Key Facts
Soon after its founding in 2022, Slate Auto has positioned itself in the Detroit automotive market with its electric truck priced in the mid-$20,000 range. However, due to the loss of the EV tax credit and increased costs from tariffs, the expected pricing has risen, complicating its competitive stance against combustion and hybrid vehicles around $30,000. The company claims to have over 100,000 reservations, but these are backed by only a $50 refundable deposit, raising questions about actual orders.
At the same time, major competitor Ford Motor Company has unveiled plans for a $30,000 electric truck set to launch in 2027. This truck is part of Ford’s broader initiative to streamline production, claiming a 15% faster assembly process and significant cost reductions in parts and labor. Slate’s bare-bones design may appeal to a niche market, but its viability is under scrutiny as it faces increasing competition from established automakers and upcoming electric models from Rivian and Lucid Group.
