Slate Auto, an electric car start-up company supported by Bessos, announced a first-rate electric pickup card sale at a start-up price of $24950 and a booking start on Wednesday. At the same time, the company is moving the base version from 150 miles to about 205 miles, further reinforcing its low-cost entry.

Aim at the U.S. low-cost new car market.

This pricing does not include taxes and fees, listing, registration, transportation and optional allocation costs. At the price level of the United States new car market, Slate's start-up prices are significantly lower than most new cars and are lower than many of these electric vehicles.

Currently, the start-up price for the Chevrolet Bolt is about $29,000 and the daily output Leaf is about $32,000. Ford was also pushing for an electric pickup truck of about $300,000, but it was not expected to be launched until 2027.

  • Basic start-up price: $24950
  • SUV version start price: $29950
  • Base version expected to continue: about 205 miles

Car design emphasizes simplification and adaptation

Slate has presented the basic idea of the product on several occasions. The initial form of the new car is a double-carriage, but can be converted to five SUVs. According to the company, such modifications could be performed by professionals or by the owner of the vehicle itself.

Slate also presented the first “Slate University” teaching videos on how to complete the SUV adaptation and how to install accessories such as headlights.

The vehicle was clearly simplified in terms of configuration in order to reduce costs. Vehicles use hand-shaked windows, there is no car-mounted information entertainment system, and all purchase orders use the same grey complex by default and do not provide traditional paint options. The company plans to meet individualized needs through custom-made car-covered membranes, which will also help to avoid high-cost plant paints.

Marketing patterns and financing contexts surface

Slate did not disclose a more detailed vehicle purchase process, but previously indicated that it would not use a traditional distributor system, but would sell directly to consumers, in a similar pattern to electric car companies such as Tesla, Rivian and Lucid.

TechCrunch had previously reported that Slate had authorized Carvana, the used car platform, to show that the parties might cooperate in the sale of the low-cost electric pickup truck. Carvana also recently disclosed plans to enter the new car sales market. Notably, Mark Walter, one of the main investors in Slate, is also an important shareholder in Carvana.

In terms of financing, Slate has so far completed three rounds of major financing, with cumulative financing of approximately $1.4 billion. Known investors include TWG Global, General Catalest, Bessos family office, Slauson & Co., and former Amazonian executive, Diego Piacentini.

Policy changes in the United States have increased industry pressure

Slate has set a target price of around $25,000 long before the public appearance, hoping to create a low-priced electric car for the public market.

However, the policy environment in the United States has changed in recent years. The report mentions that the policy adjustment during the second term of Tripp eased emission standards and eliminated $7,500 in federal electric vehicle tax credits. This has delayed or put on hold plans for the introduction of new electric vehicles in the United States and has exposed low-cost motor vehicles to a more complex market environment.