Key facts
- Slate's electric pickup truck will start at $24,950.
- The base model features manual crank windows, two seats, and lacks an infotainment screen and speakers.
- The truck is 14.6 feet long, shorter than many older American compact trucks.
- Slate aims to profit on each truck sold from the beginning.
- Over 10,000 people have placed non-refundable pre-orders for the vehicle.
Slate, a startup backed by Jeff Bezos, is entering the automotive market with an electric pickup truck designed to appeal to consumers seeking affordability and simplicity. The company announced this week that its truck will start at $24,950, a price point significantly lower than most new vehicles currently available.
The company's strategy hinges on building a vehicle with fewer amenities, a move that taps into a trend observed online where consumers express nostalgia for simpler, smaller trucks with analog interiors. The base Slate model will feature manual crank windows, two seats, and will omit a central infotainment screen and speakers. Executives reportedly debated including air conditioning, ultimately deciding to add it, but climate controls will use analog buttons and dials rather than touchscreens.
Slate plans to generate additional revenue through an accessories catalog, allowing customers to add features like second-row seat kits or custom door-mounted armrests after purchase. This approach aims to keep the initial purchase price low while offering customization options.
Despite the internet's fascination with smaller, more affordable trucks and Slate's pricing strategy, the broader automotive market shows strong demand for larger, more expensive vehicles. Data from CarGurus indicates that the average transaction price for a new vehicle is over $50,900, with more vehicles priced above $50,000 than below $35,000. High-priced models like the Cadillac Escalade and Toyota Sequoia are selling quickly, suggesting that affordability is not currently a major deterrent for many buyers.
Slate is entering a competitive landscape where several major automakers have struggled to deliver on promises of low-cost electric vehicles. Tesla's anticipated $25,000 car has not materialized, Nissan dropped a planned less expensive Leaf trim, and Chevrolet's sub-$30,000 Bolt EV is a temporary offering. Volvo also discontinued its EX30 model in the U.S. market due to tariff pressures after initially targeting a $35,000 price. Many legacy automakers have incurred significant losses on their EV ventures.
Slate asserts it can avoid these pitfalls, stating that every truck sold will be profitable from the start. The company has reportedly received over 10,000 non-refundable pre-orders.