Slate Auto Drops Prices Under $20,000 After EV Tax Credit Ends

Slate Auto Adjusts Pricing Communication After Tax Credit Changes

Slate Auto, an electric vehicle (EV) startup with backing from Jeff Bezos, has ceased advertising that its forthcoming pickup truck will begin “under $20,000.” This adjustment follows the enactment of President Trump’s tax cut legislation.

The recently passed bill, anticipated to be signed into law by President Trump on July 4th, will result in the phasing out of the federal EV tax credit in September. This incentive, valued at $7,500, was previously factored into Slate’s projections for achieving the sub-$20,000 price point for its all-electric pickup.

Initial Pricing Strategy

Upon its public debut in April, Slate Auto prominently featured the “under $20,000” starting price for its all-electric pickup, contingent upon the application of the $7,500 federal EV tax credit. This messaging remained visible on Slate’s website as recently as the previous day, as evidenced by the Web Archive.

Impact on Affordability Goals

This change represents a potential setback for the company’s efforts to introduce a significantly affordable electric vehicle to the market.

During its launch event, Slate did not disclose an exact price for the EV. The company has not yet announced the vehicle’s actual starting price without the benefit of the tax credit.

A representative for Slate declined to provide commentary regarding this alteration in messaging.

Production Timeline and Customization

Production of the truck is not scheduled to commence until at least the end of 2026. Slate’s business model also emphasizes extensive vehicle customization options.

This customization focus suggests that the number of customers opting for the base model may be limited.

Significance of the Price Point

The sub-$20,000 price had been a key selling point for the new company and received considerable attention following its April launch.

Jeremy Snyder, chief commercial officer, stated during the launch event that the automotive industry has “driven prices to a place that most Americans simply can’t afford,” and emphasized Slate’s intention to rectify this situation.

CEO's Vision

CEO Chris Barman further articulated the company’s mission at the time, stating, “We are building the affordable vehicle that has long been promised but never been delivered.”