Slate Auto to Reveal Pricing and Open Preorders for Low-Cost EV on June 24
The electric vehicle maker has raised approximately $1.4 billion and aims to convert over 160,000 reservations into firm orders, though the removal of federal tax credits has shifted its initial price expectations.
Slate Auto, the electric vehicle startup backed by Jeff Bezos and Los Angeles Dodgers owner Mark Walter, is scheduled to announce its pricing structure and open non-refundable preorders on June 24. The company aims to commence vehicle deliveries by the end of 2026, marking a significant milestone for the four-year-old firm as it transitions from development to market entry.
Prospective buyers have been encouraged to secure a spot in the queue through a $50 refundable reservation, which Slate states will grant access to an earlier delivery window than the standard $300 non-refundable preorder. The preorder page, which went live on Thursday, includes a frequently asked questions section confirming the June 24 pricing announcement date. The company did not respond to requests for comment regarding the upcoming launch.
The vehicle, which can be configured as either a two-seater truck or a five-seater SUV, was initially marketed with a base price of under $20,000. That figure was contingent on a $7,500 federal tax credit, which was removed by the Trump administration and Congress late last year. Following this regulatory change, Slate has indicated that the vehicle’s starting price will now fall within the mid-$20,000 range.
Financial backing for the project remains robust, with the company reporting approximately $1.4 billion in raised capital to date. This total includes a $650 million Series C funding round closed in April, much of which appears to have originated from Walter’s financial firm, TWG Global. While Bezos was involved in the initial funding stages, his direct involvement in subsequent rounds has been less defined, and his family office manager stepped down from the board of directors in May.
Slate Auto has attracted more than 160,000 refundable reservations since revealing the vehicle last year, driven by its promise of a low-cost, no-frills design. To address the historical challenge of converting reservation holders into actual customers, the company appointed former Amazon Marketplace vice president Peter Faricy as chief executive officer in March. Faricy joins a leadership team heavily populated by former Amazon executives.
