Bezos-backed Slate Auto gets 100,000 orders for its customizable EV
What's the story
Slate Auto, an up-and-coming electric vehicle (EV) maker, has crossed over 100,000 refundable reservations for its affordable electric pickup truck.
The milestone comes just over two weeks after the company's official unveiling at an event in Los Angeles.
The vehicle costs less than $20,000 after factoring in the $7,500 federal EV tax credit.
The minimalist, modular pickup aims to make electric vehicles more accessible to the average American driver.
Public response
Slate Auto's rapid reservation milestone reflects strong interest
Jeremy Snyder, Slate's Chief Commercial Officer, thanked everyone for the positive response to their brand and vehicle launch.
He said, "We are truly humbled by America's response to Slate's brand launch and the launch of our truck. We are excited for what the future holds."
The rapid 100,000 reservations show how much people have been interested in Slate Auto since its truck reveal.
Reservation caveat
Refundable reservation fee does not guarantee sales
However, it is important to note that the $50 refundable fee to reserve a spot in line for the truck doesn't mean these reservations will translate into actual sales.
This model has been employed by other EV start-ups in the past, with varying success.
Fisker, for example, filed for bankruptcy after selling just a few thousand Ocean SUVs despite having over 60,000 reservations at one point.
About the car
Slate EV is designed with simplicity in mind
The Slate EV features manual crank windows, no built-in infotainment system, and a standard gray polypropylene exterior.
Instead of traditional paint options, customers can personalize their vehicles with vinyl wraps.
The base model includes essential features like air conditioning and a smartphone mount, with additional accessories available for customization.
One of the standout features of the Slate EV is its modular design. Owners can transform the two-seat pickup into a five-seat SUV using optional kits.
Production goals
Slate Auto's ambitious production plans and investors
The Slate EV comes with two battery options: a 52.7 kWh pack offering around 240 km of range, and an 84.3 kWh pack extending it to about 385 km.
It runs on a 201hp rear-mounted motor and supports both AC and DC charging, including Tesla's NACS standard.
The company aim to produce 150,000 vehicles by 2027-end at its Indiana factory.
To meet this target, Slate has got strong backing from high-profile investors like Jeff Bezos and VC firm General Catalyst.