New EV Revolution

The new kid on the block

There’s a fresh face in the automotive world, and it’s making quite the splash. Slate Auto, the latest startup, is backed by none other than Jeff Bezos along with some ex-Amazon brainpower. They’ve been grabbing headlines with their new $27,500 electric vehicle (EV), and here’s the kicker: this EV is like a transformer. It can switch from a truck to an SUV or even a fastback SUV-friendly ride. Thanks to the federal EV tax credit, that base price shrinks to about $20,000, which is not too shabby considering it’ll be assembled right here in the good ol’ United States.

Made in the USA

Slate Auto is looking to lease a massive former printing plant in Warsaw, Indiana, which used to be R.R. Donnelley’s home until a couple of years ago. The plant sprawls over 1.4 million square feet. It’s still tight-lipped about the lease, but insiders hinted that the facility could bring around 2,000 jobs. That’s a welcomed boost for the local economy, backed by some enticing incentives from Indiana’s economic developers. Interestingly, some aerial photos released by Slate align perfectly with a public listing of the site, essentially confirming their plans.

Slate keeps it close to home, operating under “Re:Build Manufacturing,” a business dedicated to breathing new life into American industry. CEO Chris Barman proudly emphasized their commitment to U.S. manufacturing, highlighting the patriotic and industry-centric mission of Slate Auto.

Final thoughts

A $20,000 EV sounds like a pipe dream, but it’s becoming reality due to two main reasons. First, Slate’s vehicles are incredibly simple by design. A visit to their configurator reveals a no-frills approach, using vinyl wraps instead of paint jobs to offer personalization without breaking the bank. This cost-effective strategy, combined with substantial funding from heavyweights like Bezos and General Catalyst, has already secured them more than $100 million.

Should consumers open their wallets, Slate could not only deliver one of the most affordable EVs but also pump significant capital into American manufacturing, creating a multitude of jobs along the way. Such a moves isn’t commonplace in today’s auto landscape, setting the stage for an exciting journey ahead. The hope is that Slate Auto’s ambitious plans succeed in reshaping the industry’s status quo.