Key facts
- Slate Auto's electric truck will start at $24,950, with the SUV version priced at $29,950.
- The base model offers an estimated range of 205 miles and features manual crank windows and no infotainment system.
- Slate plans to sell directly to consumers and generate revenue through an accessories catalog.
- The company has raised $1.4 billion from investors including Jeff Bezos' family office.
- Over 10,000 pre-orders have been placed for the vehicle.
Slate Auto, an electric vehicle startup backed by Jeff Bezos, has announced the starting price for its minimalist electric truck will be $24,950. This aggressive pricing strategy aims to capture a segment of the new car market with limited affordable options. The base model will offer an estimated range of 205 miles, manual crank windows, and will lack an infotainment system, with customization options available through an accessories catalog. The SUV variant will start at $29,950.
Slate plans to sell directly to consumers, bypassing traditional dealerships, and has granted online used car giant Carvana a warrant to purchase its shares, suggesting potential collaboration on sales. The company's long-standing goal is to create an accessible vehicle akin to the Ford Model T or Volkswagen Beetle. Despite market trends favoring larger, more expensive vehicles, Slate is betting on a demand for simplicity and affordability, a sentiment echoed in online discussions about smaller, analog-interior trucks.
The startup has secured approximately $1.4 billion in funding across three rounds from investors including Bezos' family office, General Catalyst, Slauson & Co., and former Amazon executive Diego Piacentini. The company's path is influenced by evolving U.S. policy, including loosened emissions standards and the removal of federal EV tax credits, which have impacted other automakers' EV plans.