Slate Auto, the electric vehicle startup backed by Jeff Bezos, has announced that its new electric truck will start at $24,950. This price excludes taxes, title, license, registration, governmental fees, destination charges, documentation fees, and any optional equipment. The company began accepting pre-orders for the truck on Wednesday.
In addition to the competitive pricing, Slate Auto has increased the estimated range of its base model from 150 miles to approximately 205 miles. This enhancement positions the truck favorably against competitors like the Chevrolet Bolt, which starts around $29,000, and the Nissan Leaf, beginning at approximately $32,000. Ford has also hinted at a $30,000 electric truck expected in 2027.
Since emerging from stealth over a year ago, Slate Auto has been detailing its minimalist, transformable electric vehicle. The truck starts as a two-seater pickup but can be converted into a five-seater SUV, with the SUV version priced at $29,950. The company has released “Slate University” how-to videos to guide owners through the conversion process and other customizations.
The truck’s design emphasizes simplicity and customization. It features hand-crank windows, lacks an infotainment system, and comes in a standard gray composite material without paint options. Buyers can personalize their vehicles with customizable wraps, a decision that likely reduces manufacturing costs by eliminating the need for expensive paint facilities.
Slate Auto plans to sell directly to consumers, bypassing traditional dealerships, a strategy similar to that of other EV manufacturers like Tesla, Rivian, and Lucid Motors. Additionally, the company has granted online used car retailer Carvana a warrant to purchase its shares, indicating potential collaboration in selling the affordable truck. Carvana has recently announced plans to sell new cars, marking a shift in its business model.
Slate Auto’s goal is to create a vehicle akin to the Ford Model T or Volkswagen Beetle, aiming for a starting price around $25,000. However, achieving this target has been complicated by policy changes under the second Trump administration, including the removal of the $7,500 federal EV tax credit, which has led many automakers to delay or cancel new EV plans in the U.S.
With approximately $1.4 billion raised across three major funding rounds, Slate Auto’s investors include TWG Global, General Catalyst, Jeff Bezos’ family office, VC firm Slauson & Co., and former Amazon executive Diego Piacentini.
Slate Auto’s approach to offering a no-frills, affordable electric truck could significantly impact the EV market by making electric vehicles accessible to a broader audience. The company’s emphasis on simplicity and customization, combined with direct-to-consumer sales, challenges traditional automotive sales models and may influence future industry practices.
