Slate Auto Unveils $24,950 Electric Truck, Challenging US Market Affordability

Jeff Bezos-backed startup Slate Auto has officially announced starting prices for its debut electric vehicles, positioning itself against the rising average new car prices in the United States. The 'Blank Slate' electric pickup truck is priced at $24,950, while the SUV variant starts at $29,950. These figures are designed to challenge industry trends of "trimflation," where average vehicle costs have exceeded $50,000. Slate Auto aims to produce 150,000 vehicles annually by the end of 2027 from its facility in Warsaw, Indiana. The company employs a direct-to-consumer sales model, bypassing traditional dealerships, and has opened pre-orders for the truck. Additionally, Slate Auto has granted Carvana a warrant to purchase its shares, potentially facilitating sales through Carvana’s expanding new car network.

The specific starting price for the SUV variant has been confirmed at $29,950. The base model's estimated range has been boosted to 205 miles. Slate Auto has released initial "Slate University" how-to videos demonstrating vehicle modifications, such as the SUV conversion and adding headlight covers. The company has granted Carvana a warrant to purchase its shares, suggesting a potential collaboration on sales, following Carvana’s recent expansion into selling new cars. Slate Auto is targeting the lowest end of the new car market, positioning itself against competitors like the Chevrolet Bolt (approx. $29,000) and Nissan Leaf (approx. $32,000), while Ford teases a $30,000 electric truck for 2027.

Slate Auto secures approximately 180,000 reservations for its electric pickup truck. The company releases "Slate University" tutorials demonstrating owner-installable modifications. Slate Auto announces starting prices: $24,950 for the truck and $29,950 for the SUV. Slate Auto increases the base model's estimated range to 205 miles. Pre-orders for the truck model are officially accepted. Slate Auto grants Carvana a warrant to purchase its shares.

The truck is engineered for an estimated range of 205 miles, accelerating from 0 to 60 mph in roughly eight seconds, and can tow up to 2,000 pounds. Slate Auto reports approximately 180,000 reservations ahead of production, suggesting strong interest in the value proposition. The company aims for annual production of 150,000 vehicles by the end of 2027, with manufacturing set to commence at its Warsaw, Indiana facility. Installation of accessories can be performed by owners via online tutorials branded as "Slate U" or through a network of over 3,000 RepairPal-affiliated shops. This approach aligns with data from Deloitte’s 2026 Global Automotive Consumer Study, which indicates that price and value are top priorities for nearly two-thirds of consumers during the purchase process.

Slate Auto has said it “won’t have traditional dealerships,” and plans to sell directly to customers, similar to other EV companies like Tesla, Rivian, and Lucid Motors. Earlier this month, TechCrunch first reported that Slate Auto has granted online used car giant Carvana a warrant to purchase its shares, suggesting the two might collaborate on selling the low-cost truck. Carvana recently revealed plans to sell new cars, shaking up its existing business model. One of Slate’s lead investors, Guggenheim Partners CEO Mark Walter, is a major shareholder in Carvana.

The startup has raised a fair amount of money as it chases these ambitious goals. So far, investors have thrown around $1.4 billion into Slate across three major funding rounds. The company has been tight-lipped about those backers, though along with Walter’s firm TWG Global, we know the cap table includes General Catalyst, Jeff Bezos’ family office, VC firm Slauson & Co., and former Amazon executive Diego Piacentini. Policy changes have loosened emissions standards, and removed a $7,500 federal EV tax credit. As a result, many major automakers have delayed or shelved plans for new EVs in the U.S.

The company did not offer more details about the buying process. Everything else about the truck is bare, though it’s customizable. It has hand-crank windows, lacks an infotainment system, and all orders start with the same gray composite material, with no paint options, as Slate plans to let buyers order customizable wraps for the vehicle. That likely helps cut out a major cost center, as factory paint shops can run in the hundreds of millions of dollars. The price reveal comes more than a year after Slate Auto emerged from stealth.