Slate Auto will start taking orders for its low-cost EV on June 24

Slate Auto, an electric vehicle startup supported by notable figures like Jeff Bezos and LA Dodgers owner Mark Walter, has revealed its plans to commence order-taking for its budget-friendly electric vehicle on June 24. This announcement comes as the company prepares for initial deliveries towards the end of this year. In a recent communication to potential buyers, Slate Auto encouraged early reservations ahead of the official preorder phase starting next month. This strategy aims to secure a delivery advantage for those who act quickly, although the startup has yet to disclose the starting price for its much-anticipated EV. Originally, Slate Auto hinted that the base model of its electric vehicle, which features a transformable design from a two-seater truck to a five-seater SUV, would be priced at under $20,000, especially with a federal tax credit of $7,500. However, changes in legislation last year have affected this credit, and the company now indicates that the starting price will likely fall within the mid-$20,000 range. The concept of a no-frills, customizable EV with basic features like hand-crank windows has captured consumer interest, leading to over 160,000 refundable reservations at just $50 each since the vehicle's announcement last year. Yet, as many emerging EV companies have experienced, turning these reservations into actual sales presents its own set of challenges. To address this, Slate Auto appointed a new CEO in March, with Peter Faricy, a former Amazon Marketplace vice president, stepping into the role. The leadership team has also seen a trend of filling positions with former Amazon executives, indicating a strategic shift in management. Furthermore, to bolster its production and delivery efforts, Slate Auto successfully completed a $650 million Series C funding round in April, bringing its total funding to approximately $1.4 billion. Much of this capital appears to have originated from Walter’s financial firm, TWG Global, while Bezos's involvement in later funding stages remains unclear. Recent reports have also indicated a shift in the board with the departure of Bezos's family office manager from her role on Slate's board of directors.