments posting gains.
Air India's net loss more than doubled to ₹22,238 crore in FY26, prompting Tata Sons chairman N Chandrasekaran to extend the Vihaan.AI turnaround timeline from five years to as long as a decade.
UpGrad's all-stock acquisition of Unacademy, valued at Rs 1,955 crore, is set to close within three weeks after CCI clearance and near-complete investor sign-offs. The deal combines upGrad's upskilling business with Unacademy's test prep and medical education platforms, with Gaurav Munjal staying on as CEO.
