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Slate Auto will announce pricing and take preorders for its EV on June 24

Slate Auto, the EV startup backed by Jeff Bezos, will announce pricing and begin non-refundable preorders for its low-cost electric vehicle on June 24. The vehicle, expected to start in the mid-$20,000 range, has already attracted over 160,000 reservations. New CEO Peter Faricy, along with substantial funding, aims to successfully transition from reservations to actual sales.

Key points

  • Slate Auto will announce pricing on June 24, 2025.
  • The company began taking refundable $50 reservations, with non-refundable $300 preorders starting next month.
  • The base EV is expected to start in the mid-$20,000s after a federal tax credit was eliminated.
  • Slate's vehicle design emphasizes simplicity and customization, attracting significant consumer interest.
  • Over 160,000 potential customers have made reservations since the EV's reveal.
  • Former Amazon executive Peter Faricy is the new CEO, leading the firm with substantial funding and experience.
  • Slate has raised approximately $1.4 billion, with $650 million from a recent Series C funding round.

Why it matters

  • The EV market is rapidly evolving, with a surge towards affordable electric options reflecting current trends.
  • Many startups face challenges in converting reservations to purchases, a recurring issue in the EV industry.
  • The leaderships in tech companies increasingly include former Amazon executives, reflecting a shift in startup governance.

Slate Auto's upcoming pricing announcement marks a crucial step for the EV startup, which leverages significant funding and consumer interest to navigate challenges in the competitive electric vehicle landscape.