Quick Read
- Slate Auto, a Jeff Bezos-backed EV startup, unveiled its first electric pickup truck.
- The vehicle is priced under $20,000 after federal tax credits and is expected to launch by 2026.
- The truck emphasizes affordability and customization, offering over 100 accessories.
- It features a 150-mile range on a base 52.7 kWh battery, with an upgrade option for 240 miles.
- Manufacturing will take place in Indiana, focusing on cost efficiency and domestic production.
Slate Auto: A New Player in the EV Market
Slate Auto, a three-year-old electric vehicle (EV) startup financially backed by Amazon founder Jeff Bezos, has officially entered the EV market with the unveiling of its first electric pickup truck. The announcement was made during a high-profile event in Long Beach, California, on Thursday night. The startup aims to disrupt the EV landscape by offering an affordable, customizable, and domestically manufactured electric truck, with prices starting under $20,000 after federal tax credits.
Affordability at the Core
One of Slate Auto’s key selling points is affordability. The base model of the truck is projected to cost less than $20,000 after federal EV tax credits, making it one of the most affordable electric vehicles in the U.S. market. In comparison, the current cheapest EV, the Nissan Leaf, starts at $28,140, while the most affordable pickup truck, the Ford Maverick, starts at $26,995. Slate Auto’s CEO Chris Barman emphasized that the company is committed to delivering the long-promised affordable EV that has yet to materialize in the market.
“We are building the affordable vehicle that has long been promised but never been delivered,” said Barman during the event. The company plans to launch the truck to customers by the end of 2026, provided federal tax credits remain in place.
Customizable Design: A Blank Slate
Slate Auto has taken a unique approach to vehicle design by prioritizing customization. The truck, referred to as the “Blank Slate,” comes in a basic configuration with minimal features, allowing buyers to personalize it according to their preferences and budgets. The company offers over 100 accessories, ranging from functional upgrades like infotainment screens and roof racks to aesthetic options like vehicle wraps.
Unlike traditional automakers, Slate Auto does not paint its vehicles. Instead, it provides wrapping kits that customers can apply themselves or have installed by the company. This approach not only reduces manufacturing costs but also gives customers greater freedom to personalize their vehicles. Additionally, the truck can be transformed from a two-seater pickup to a five-seater SUV, offering flexibility for changing needs.
“Make the Blank Slate yours at the time of purchase, or as your needs and finances change over time,” said Barman. The company also plans to launch “Slate University,” a content hub featuring how-to videos for DIY customization.
Specifications and Features
The base model of the Slate truck is equipped with a 52.7 kWh battery pack, providing a range of 150 miles. For those requiring more range, an upgraded 84.3 kWh battery pack will offer up to 240 miles. The truck is powered by a single 150kW motor on the rear axle and features a 1,400-pound payload capacity with a 1,000-pound towing capacity.
Additional features include a five-foot bed, 17-inch wheels, and a front trunk (frunk) with seven cubic feet of storage space. The frunk also includes a drain, making it suitable for unconventional uses like tailgate parties. Despite its affordability, the truck comes with federally mandated safety features such as automatic emergency braking, airbags, and a backup camera.
Manufacturing and Market Strategy
Slate Auto plans to manufacture its vehicles in Indiana, emphasizing domestic production to reduce costs and navigate regulatory challenges. The company has already hired nearly 400 employees and is actively recruiting more to meet its ambitious goals. By focusing on a low-cost, highly customizable vehicle, Slate Auto aims to carve out a niche in the competitive EV market.
“The auto industry has been so focused on autonomy and technology in the vehicle, it’s driven prices to a place that most Americans simply can’t afford,” said Jeremy Snyder, Slate Auto’s Chief Commercial Officer. “But we’re here to change that.”
Challenges Ahead
Entering the automotive market is no small feat, especially for a startup. The EV sector is littered with examples of companies that have struggled or failed, including Canoo, Fisker, and Lordstown Motors. Even established players like Rivian and Lucid Motors face financial challenges despite their premium offerings. However, Slate Auto’s focus on affordability and customization, coupled with backing from deep-pocketed investors like Jeff Bezos, positions it uniquely in the market.
The company has raised over $111 million in funding so far, with additional support from investors like Mark Walter, CEO of Guggenheim Partners and controlling owner of the LA Dodgers. This financial backing, combined with its innovative approach, could help Slate Auto navigate the challenges of launching a new automotive brand.
Slate Auto’s debut marks a significant moment in the EV industry. By prioritizing affordability, customization, and domestic production, the company aims to make electric vehicles accessible to a broader audience. While challenges remain, the startup’s innovative approach and strong financial backing could make it a formidable player in the EV market. As the launch date approaches, all eyes will be on Slate Auto to see if it can deliver on its promises and redefine the future of affordable electric vehicles.