US Electric Vehicle Startup Unveils Basic, Low-Cost Electric Pickup
Detroit-based EV startup Slate Auto has begun taking pre-orders for a new electric pickup priced at $24,950, positioning it as one of the lowest-cost new electric vehicles in the U.S. market.
U.S. electric vehicle startup Slate Auto has commenced taking pre-orders for its new electric pickup, with a base price of $24,950. This pricing strategy aims to offer one of the most affordable new electric vehicles in the American market, contrasting with the rising average transaction prices for new cars nationwide.
The vehicle's base configuration is deliberately minimalist, featuring a two-seat layout, an estimated range of 205 miles, and a compact size comparable to a Toyota Corolla. It omits features like a stereo system, speakers, and a built-in navigation screen, opting instead for hand-crank windows and a phone mount on the dashboard to serve navigation needs. Additional options, such as an audio system, keyless entry, or a conversion to a five-seat SUV, will increase the final cost.
Slate Auto, reportedly backed by Jeff Bezos, is entering a U.S. market facing increasing competition from lower-priced Chinese EVs. While the U.S. has fewer than ten new models priced under $25,000, China offers over 200 electric and hybrid models in that same price bracket. The average new car price in the U.S. has surged past $48,000.
Industry analysts liken Slate Auto's approach to the "low-cost airline" model, where a low entry price provides a basic product, with ancillary services and features driving up the total cost. This strategy contrasts with American consumer preferences for larger, more feature-rich vehicles, which contribute to higher average prices in the domestic market.