Bezos Backs Budget EV

An Affordable EV Truck

The EV world is buzzing with the potential arrival of a new player: an electric truck priced at $25,000, backed by none other than Jeff Bezos. Slate Auto, a startup based in Troy, Michigan, has ambitious plans to launch this affordable EV truck by late 2026. This initiative aims to finally put electric vehicles within reach of the masses, much like Henry Ford did with the Model T in the early 1900s.

The Team

Slate Auto has been making waves not just for its potential product but also for the expertise behind it. The company has attracted talent from major automakers like Ford, GM, and Stellantis, as well as from emerging companies like Fisker and Canoo. It’s clear that Slate Auto is backed by a blend of automotive veterans and fresh innovators hungry to change the game.

Design and Inspiration

The truck draws inspiration from legendary vehicles like the Ford Model T and the Volkswagen Beetle. These cars symbolize affordability and accessibility, concepts central to Slate Auto’s upcoming truck. While specifics about the truck’s performance metrics remain under wraps, its pricing is designed to capture the attention of potential buyers still on the fence about electric vehicles.

Driving Feel

Driving a well-designed electric truck can feel akin to operating the latest smartphone — intuitive, responsive, and smooth. Traditionally, even affordable EVs offer a torquey performance, which provides a sprightly acceleration experience, contrasting sharply with the rumble of a gasoline engine. If Slate Auto manages to replicate this experience at their targeted price point, it could give established marques a run for their money.

Behind the Scenes

Behind Slate Auto’s development is significant funding, including $111 million from a Series A round in 2023 and additional Series B investments. All of this funding supports the goal of becoming a name synonymous with affordable electric mobility, with manufacturing plans slated for a plant just outside Indianapolis, Indiana, starting in late 2026.

Future Implications

As the electric vehicle market pivots towards wider accessibility, the ripple effect of a $25,000 well-built EV could be enormous. Competing with similar offerings from companies like Tesla or Rivian, Slate Auto aims to redefine the entry-level electric automobile. The driving experience is expected to be pragmatic yet enjoyable, serving both practical duties and the shift to an electrified lifestyle.

Slate Auto’s vision, fueled by Bezos’ strategic backing, could potentially pioneer a new segment in the EV market, making the switch from internal combustion engines as seamless as adopting streaming with Amazon’s early digital offerings.