- A new report says the planned Slate pickup, an ultra-basic electric truck designed to be among the most affordable vehicles in America, could carry a starting price of $24,950.
- A reader of an automotive publication found the figure in source code on Slate’s website. The company has not commented.
Slate, a startup automaker planning to offer a remarkably affordable, very small electric truck, may price its first vehicle at $24,950, according to a new report.
In case the name is new to you, we’ll explain.
Slate is an automotive startup that aims to address a growing affordability crisis in the car market by offering an ultra-low-cost subcompact pickup truck that serves as a blank slate for owners to customize (hence, the name).
The Amazon Basics Truck
- Slate planned to produce a hyper-affordable vehicle by keeping it as simple as possible.
The Slate truck will come only in gray (though they will vinyl wrap it in a nearly endless array of designs for a fee, or sell you a wrap to put on yourself). It will be as simple as it can be inside – think hand-crank windows and no screens, just a spot for you to add a tablet if you wish. A do-it-yourself kit lets you turn it into an SUV (though, again, they’ll do the work for you if you prefer).
Initial reports said the truck could cost as little as $15,000 – a shocking figure in a market where the average buyer spent $49,220 last month. But that price became unlikely when the federal government ended a $7,500 electric vehicle (EV) tax incentive last year.
Unconfirmed Price Hidden in Website Code
- A reader of automotive enthusiast site The Autopian found the $24,950 figure in website code.
- Slate has not responded to requests to confirm or deny it – we’ll update you if they do.
Automotive enthusiast website The Autopian now reports that the final figure could be nearly $25,000. The Autopian says a reader found the price in the source code for a pre-order webpage the company maintains. The code included a note that employees are bound by a non-disclosure agreement regarding pricing, so it may not be final and clearly wasn’t intended for public consumption. We’ve contacted Slate to ask for comment, but they haven’t responded.
A KBB reporter is on his way to a Slate event this week, so we hope to bring more details soon.
If accurate, the price could pose a problem for Slate’s plans. At nearly $25,000, the Slate Truck would be undercut by several inexpensive models on dealer lots today, including the Hyundai Venue, Chevrolet Trax, and Nissan Sentra. None are pickups, but all would compete for buyers looking for budget transportation, prompting shoppers to ask why the Slate is so bare if other automakers can produce lower-priced cars full of screens, phone projection systems, and other technology.
Slate Has an Uphill Battle On Its Hands, but a Better Chance Than Some
- Startup automakers often fail because they lack deep pockets and mastery of supply chain logistics. Slate has both.
Slate still has a fighting chance. Most automotive startups fail because starting a new automaker requires immense capital up front, years of losses before it becomes profitable (Tesla made its first dollar in car sales in its 19th year in business), and solving massive logistics challenges, like how to provide repairs nationwide when your company remains small.
Slate, with funding from billionaire Jeff Bezos and an executive roster full of Amazon veterans, may have the capacity to lose money to make money and the minds to hack logistics for a startup. But the appeal of its truck largely lies in its projected low price tag. If the company can’t produce America’s least-expensive new vehicle, its road seems much harder.
We’ll bring updates to this story as we hear more.
