key takeaways:
- Slate Auto unveiled a subcompact electric pickup priced at $24,950 at a Los Angeles event on June 24, with a range of about 205 miles and a 2,000-pound towing capacity.
- The low-cost model targets rising vehicle prices and weak EV demand after tax credit cuts, though analysts say its limited features and range hinder appeal.
- The startup aims to convert 180,000 reservations into orders and begin deliveries in the fourth quarter while turning a profit through add-on accessories.
Jeff Bezos-backed EV startup Slate Auto said its all-electric subcompact pickup will cost just under $25,000, a price it bets could help it compete with larger, more established rivals.
Slate is holding an event in Los Angeles on June 24 to offer the tour to journalists In the “Pre-Production Prototype”, it is close to the final version with specifications. The stripped-down two-seater offers 205 miles of range and the ability to tow up to 2,000 pounds and will be priced starting at $24,950.
Read more: An old American pickup truck becomes much more than a workhorse
The company is introducing a customizable, low-cost pickup to increasingly expensive trucks and SUVs, testing whether affordability can broaden the appeal of electric vehicles. That goal was challenged after Congress eliminated federal tax credits for EVs last year, though rising gas prices have prompted some consumers to delve into the used plug-in market.
“If Slate is successful, it won’t be because people like electric vehicles, but because people like affordable vehicles,” said Jesse Toprak, founder and CEO of OptiCar.AI, a vehicle inspection and car-shopping platform. “Obviously it has its limitations in terms of range and towing capacity – it doesn’t shine in most technical areas.”
Toprak said the only close competitors in the new car market will be Ford Motor Co.’s upcoming light EV truck, whose price starts at $30,000, and used trucks a few years older.
A slate truck costs $24,950. Because America asked for an affordable new truck.
Pricing does not include tax, title, license, registration, government fees, destination charge, documentation fee and any optional equipment. State and local incentives may also be available. pic.twitter.com/WN6CZG5H14
– Slate Auto (@slateauto) 24 June 2026
Slate is selling two SUV configurations of the vehicle, Pricing for both the Squareback and Fastback will start at $29,950.
According to researcher Edmunds.com, the average new vehicle transaction price in 2025 was $48,402, a 30% increase from 2019. Only 4.7% of new vehicles sold for $25,000 or less last year.
According to BloombergNEF, EVs are now expected to account for 17% of U.S. passenger vehicle sales in 2030, down from the 27% estimated in last year’s forecast. Many automakers overestimated U.S. demand for EVs, which still lack widespread charging infrastructure. And under President Donald Trump, policymakers eliminated a $7,500 federal tax credit and weakened fuel-efficiency standards, making it less attractive for manufacturers to sell it. Cars.
A key feature of slate pitch is inflation-exhausting. Consumers can save money by purchasing a basic truck and then adding accessories over time, rather than paying for an expensive package of options upon initial purchase.
The base model lacks standard features like power windows or audio and infotainment systems. Amazon.com Inc. Peter Faricci, former acting CEO of Slate, who joined Slate this spring, has focused on developing an online site called the Slate Marketplace, where owners can shop for parts to add to their vehicles.
“I doubt they’re going to make much of a profit on the actual sale of the vehicle,” Toprak said. “But it’s a smart strategy where they’re giving you a lean truck, but also giving you a lot of options to make it your own. And that’s where the profits are going to be in the long run.”
The Troy, Michigan-based startup has amassed 180,000 reservations at $50 per pop. Now it’s trying to convert them into firm pre-orders, which require a total advance payment of $300. It plans to deliver the first truck in the fourth quarter of this year.
The EV maker says it can deliver mid-$20,000 trucks because it has significantly streamlined the manufacturing process.
