Slate Auto just opened preorders for its bare-bones electric pickup at $24,950, delivering on its revised pricing promise after losing the $7,500 federal EV tax credit. The American-made truck - which ditches paint, stereos, and touchscreens to hit an accessible price point - starts deliveries in late 2026 with a $300 non-refundable deposit locking in early slots. It's a critical test of whether the market will embrace ultra-affordable EVs stripped down to essentials.
Slate Auto is making its big pricing reveal official. The startup's electric pickup truck opens for preorders today at $24,950, cementing its position as potentially the most affordable American-made EV on the market. For a segment where Tesla's Cybertruck starts at $82,235 and Ford's F-150 Lightning clocks in at $62,995, Slate's entry point looks like a different universe entirely.
The company is taking $300 non-refundable deposits starting today, with a 30-day window to lock in delivery dates. Production fires up in autumn 2026, with first deliveries scheduled for late 2026 according to The Verge's report. That timeline puts Slate in a race against both traditional automakers retooling their EV strategies and a wave of Chinese competitors eyeing the American market.
But here's the catch - this isn't your typical truck. Slate's "no-frills" philosophy is literal. The company strips out paint (leaving bare aluminum or composite panels), eliminates stereos and touchscreens, and focuses purely on utility. It's a calculated bet that a segment of truck buyers care more about hauling capacity and total cost of ownership than creature comforts. The approach echoes early Tesla Model 3 promises of a $35,000 electric sedan - except Slate's actually shipping at the promised price point.
The $24,950 figure represents a compromise. Slate initially teased pricing "under $20,000" before the Trump administration killed the $7,500 federal EV tax credit. Without that subsidy cushion, the company revised its target to the mid-$20,000 range last year. The final number lands right at that revised promise, suggesting Slate's manufacturing costs are razor-thin.
That's where things get interesting from a business perspective. Ford reportedly loses money on every electric F-150 Lightning it sells. General Motors has delayed multiple EV truck programs citing profitability concerns. How does a startup with limited scale make the economics work at half the price? Slate's betting on simplified manufacturing, direct-to-consumer sales eliminating dealer margins, and a customer base willing to sacrifice features for affordability.
The timing matters too. Traditional automakers are pulling back EV investments after sluggish sales growth in 2025. Tesla faces increasing competition from Chinese manufacturers like BYD. Meanwhile, commercial fleet operators are hungry for cheap electric trucks that pencil out against diesel alternatives. Slate could carve out a niche serving work truck buyers rather than lifestyle consumers.
But delivery execution will make or break this launch. The EV startup graveyard is littered with companies that took deposits and never shipped vehicles. Rivian burned through billions before reaching sustainable production. Lordstown Motors collapsed entirely. Slate's relatively simple design might actually be an advantage here - fewer complex systems mean fewer things to go wrong in manufacturing ramp-up.
The $300 deposit structure is aggressive compared to competitors. Tesla took $100 deposits for the Model 3 and Cybertruck. Making it non-refundable signals Slate wants committed buyers, not tire-kickers inflating reservation numbers. For customers, it's a modest bet on a company with no production track record but a compelling value proposition.
What's still unclear is final specifications. Range, payload capacity, charging speeds - these details will determine whether Slate's truck is genuinely competitive or just cheap. A 150-mile range might work for local contractors but not rural buyers. Fast-charging capability could be the difference between a work truck and a lawn ornament.
The American-made positioning also carries weight in the current political climate. With tariffs reshaping automotive supply chains and "Made in USA" carrying cachet, Slate's domestic manufacturing could prove a selling point beyond just the sticker price. Whether the company can actually maintain domestic production while hitting its cost targets remains to be seen.
Slate Auto's $24,950 price point is either visionary or reckless, depending on whether the company can actually deliver at scale. The real test comes in autumn 2026 when production begins and early depositors see whether they've secured a bargain or funded another EV startup failure. For an industry struggling to make electric trucks profitable, Slate's stripped-down approach offers a provocative alternative - if the economics actually work. The next 18 months will reveal whether minimalism is the key to affordable EVs or just a clever marketing angle masking inevitable price increases.
