A new Tesla challenger is quietly stacking orders, even as the EV market cools off.
Slate Auto now has 150,000 reservations for its low-cost electric pickup, up about 50% from this summer, according to CEO Chris Barman during an AMA on Tuesday. The truck is expected to launch late next year, and while the reservation count is not exactly Cybertruck-level hype, it does show something important: new sign-ups are outpacing cancellations.
A Price That Doesn’t Flinch
What stands out most is pricing. Slate’s electric truck is expected to land in the mid-$20,000 range, and Barman said that figure is “firm,” even after the $7,500 federal EV tax credit expired.
“The Slate is still affordable,” she said. “It doesn’t matter.”
That matters more than it sounds. As EV demand softens and incentives disappear, price sensitivity is becoming the main battlefield. Slate is positioning itself as a no-frills, genuinely affordable EV rather than a premium gadget on wheels.
More Than Just a Truck
Slate is also planning add-ons to broaden its appeal. Barman confirmed the SUV conversion kit will cost $5,000, and test drives are scheduled to begin next year. That flexibility could help Slate stretch a single platform across multiple buyer types without blowing up costs.
The Competitive Window Is Opening
The timing may work in Slate’s favor. Legacy automakers are scaling back EV production, pulling away from aggressive electrification targets. That creates more breathing room for EV-only players like Tesla $TSLA and newer entrants like Slate to grab share, even in a shrinking market.
Slate may not be a Tesla killer, but with a real price advantage and steady reservation growth, it is at least forcing the conversation back to affordability.