Slate Auto Opens Ordering for Low-Cost EV on June 24
▼ Summary
– Slate Auto will begin taking preorders for its low-cost EV on June 24, with first deliveries expected late this year.
– The company has not announced the final starting price, previously citing a mid-$20,000 range after the $7,500 federal tax credit was eliminated.
– Over 160,000 customers have made refundable $50 reservations since the EV was revealed last year.
– Slate appointed former Amazon executive Peter Faricy as CEO in March and has raised roughly $1.4 billion to date.
– Jeff Bezos was involved in Slate’s initial funding, but his family office manager has since stepped down from the board.
Slate Auto, the electric vehicle startup with backing from Jeff Bezos and LA Dodgers owner Mark Walter, has confirmed it will begin accepting orders for its affordable EV on June 24. The first deliveries are expected to roll out later this year.
The company sent out emails to prospective buyers on Thursday, urging them to place a reservation now ahead of “preorders” launching next month. Those who reserve early will receive a “delivery window before non-reservers,” according to the message.
One key detail remains elusive, however: the starting price. Slate previously indicated it would reveal final pricing in June, but the company has not yet done so. It did not immediately respond to a request for comment.
The four-year-old startup emerged from stealth in April 2025 after TechCrunch uncovered its plans to build a low-cost, minimalist, customizable vehicle. At one point, Slate claimed the base version of its EV , which can be converted from a two-seater truck to a five-seater SUV for an additional fee , would start at “under $20,000” with a $7,500 federal tax credit. But the Trump administration and Congress eliminated that credit late last year. Since then, Slate has been cagey about pricing, only stating that the vehicle will start in the mid-$20,000 range.
The concept of a simple EV with hand-crank windows and no paint has clearly struck a chord. More than 160,000 potential customers have placed refundable $50 reservations since the vehicle was unveiled last year. But as other EV startups have demonstrated over the past decade, converting those reservations into actual sales is a significant hurdle.
To address this challenge, Slate appointed a new CEO in March: Peter Faricy, a former Amazon Marketplace vice president. Many of the company’s leadership roles are now filled by ex-Amazon executives.
Slate has also secured substantial financial backing to support the difficult work of building and shipping an EV. In April, the company announced it had closed a $650 million Series C funding round, bringing its total capital raised to roughly $1.4 billion.
Much of that funding appears to have come from Walter’s financial firm, TWG Global. Bezos was involved in Slate’s initial funding, but his role in subsequent rounds has never been clearly defined. In May, TechCrunch reported that his family office manager had stepped down from Slate’s board of directors.
(Source: TechCrunch)
