Slate Auto has introduced an affordable, American-made electric truck expected to sell for under $20,000 after federal incentives. Despite moderate EV growth in Europe and China, U.S. adoption lags, with only 12% of consumers considering electric vehicles for their next purchase. Slate Auto focuses on accessibility, targeting hourly wage workers who can't afford high-end EVs, and has raised nearly $700 million to produce up to 150,000 vehicles annually by 2027, approaching the market differently than companies like Tesla and Rivian.
Slate is approaching the automobile differently, creating a new market focused on affordability and accessibility for consumers.
According to McKinsey's latest annual survey, 12% of respondents in the U.S. said they intend their next car purchase to be a battery electric vehicle.
The average transaction price of an electric car in the U.S. is $59,205, making it inaccessible for many hourly wage workers.
Slate Auto plans to produce up to 150,000 vehicles annually by the end of 2027, targeting a different demographic than luxury EV brands.
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