Michigan-based electric vehicle startup Slate Auto’s stripped-down new pickup will start at just shy of $25,000 when it hits the market late this year, not including a yet-to-be-announced destination charge.
The Troy-headquartered company also announced that the new “Blank Slate” truck will have more battery range than initially expected — up 37% to 205 miles. And it upped the truck’s previous tow ratings and payload capacities.
Slate formally announced the starting price Wednesday after it leaked in recent days. CEO Peter Faricy said the company has more than 180,000 reservations from potential buyers who put down $50. Now it’s asking customers for an additional $250 to preorder the truck, to be built at a factory in Warsaw, Indiana, with deliveries set to start in the fourth quarter.
Backed by Amazon founder Jeff Bezos, the startup designed the little electric pickup around an idea that new cars have become too pricey and complicated, with their increasing focus on big screens, sensors and various luxurious touches.
The base Slate is a simple two-door gray pickup with tactile controls including crank windows and no touchscreen. But it can be customized with colorful wraps and accessories including roof racks and stereos.
The company says the vast number of accessories start at under $500. The idea is the customizations should be fairly simple for do-it-yourselfers, but Slate said it will also offer professional installation options.
Two custom packages convert the truck into two types of SUV — Squareback or Fastback. Those options start at just shy of $30,000 before destination.
Beyond the customization options, the company also says it wants repairs to be possible and affordable for DIYers, though it’s also set up a network of partner shops across the country.
Slate initially targeted a starting price of under $20,000, which would’ve made it possibly the cheapest new car on the market. But that was before President Donald Trump and congressional Republicans last year halted the $7,500 tax credit for EV buyers.
At $25,000, the truck faces competition from a handful of gas and hybrid cars and small crossovers. The closest pickup in price is Ford Motor Co.’s compact Maverick, which has a base MSRP of $26,771 under an employee-pricing-for-all promotion that ends July 6.
The new Slate truck hits the market at a time that the sub-$25,000 vehicle segment is getting increasingly small, while average new vehicle prices have surged to nearly $50,000.
Car-shopping site Edmunds reported Wednesday said the $20,000 new car is now gone, and labeled the $25,000 vehicle “nearly extinct.” Fewer than 5% of new vehicles last year sold for under that price, compared to 21% in 2019, due to diminishing model options.
lramseth@detroitnews.com
This article originally appeared on The Detroit News: No screen, crank windows: Michigan’s Slate prices new electric pickup
Reporting by Luke Ramseth, The Detroit News / The Detroit News
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By Luke Ramseth, The Detroit News | USA TODAY Network
