Slate Auto drops “under $20,000” pricing after Trump administration ends federal EV tax credit

Slate Auto, the electric vehicle startup with backing from Jeff Bezos, has recently revised its pricing strategy for its upcoming electric pickup truck. Initially, the company advertised a starting price of "under $20,000," a figure that relied heavily on the now-terminated federal EV tax credit following the passage of President Trump's tax cut bill. The tax bill, which is poised to be signed into law on July 4, will result in the conclusion of the $7,500 federal EV tax credit by September. This incentive was a crucial element for Slate, as it aimed to keep the price of its all-electric pickup within reach for consumers. Despite the initial promotional language still appearing on Slate’s website as of yesterday, the company has since ceased emphasizing the under-$20,000 price point. This adjustment poses a significant challenge for the fledgling company as it strives to deliver an electric vehicle that is both affordable and appealing to a broad audience. During its launch event in April, Slate did not disclose a specific starting price, and the company has yet to clarify what the vehicle's price will be without the tax credit. A spokesperson for Slate declined to comment on the recent changes. Currently, the company does not plan to commence production of the truck until late 2026 at the earliest. Slate's business model also emphasizes a high degree of customization, which raises questions about how many consumers will opt for the base model. The promise of a sub-$20,000 electric vehicle had been a significant draw for the startup, especially as it positioned itself against an auto industry that has seen prices soar beyond the reach of many Americans. "We are here to change that," stated chief commercial officer Jeremy Snyder during the launch. CEO Chris Barman echoed this sentiment, asserting, "We are building the affordable vehicle that has long been promised but never been delivered."