All Access

Climate Deals

Standard

Climate Deals Thought Bubble

Thought Bubble

Climate Deals Alerts

Alert

mustard

BFD Expert Voices - Climate Deals

BFD Expert Voices

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

pittsburgh

atlanta

san-diego

charlotte

boulder

washington-dc

kansas-city

dallas

denver

detroit

des-moines

austin

boston

chicago

cleveland

columbus

houston

indianapolis

miami

nashville

new-orleans

nw-arkansas

philadelphia

phoenix

portland

richmond

salt-lake-city

san-antonio

san-francisco

seattle

tampa-bay

twin-cities

raleigh

huntsville

colorado-springs

axios-local

axios-pro

axios-live

the-axios-show

New EV maker Slate Auto, backed by $111 million in Series A funding, unveiled its electric truck at an event in Long Beach, California, on Thursday night.

Why it matters: The launch is emerging at a time when the growth rate of EV sales has slowed, U.S. policy is cooling to EVs and the country is facing macroeconomic turmoil. 

Zoom in: Slate says its barebones, low-cost, and highly customizable electric truck will cost less than $20,000 with the federal EV tax credit for a stripped-down EV with no paint, manual windows, a 150-mile battery range, and no infotainment system. 

Slate will be offering over 100 different accessories for buyers to customize their trucks and boost that price with add-ons like vehicle wraps, a bigger battery, and an SUV kit. Many of the accessories are meant to be added DIY-style by the owner.

Slate CEO Chris Barman told Axios that the company plans to manufacture its EVs at a rate of 150,000 per year at a location in the Midwest. It was previously reported to be somewhere near Indianapolis, Indiana.

What's next: Slate plans to start producing its EVs as soon as late 2026.

Slate is "between rounds," right now but plans to open up a fundraise in the "not too distant future," said Barman, a longtime Chrysler vet.

Catch up quick: Earlier this month, TechCrunch reported that Slate had raised a Series A round in 2023 from investors including Jeff Bezos and Mark Walter, the controlling owner of the LA Dodgers and CEO of Guggenheim Partners.

General Catalyst is also an investor in the company, Barman tells Axios.

The big picture: Slate's launch strategy is markedly different than EV peers Tesla, Rivian and Lucid, which have focused on higher-end, higher-priced EVs as initial products. 

In general, selling low-margin commodity products is a difficult way to compete in climate tech. 

The industry is riddled with defunct independent EV players like Fisker, Canoo and Nikola. The current market conditions and policy uncertainty only add to the challenge.

Bezos-backed Slate Auto launches in a tough market

The launch comes at a tough time for EV makers.

An electric pickup truck made by startup Slate 

Slate Auto's new electric truck is planned to cost below $20,000 with federal incentives. Photo: Courtesy of Slate Auto

New EV maker <a class="gtmContentClick" data-vars-link-text="Slate Auto" data-vars-click-url="https://www.axios.com/2025/04/09/an-ev-startup-hiding-in-plain-sight-in-detroit-future-of-mobility" data-vars-content-id="55afb61b-8cda-49cd-8ee7-dad063825315" data-vars-headline="Bezos-backed Slate Auto launches in a tough market" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/04/09/an-ev-startup-hiding-in-plain-sight-in-detroit-future-of-mobility" target="_self">Slate Auto</a>, backed by <a class="gtmContentClick" data-vars-link-text="$111 million" data-vars-click-url="https://techcrunch.com/2025/04/08/inside-the-ev-startup-secretly-backed-by-jeff-bezos/?_thumbnail_id=2991135" data-vars-content-id="55afb61b-8cda-49cd-8ee7-dad063825315" data-vars-headline="Bezos-backed Slate Auto launches in a tough market" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://techcrunch.com/2025/04/08/inside-the-ev-startup-secretly-backed-by-jeff-bezos/?_thumbnail_id=2991135" target="_blank">$111 million</a> in Series A funding, unveiled its electric truck at an event in Long Beach, California, on Thursday night.Why it matters: The launch is emerging at a time when the growth rate of EV sales has slowed, U.S. policy is cooling to EVs and the country is facing macroeconomic turmoil.

Bezos-backed Slate Auto launches in a tough market

What to read next