Slate Auto, a relatively new and enigmatic electric vehicle startup backed by Amazon founder Jeff Bezos, has released a new teaser for its forthcoming electric pickup truck. The company, which began operations in 2022, aims to fill a perceived market gap with an affordable EV priced at $25,000.
The Teaser Campaign
The latest teaser, obtained by Newsweek through an unusual camouflage wrap featuring the publication’s logo on the vehicle, provides a clearer look at the electric truck. The camouflage approach is an unorthodox marketing strategy that has garnered attention. The teasers confirm that the truck will be a single-cab model, which might have limited appeal to consumers but could be popular among small business users.
Business Model and Pricing Strategy
Slate Auto’s business strategy involves offering the base model at an affordable price point and potentially making longer-range versions or additional features available as upgrades. This approach, similar to that used by Harley-Davidson or Stellantis’s Mopar division, could help keep the base price low while providing opportunities for additional revenue through accessories and upgrades. The company has trademarked the phrase “We built it. You make it,” reflecting this customization-focused strategy.
Market Positioning and Future Plans
The $25,000 price target is ambitious and aims to make EVs more accessible to a broader audience. If successful, this could challenge existing electric pickup truck offerings like the Rivian R1S. However, the single-cab configuration might limit its appeal to household buyers, potentially necessitating a crew-cab model in the future to capture a broader market share.
Full Reveal and Expectations
Slate Auto is set to make its full introduction on April 24th, which will likely provide more details about the truck’s specifications, range, and available configurations. The company’s ability to deliver on its promise of affordability while maintaining viability will be crucial to its success in the competitive EV market.
