Slate EV Pickup Truck Faces Uncertainty After EV Credit Elimination
The journey for Slate Auto, the newest entrant in the EV market, has become more challenging. The recent elimination of federal EV credits has made the company’s uphill climb even steeper – by at least $7,500. The company had initially promised an affordable, sub-$20,000 electric truck, but all mentions of this offer have disappeared from their website.
Slate has positioned itself as a David among automotive Goliaths, with its small, two-door vehicle comparable in size to a 1985 Toyota SR85 pickup. The key selling point was its affordability and customizability. However, the advertised price was contingent on federal incentives, which have now been discontinued.
The “big, beautiful bill” passed on Capitol Hill eliminated incentives for new and used EV purchases. Buyers have until September to utilize the rebates ($7,500 for new EVs and $4,000 for used). This change has led to a significant shift in Slate’s pricing strategy.
Autopian Editor-in-Chief David Tracy noted that without the incentives, the Slate truck might cost over $27,000, making it uncompetitive, especially considering its lack of features like paint and infotainment systems. In comparison, vehicles like the Chevy Trax and Kia Soul offer more value at similar prices.
Slate’s unique selling proposition lies in its customization options and simplicity. Customers can keep the vehicle stock or customize it with various upgrades. However, the removal of EV credits poses a significant challenge to its competitiveness in the market.
The future of Slate remains uncertain, particularly with the charging infrastructure not improving rapidly and EV popularity being lower than expected. Whether Slate can succeed based on its “cool factor” alone is questionable.
While Slate has garnered over 100,000 reservations, the final pricing will be crucial. Autopian Publisher Matt Hardigree, who reserved a Slate truck, expressed his concerns about potential additional costs. The company’s decision to remove the original pricing from their website indicates the uncertainty surrounding the final cost.
As the EV market continues to evolve, Slate’s ability to navigate these challenges will determine its success. The comparison with established models like the Ford Maverick, which offers more features at a competitive price, will be crucial in determining Slate’s market position.
