Slate Auto Sets June 24 Date for EV Pricing and Preorders

Electric vehicle startup Slate Auto has confirmed that it will officially announce pricing and open non-refundable preorders for its flagship vehicle on June 24. The company, which has generated significant interest with its promise of a low-cost, modular EV, is currently incentivizing early supporters by offering priority delivery windows to those who place a $50 reservation ahead of the upcoming $300 preorder phase. This milestone marks a critical transition for the four-year-old startup as it moves from the concept phase toward its goal of delivering vehicles by the end of the year.

Slate Auto’s business model centers on a minimalist, customizable vehicle that can shift between truck and SUV configurations. While the company initially targeted a sub-$20,000 price point, the recent elimination of federal EV tax credits has forced a shift in expectations, with the base model now projected to start in the mid-$20,000 range. Despite this adjustment, the startup has successfully captured the attention of over 160,000 reservation holders, proving there is a clear market appetite for stripped-down, affordable electric transportation.

To navigate the notoriously difficult transition from prototype to mass production, Slate has bolstered its leadership and financial foundation. Under the guidance of new CEO Peter Faricy, a former Amazon executive, the company is leveraging a $1.4 billion total capital raise—including a recent $650 million Series C round—to scale operations. With heavy backing from high-profile investors like Mark Walter and Jeff Bezos, Slate is well-capitalized, but the company faces the classic industry challenge of converting non-binding reservations into actual sales. The June 24 announcement will serve as the first major test of whether the company can maintain its momentum in a competitive and increasingly price-sensitive EV market.