Slate Auto, an electric vehicle startup, on Wednesday unveiled its highly anticipated customizable electric pickup truck priced at $24,950, marking one of the most affordable electric trucks on the market. The company, which launched in 2022 with a mission to bring inexpensive electric trucks to U.S. consumers, plans to begin deliveries later this year and ramp up production in 2027.
The vehicle features a modular, "blank slate" design that allows buyers to start with a basic truck lacking power windows and paint, then add options according to individual preferences. Customization choices include smartphone-compatible screens, upgraded speakers, colored wraps or paint, and a $5,000 kit that converts the truck into an SUV. Slate Auto’s marketplace will offer more than 100 wrap colors, 54 basic wrap options priced under $500, and various accessory kits such as roof stacks and zip-on seat covers. A fully outfitted SUV version with a fastback or squareback style can be purchased for just under $30,000.
The truck and SUV variants deliver an estimated range of 205 miles and are compatible with Tesla charging stations. Slate’s design team, based in Carson, California, focuses on simplifying production by enabling quick snap-on customization, a strategy that earned praise from industry analyst Brian Moody for its blend of affordability and personalization. The company’s headquarters are in Troy, Michigan, and final assembly will take place in Warsaw, Indiana.
Slate CEO Peter Faricy, who joined the company in March after a tenure at Amazon, emphasized innovation across design, engineering, and manufacturing as key to reducing costs. Notably, the choice to prioritize vehicle wraps over traditional paint jobs helps lower costs significantly. While Slate has not disclosed production costs, Faricy stated the company expects to maintain positive gross margins on each vehicle sold.
Since opening pre-orders this week with a $300 deposit (reduced to $250 for early reservation holders), Slate has garnered over 180,000 reservations. Customer delivery schedules will be prioritized based on order timing, according to the company.
Despite the initial enthusiasm, experts caution that Slate faces substantial execution risks as a relatively new entrant in a market increasingly challenged by high costs and shifting regulatory environments. Industry analyst Jesse Toprak noted that while the vehicle concept is innovative, the company’s reliance on accessory sales for profitability adds complexity. Recent industry dynamics have seen established automakers like Ford and Stellantis scale back electric vehicle launches, while startups such as Rivian and Lucid have experienced workforce reductions amid struggles to reach profitability.
Slate operates with approximately 750 employees and has raised over $700 million in funding, including investments from Amazon founder Jeff Bezos. The company emphasizes that its affordable pricing may attract first-time EV buyers, addressing affordability challenges that continue to limit electric vehicle adoption. Current average transaction prices for new EVs in the U.S. stand at around $55,000, compared with about $49,000 for gas-powered vehicles, underscoring the market gap Slate aims to fill.