Bill Ackman Applauds Slate Auto’s $20,000 EV Truck Announcement

Pershing Square‘s Bill Ackman has praised Amazon.com Inc. (AMZN) founder Jeff Bezos-backed Slate Auto for unveiling its new $20,000 electric vehicle truck.

What Happened:

Ackman highlighted Slate Auto’s unique, modular vehicle design in a post on social media platform X. He expressed optimism about the company’s potential success, stating, “This is going to be a big success. We all want more simplicity and flexibility in our lives.”

Why It Matters:

Slate Auto currently offers just one product, identified as the ‘Blank Slate.’ In its base configuration, it is a two-seater electric pickup with a range of 150 miles. Customers have the option to customize their vehicle, including variations such as a five-seater SUV.

The company states that, thanks to the federal electric vehicle (EV) credit, the base model can be priced around $20,000. This cost is significantly less than competitors like Tesla Inc. (TSLA) with its Cybertruck and Rivian Automotive Inc. (RIVN) R1T.

While Slate Auto anticipates beginning deliveries by 2026, there has already been considerable excitement for the EV pickup on platforms like Reddit.

This product launch aligns with the ongoing growth of the domestic EV market in the U.S., positioning Slate Auto to leverage its competitive pricing effectively.

In addition, Amazon continues to perform well across various metrics, including Momentum, Growth, and Quality, and holds a satisfactory score in the Value metric.

Image Via Slate Auto