Slate Auto revealed an electric pickup truck priced under $20,000, gaining significant attention with 100,000 reservations. However, recent legislation has ended EV tax credits, raising Slate's effective price by thousands, which analysts believe significantly harms its market appeal. As a result, Slate removed the sub-$20,000 price from its website, now advertising a mid-twenties MSRP. The truck is very basic, lacking many features, making its unique add-on business model less compelling at a higher price, which industry experts suggest will hinder sales potential.
Slate Auto made waves in April when it revealed a refreshingly bare-bones electric pickup truck with a price point that's practically unheard of these days: under $20,000 after federal incentives.
Republicans in Congress just took a sledgehammer to those EV incentives in a move that will jack up the Slate's effective entry price by thousands of dollars.
Unfortunately for Slate, this development really does hurt the value proposition of the product a lot. It fundamentally changes what the vehicle is going to have to compete with in the marketplace.
That idea was really, really interesting at $20,000. It definitely becomes a tougher sell at $26,000, $27,000.
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