Slate Auto has announced plans to manufacture its affordable electric truck, priced below $20,000 with tax credits, at a former printing factory in Indiana. The site, a 1.4 million square-foot facility, has the potential to generate around 2,000 jobs and aims for an annual production capacity of 150,000 vehicles. Emerging as a cost-effective player in the EV space, Slate Auto seeks to address the affordability challenge in the electric vehicle market. Despite the challenges presented, such as retrofitting an old factory and building a production capacity, relying on existing structures may balance out costs over time.
Slate Auto's unique approach to electric vehicle manufacturing promises a sub-$20,000 price point, significantly tackling the affordability issue within the expanding EV market.
The gravitational pull of the electric vehicle market has drawn Slate Auto to Indiana, where it plans to retrofit a former printing plant to produce its affordable electric truck.
While building in a vintage facility poses challenges, it may prove economically wise for Slate Auto, as it gives them a chance to minimize costs at entrance.
Slate Autoâs ambitious goal of producing 150,000 electric trucks annually echoes the evolution seen with established players like Tesla and Rivian.
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