Key Takeaways
1. Slate announced an electric pickup truck that can transform into an SUV for under $20,000, generating 100,000 reservations.
2. Jeff Bezos, founder of Amazon, supports Slate, having invested in Rivian, a competitor in the electric vehicle market.
3. The truck will be produced in Indiana, with plans to increase production to 150,000 units annually by 2028.
4. The modular design allows for customization, including a DIY transformation into a two-door SUV, expected to be available by late 2026.
5. A $50 refundable deposit is needed to reserve the truck, but final prices may exceed initial advertisements, depending on federal EV tax credit availability.
Slate recently announced that it can sell an electric pickup truck that can change into an SUV for under $20,000. This idea has caught the attention of many, leading to 100,000 reservations being made for the vehicle.
Backing by Bezos
Slate has the support of Jeff Bezos, the founder of Amazon. He was one of the first investors in Rivian, another company that produces electric trucks, SUVs, and vans.
Production Plans
The electric vehicle will be produced in Indiana, with Slate aiming to increase production to 150,000 units annually by 2028. They are inviting early adopters to customize their trucks through their website.
The Slate EV has a modular design, allowing customers to add an optional roof and extra seats to convert it into a two-door SUV. This transformation can be completed either as a DIY task or by professionals at a partnering service center. The truck is expected to be released in late 2026, featuring a standard battery pack that offers a 150-mile driving range.
Reservation Details
To reserve the pickup truck, a $50 deposit is required, which is refundable. However, not all reservations are guaranteed to lead to a purchase. For example, Tesla gathered two million pre-orders for the Cybertruck, yet it is currently offering promotions to encourage sales.
Prospective buyers should keep in mind that the final price may be higher than initially advertised. The low cost relies on the ongoing availability of the federal EV tax credit, which is currently uncertain.
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