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Slate Auto to launch affordable electric pickup truck under $20,000

Startups

Business Honor
28 April, 2025

Slate Auto plans an affordable electric pickup under $20K, aiming to disrupt the cooling EV market.

Slate Auto, a startup backed by Amazon founder Jeff Bezos, is set to launch a small, American-made electric pickup truck priced under $20,000 ($31,310) with federal subsidies. This two-seater, bare-bones model is designed to break into a cooling electric vehicle market, where high prices have caused demand to soften. The average price of electric vehicles hit $59,205 in March, which is 25% higher than gasoline-powered vehicles, according to Cox Automotive.

The truck’s base model will lack features like power windows, focusing on a simple, budget-friendly design. A battery from SK On Co. will power it, giving it a range of roughly 240 miles (386 kilometers). The vehicle will be assembled at a plant in Indiana, with deliveries expected to begin as early as next year. In addition to the base model, Slate Auto will offer kits to convert the truck into an SUV, expanding its versatility.

CEO Chris Barman stressed the need for affordable electric vehicles, stating, "The definition of what’s affordable is broken," and vowed to deliver the long-promised affordable EV. The company aims to make electric vehicles accessible to a broader audience by addressing the high costs that have limited widespread adoption.

The truck’s low price depends on existing EV tax incentives, which President Donald Trump has proposed eliminating. Despite potential changes to federal support, Slate Auto's spokesman assured that the truck would still be competitive without the subsidies, though the exact price without them has not been disclosed. Headquartered in Troy, Michigan, Slate Auto employs around 400 people and aims to reshape the affordable EV landscape.