In a significant shift, Slate Auto, an innovative electric vehicle startup, has revised its pricing strategy for its upcoming all-electric pickup truck. Initially, the company had advertised a starting price of “under $20,000,” but this promotion has been halted following the recent changes in federal tax incentives under the Trump administration. The anticipated tax cut bill, which is set to be enacted soon, will eliminate the federal EV tax credit, a crucial $7,500 incentive that Slate had relied on to maintain its competitive pricing.
When Slate Auto first emerged from its stealth phase in April, it made headlines by promising an all-electric pickup truck priced attractively below $20,000, factoring in the federal tax credit. This pricing strategy was prominently featured on their website until just recently, indicating the company’s initial confidence in this pricing model.
The decision to withdraw the pricing claim poses a challenge for Slate Auto as it strives to establish itself in the competitive electric vehicle market. The startup has yet to disclose the new starting price for its vehicle without the tax credit, leaving potential customers in suspense. A representative from Slate declined to provide further details regarding this pricing adjustment.
Production of the truck is not expected to commence until late 2026 at the earliest, which gives the company time to refine its offerings. Slate Auto is also focusing on creating a highly customizable vehicle, suggesting that the base model may not attract a large number of buyers initially.
The sub-$20,000 price point had been a significant draw for the startup, capturing the attention of consumers eager for affordable electric vehicle options. This pricing strategy was a focal point during the company’s launch event, where executives emphasized their commitment to making electric vehicles accessible to a broader audience.
During the launch, the chief commercial officer highlighted the pressing issue of rising vehicle prices, stating, “The auto industry has driven prices to a place that most Americans simply can’t afford. But we’re here to change that.” This sentiment reflects the company’s mission to disrupt the market with a more affordable alternative.
CEO Chris Barman reinforced this vision, asserting, “We are building the affordable vehicle that has long been promised but never been delivered.” This commitment to affordability and accessibility remains at the core of Slate Auto’s mission as it navigates the evolving landscape of electric vehicles.