Slate Auto Unveils $24,950 Electric Pickup, Betting on Bare-Bones Affordability

In spring 2026 the average U.S. new-vehicle price rose to $50,900, and inventory now holds more models above $50,000 than below $35,000. High-priced trucks sell quickly, showing price is not a barrier. Attempts at low-cost EVs—Tesla’s $25,000 car, Nissan’s cheaper Leaf trim, Chevrolet’s sub-$30,000 Bolt, Volvo’s $35,000 EX30—have been delayed or raised, leaving a gap for affordable electric pickups.

Business InsiderInsideEVsSlate reveals JUST how bare bones its trucks will be in order to be under $25K, including crank windows and no paint. At least Americans can finally afford an EV pickup

Slate’s electric pickup starts at $24,950 and measures 14.6 ft, a foot shorter than a 1990s Ford Ranger. The base model has two seats and no infotainment screen or speakers; air conditioning is included. It delivers 181 hp and a 205-mile EPA range. The vehicle lacks connectivity, software, and AI, using the driver’s phone for navigation and music. Production costs are cut by wrapping the exterior in vinyl film instead of painting and by offering every feature as an optional accessory.

Business Insider

Within four hours of launch, Slate logged over 10,000 non-refundable $300 preorders despite no test drives. CEO Peter Faricy told CNBC each truck will be gross-margin positive and that the company expects free cash flow by 2027. Slate also told Business Insider that every truck sold will be profitable from the start.

Business Insider

Analysts note that U.S. buyers continue to purchase high-priced vehicles, suggesting limited demand for stripped-down trucks. Critics say removing standard comforts—infotainment, climate-control automation, painted finishes—may deter mainstream consumers. Slate’s profitability claims remain unverified, and its low reliability rating (40.58) raises questions about its financial outlook.

Business Insider

Ford is developing a lower-cost EV platform that could produce a truck near Slate’s price, while Rivian’s smaller R3 targets the mid-$30,000 segment, both still years away. Mitsubishi plans a rebadged Nissan Leaf—named the Eclipse Sportback—for a late-summer 2026 U.S. launch; the Leaf’s 2026 model is priced around $30,000. Other affordable EVs include the revamped Leaf, Chevrolet Bolt, and Subaru Uncharted at $34,995.

InsideEVs

Mitsubishi’s Eclipse price remains undisclosed, and Slate’s claimed 205-mile range and 181 hp output lack independent verification. Several source excerpts provide no reliability assessment, limiting confidence in their quantitative details.

InsideEVs

• “No other automotive company has been able to do that before. So it’s ambitious. It’s going to take a lot of work. Nothing’s guaranteed in life, but you have to have ambitious goals if you want to achieve big things. That’s the big goal we’re shooting for.” — Peter Faricy, CEO, Slate Auto (CNBC)

Slate reveals JUST how bare bones its trucks will be in order to be under $25K, including crank windows and no paint. At least Americans can finally afford an EV pickup

• “Whoever you are and whatever you like in life, you can now express that through your SUV or through your truck.” — Slate Auto marketing tagline

Slate reveals JUST how bare bones its trucks will be in order to be under $25K, including crank windows and no paint. At least Americans can finally afford an EV pickup

Slate plans to expand its accessories catalog next year and begin deliveries soon, targeting cash flow positivity by 2027 with preorders.

Slate reveals JUST how bare bones its trucks will be in order to be under $25K, including crank windows and no paint. At least Americans can finally afford an EV pickup