Slate Auto Unveils Electric Pickup Truck Priced Just Under $25,000

1-Minute Brief

Slate Auto's low-cost electric truck could expand EV access, but buyers must accept fewer features to keep prices down.

Key Facts

• Slate Auto's electric pickup truck is priced at $24,950.
• The company is backed by Jeff Bezos.
• CEO Peter Faricy stated every vehicle produced will be gross margin positive.
• The truck features manual windows and other basic amenities.
• Slate Auto aims to be cash-flow positive next year.

What Happened

Slate Auto announced a new electric pickup truck with a starting price of $24,950, positioning it as an affordable EV option. The company says each vehicle will be profitable and is targeting cash-flow positivity next year.

Why It Matters

The introduction of a lower-priced electric truck could make EVs more accessible to a broader range of consumers. However, the cost savings come with reduced features, which may influence buyer decisions.

What's Next

Observers will watch how the market responds to the truck's affordability and limited features. Slate Auto's progress toward cash-flow positivity will also be monitored.