A Jeff Bezos-backed startup plans to debut a small electric-powered, American-made pickup for less than $20,000 with federal subsidies - Bloomberg

A Jeff Bezos-backed startup plans to debut a small electric-powered, American-made pickup for less than $20,000 with federal subsidies - Bloomberg

Jeff Bezos-backed Slate Auto has unveiled its latest offering, a modular electric vehicle (EV) pickup truck, priced competitively at $20,000 post federal EV credit. The truck, set to be available by the end of 2026, was showcased at a launch event in Long Beach, California, on Thursday [1].

The two-seater EV pickup truck features a retro design reminiscent of classic models from Ford Motor Co. F. It offers a standard range of 150 miles but can be upgraded to 240 miles with a longer battery pack. The truck has a 1400 lbs hauling capacity and a 1000 lbs towing capacity, with a five-foot-long bed. Slate Auto is offering 25 starter kits for customers to choose from, each tailored to different use cases [1].

Slate Auto CEO Chris Barman stated, "We are building the affordable vehicle that has long been promised but never been delivered." The truck is available in a standard grey color with optional color wraps and does not come with a stereo system or touchscreen display [1].

The unveiling comes amidst ongoing discussions about the pickup truck, with the concept being sighted multiple times. The truck aims to compete with Tesla Inc. TSLA, which recently repositioned its Cybertruck as a working man's truck and plans to release more affordable models [1].

In a strategic move, Slate Auto has partnered with SK On, a Korean battery maker, to supply 20 gigawatt-hours of EV batteries. This deal, estimated to be worth approximately $2.78 billion, will power about 300,000 mid-sized EVs and is part of SK On's expansion into the North American market [2].

The partnership signifies SK On's commitment to providing reliable, high-quality batteries for more affordable EVs. Slate Auto's electric pickup truck will be powered by SK On's high-nickel, cobalt, manganese, or NCM battery, contributing to the truck's affordability and sustainability [2].

Slate Auto's focus on customization and affordability positions it as a significant player in the EV market, challenging established competitors like Tesla. The company's strategic partnerships and innovative design are set to disrupt the industry, making electric vehicles more accessible to a broader range of consumers [1][2].

References:
[1] https://www.benzinga.com/tech/25/04/45006513/jeff-bezos-backed-tesla-rival-unveils-20000-modular-ev-pickup-truck-with-customization-at-the-forefront
[2] https://www.koreaherald.com/article/10474076