Michigan-based EV startup Slate Auto is looking to upend the auto market with just a truck and a dream… and the backing of multiple billionaires, including Jeff Bezos.
Driving the news: Last week, Slate debuted its inaugural vehicle, the Slate Truck. Boasting a starting price of $38,000 with zero frills, it aims to buck the two universally accepted truths about modern vehicles: they’re too expensive and they’re smartphones on wheels.
- The Slate Truck doesn’t have any now-standard tech add-ons, like an infotainment centre or Bluetooth connectivity. Heck, it doesn’t even come with a paint job.
- By cutting out these luxuries, Slate can maintain rock-bottom production prices, thus offering a cheaper product that is highly customizable, including custom wraps and an extension that turns it into an SUV.
Why it matters: High prices have been a consistent hurdle for North American EV adoption, with big names like Tesla struggling to deliver lower-cost vehicles that can compete with Chinese options. Slate may have come across a potential solution to this problem.
- Many consumers might also be attracted to the truck’s low-tech nature and ability to make their own changes to it. Case in point: Multiple Peak staff have called it their “dream vehicle.”
What’s next: Slate is slated to start selling its vehicles in late 2026 and already has a delivery waitlist. However, despite the enticing product, success is far from guaranteed. The EV industry is a tough cookie, with at least 30 EV companies going belly-up between 2014 and 2024.—QH