Slate Auto Retreats on “Under $20,000” Pricing for Electric Pickup Truck Following Federal EV Tax Credit Phase-Out
AI-summarised brief · reviewed before publication
Slate Auto, an electric vehicle startup backed by Jeff Bezos, has dropped its promise to offer its upcoming pickup truck for "under $20,000" in the wake of the Trump administration's tax cut bill. The bill, set to be signed into law, will eliminate the federal EV tax credit of $7,500 in September, an incentive that Slate had factored into its pricing strategy. When Slate emerged from stealth mode in April, the company heavily emphasized that its all-electric pickup would start at "under $20,000" with the $7,500 federal EV tax credit. This language was still present on Slate's website as recently as yesterday, according to the Web Archive. The removal of this language marks a significant shift in the company's pricing approach. Slate has yet to disclose the exact starting price of its vehicle without the federal tax credit. A company spokesperson declined to comment on the change. Notably, Slate won't begin building the truck until at least the end of 2026. The company's business model is centered around making the vehicle highly customizable, which may mean that few customers will opt for the base model. The sub-$20,000 price point had been a major draw for the company, and its removal may impact Slate's ability to deliver a radically affordable electric vehicle.
