Jeff Bezos-backed Slate reveals $24,950 starting price for EV pickup, making it the cheapest truck in America

Yahoo Finance


Electric vehicle startup Slate revealed new specs and the all-important starting price for its bare-bones pickup.

The company, backed by Amazon (AMZN) founder Jeff Bezos, said its one-color, no-frills electric pickup truck will start at an attractive $24,950, below some expectations in the high $20,000s.

Slate is calling its truck the most affordable truck in America, though the price excludes taxes, destination charges, and any state or local incentives. The Ford Maverick XL, currently the cheapest truck in America, starts at $27,145 ($29,685 with destination charges).

“More than 180,000 reservation holders have told us they’re ready for a vehicle that’s affordable, reliable, and built around their lives,” Slate CEO Peter Faricy said in a statement. “Slate gives customers the freedom to buy only what they need today and personalize their vehicle as their needs change tomorrow. We’re excited to start seeing Slates on roads across America later this year. “

The Slate EV pickup and SUV that now can be ordered direct from the factory.
The Slate EV pickup and SUV that now can be ordered direct from the factory. · Slate

A lot has changed since Slate emerged from stealth mode in mid-2025. The two-battery offering Slate first pitched — a 52.7 kWh pack good for 150 miles and an 84.3 kWh pack good for 240 — has been replaced on the spec sheet by a single 65 kWh lithium iron phosphate pack. Slate now quotes an estimated range of 205 miles, which it calls a 37% jump over the previous base figure. The single motor sends 181 horsepower to the rear wheels, with a 0-to-60 time of about eight seconds and a top speed of 90 mph.

Capability has also increased. The truck is now rated to tow up to 2,000 pounds and haul 1,550 pounds of payload.

And Slate is no longer just a pickup truck factory. The company will sell two SUV variants, the Squareback and the Fastback, starting at $29,950, and said buyers can still convert a truck into an SUV after purchase — the “you make it” ethos the company has leaned on from the start.

The Slate EV pickup interior.
The Slate EV pickup interior. · Slate

“This is a real test of how much affordability still matters to today’s buyers,” Edmunds director of insights Ivan Drury said about Slate’s sub-$25,000 pricing. “The base pricing is the headline, but the entry-level price point is paired with an unconventional build and a powertrain that is proven harder to sell today. The real question is whether the enticing price alone can overcome that.”

The customization business that executives have called Slate’s power, or profit driver, has some concrete details too. Slate’s Marketplace will launch with 175-plus accessories, more than 80 of them under $500, spanning roof racks, stereos, seat covers, and light covers. At launch, there will be more than 100 wrap colors — or any custom color — and full vehicle wraps run under $500, applied professionally “in hours, not days.”

The company is leaning hard on cheap ownership. It’s promising a 10-year/110,000-mile battery and powertrain warranty, access to 3,000-plus RepairPal shops, and DIY repair guidance through its Slate U program.

As CEO Faricy noted, more than 180,000 people have put down the refundable $50 deposit. To convert a reservation to a preorder now costs $300, or $250 for those who already paid the $50. First deliveries are still expected in the fourth quarter of 2026.

The Slate EV pickup.
The Slate EV pickup. · Slate

The trucks will be assembled at a reindustrialized plant in Warsaw, Ind., where the company said it will invest nearly $400 million, create more than 2,000 jobs, and contribute up to $39 billion to the state’s economy over 20 years.

The Slate entry comes at a trying time for EVs in America. New EV sales fell 27% year over year in the first quarter of 2026 to around 216.4K units, according to Cox Automotive’s Kelley Blue Book.

Expiration of the $7,500 federal EV tax credit at the end of Q3 was the main culprit, and demand has sagged ever since. Many automakers have throttled back production, with some major brands posting Q1 EV sales declines of 60% to 70% or more.

Slate’s big market differentiator is its starting price, which remains appealing despite the loss of federal EV tax credits. The startup is hoping a budget-friendly price, plus a do-it-yourself, back-to-basics ethos with its cars, will make it a hit with many Americans.

Pras Subramanian is Lead Auto Reporter for Yahoo Finance. You can follow him on X and on Instagram.

Click here for the latest technology news that will impact the stock market

Read the latest financial and business news from Yahoo Finance





Source link

Leave a Reply