Slate Auto's Electric Truck Hits the Market with a Starting Price of $24,950

Slate Auto's electric truck has finally hit the market with a starting price of $24,950, aiming to capture a share of the new car market with its aggressive pricing.

The truck offers a range of 205 miles and can be customized with various features. Slate Auto has been promising the vehicle would be priced in the mid-$20,000 area before it came out of stealth, and the company's goal is to create something like Ford's Model T, or Volkswagen's Beetle.

Key Features and Pricing

• Starting price: $24,950

• Range: 205 miles

• Customizable features: Yes

• Paint options: No (customizable wraps available)

• Infotainment system: No

• Hand-crank windows: Yes

How to Purchase

Slate Auto plans to sell its electric truck directly to customers, similar to other EV companies like Tesla, Rivian, and Lucid Motors. The company has not offered more details about the buying process.

Competition and Market Impact

The aggressive pricing of Slate Auto's electric truck puts the company in position to capture a share of the lowest end of the new car market, which has few gas and fewer electric options these days. The Chevrolet Bolt is one of Slate's closest EV competitors on price, starting at around $29,000, while the Nissan Leaf starts at around $32,000. Ford has been teasing a $30,000 electric truck that's due in 2027.

Funding and Investment

Slate Auto has raised a fair amount of money as it chases its ambitious goals. So far, investors have thrown around $1.4 billion into Slate across three major funding rounds. The company has been tight-lipped about those backers, though along with TWG Global, we know the cap table includes General Catalyst, Jeff Bezos’ family office, VC firm Slauson & Co., and former Amazon executive Diego Piacentini.