by A Defining Moment for Slate Auto
Slate Auto is approaching what may be the most important moment in its short existence. Soon, it will announce to the world the exact price of its compact electric pickup. It is known that the company is targeting a price in the “mid-$20,000s,” but whether this price will be attractive enough for the mass consumer remains an open question.
Price Announcement
This week, the startup hinted on social media that the final price for its two-door electric vehicle will be revealed at the end of June. In a video, CEO Chris Barman confirms that the base “Blank Slate” model, as expected, will cost within the mid-$20,000s.
We have worked tirelessly to achieve the lowest possible price. While we haven’t put the final dot yet, we are finalizing negotiations with suppliers for the last components. We are on schedule to share new pricing information in June. We believe it will be worth the wait.
Departure from Initial Promises
It is clear that the “mid-$20,000s” range is a departure from Slate’s initial promise to start selling the pickup for under $20,000. It should be noted that this initial promise largely relied on the now-canceled $7,500 federal tax credit for electric vehicles. Without it, achieving such a price point would always have been difficult due to material costs and industry profit margins. The updated estimate sounds much more realistic, but at the same time, significantly less revolutionary.
Production Realities and Competition
Assuming the compact pickup does launch with a relatively accessible MSRP, Slate will still have to master the details flawlessly. Execution at the level of production, service support, parts supply, and customer communication will be critically important. Other automotive startups have failed due to fewer problems.
Furthermore, competition exists. It has already been noted how unattractive a Slate priced at $25-28 thousand might look next to something like a Ford Maverick. It is not the only compact pickup on the market, and the Blue Oval company is already working on its own electric version, which it promises to launch starting at $30,000.
And while specific details are still scarce, it’s hard to imagine Ford offering something as uncompromisingly simplified as the Slate, which is known to forgo even basic features like built-in speakers and power windows.
Chances of Success
On the other hand, a small, affordable, modular electric vehicle with a bright personality could still find its niche. Production is set to begin by the end of this year in Indiana.
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The success of Slate Auto will depend not only on the announced price but also on the company’s ability to withstand the pressure of mass production and ensure quality that meets market expectations. The modular approach, allowing owners to customize the vehicle, is an interesting distinguishing feature; however, it also complicates logistics and increases demands on the service system. The final verdict will be delivered by buyers, who will assess the balance between price, functionality, and emotional appeal of the new product against the backdrop of a growing offering from established automotive giants.
