New Slate Electric Truck Debuts With Sub-$20k Price Tag (After Rebates)
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Slate aims to disrupt the automotive industry with a new vehicle and way of doing business that focuses on the necessary and gives buyers the power of choice at a budget-conscious price. The company revealed its Slate Truck on Thursday in Long Beach, California.
"The definition of what's affordable is broken," said Slate CEO Chris Barman. "Slate exists to put the power back in the hands of customers who have been ignored by the auto industry."
Paul Waatti, director of industry analysis at AutoPacific, told Newsweek he believes "Slate is poised to challenge entrenched norms in the auto industry by profoundly rethinking how vehicles are designed, built, personalized, and sold. At a time when EV startups often chase high-end buyers with complex tech and escalating price points, Slate takes a distilled, contrarian approach—simplification, modularity, and a focused affordability strategy."
Slate's truck is 20 inches shorter in length than the Ford Maverick and one foot narrower (nearly the same width as a Toyota Corolla), cementing it in the small truck category.
The unique truck is a two-seat pickup that will be sold in a single configuration - one bed size and one cab style. Simplicity is key to the design team's approach to the model; its windows crank and there are climate control knobs. There is no infotainment system nor a touchscreen. It wears steel wheels on each corner.
According to Waatti, the company is "tapping into a growing fatigue with over-digitization in vehicles. By inviting customers to "bring your own tech" and focus on tactile, analog controls, Slate speaks to a growing audience alienated by bloated infotainment stacks and touch-heavy interfaces."
From that baseline, buyers can build up their model which has a 1,400-pound payload capacity and a large front trunk (frunk). When deliveries begin, over 100 accessories for the model will be available individually or bundled. Owners can purchase the accessories at initial purchase or over the vehicle's lifetime, as their budget allows.
Though initially sold as a truck, the model can be transformed into an SUV through an accessories package. "Slate is a radical truck platform so customizable that it can transform from a two-seat pickup to a five-seat SUV," Barman said.
Those who purchase the SUV kit get a roll cage, airbags, a rear seat and body panels. Owners can complete the installation themselves or have it done for them.
A universal phone mount and USB outlets allow a person's smartphone to serve as the infotainment hub. Owners can also install a mount for the tablet of their choice and connect any device to a self-installed speaker system or a portable speaker.
Slate owners also have the option of wrapping their vehicle or having it wrapped by a pro. Customers can choose from three levels of wrap, which is designed to make the vehicle especially personal.
The automaker will host SlateU tutorial videos on its website to instruct owners on how to enhance their model whether through accessory additions or wrapped elements.
Buyers can choose between two battery packs for the mode, a 52.7-kilowatt-hour (kWh) pack or an 84.3-kWh one. The rear-wheel drive truck's smaller battery delivers a targeted 150 miles of all-electric range. The larger is expected to offer up to 240.
Slate's model is charged via a NACS (North American Charging Standard) port, the same as a Tesla and the type of port many mainstream automakers are transitioning to. Using that port, the truck can charge to full overnight on a household outlet or fast-charge to 80 percent when attached to a 120-kilowatt charger, in under 30 minutes.
The American company will purchase American-made batteries for its electric truck and assemble the model in the U.S.
"Made in America is very important to us. We have a passion, we want to re-industrialize America, and in doing that, we're targeting where our location will be in the heart of the Midwest. We want to go into a brownfield [site]. We want to take that and make it over into something that's going to bring a new technology to a community that may have had what for many years a thriving business that over time, for whatever reason, unfortunately, had a shutter. What we want to do is go back in and use that facility and revitalize that community," Barman told Newsweek.
Waatti says "Slate's re-industrialization narrative—building in the U.S., with a transparent pricing model and service infrastructure—is well-timed to resonate in a post-COVID, tariff-conscious economy where domestic manufacturing and affordability are back in focus."
Slate intends for the vehicle to achieve high safety ratings. It will equip the model with automatic emergency braking and forward collision warning technology and have up to eight airbags.
"The vehicle will be an IIHS Top Safety Pick, as well as an NCAP (National Highway Traffic Safety Administration's New Car Assessment Program) 5-Star. Often people get concerned when they hear affordable that they may think, 'where have corners been cut?' There's been no compromises here. It will meet the highest safety standards within the industry," Barman said.
"I think next that comes to mind with people is, 'If it's affordable, does it mean that there's going to be some compromise on quality or the reliability of the vehicle?' [Addressing that has] been paramount for us. We [are working to ensure that we] meet the highest quality levels as well as [being] a very reliable vehicle, so that people can depend on it day in and day out for many years, to be able to service them in the way that they need to," she said.
The company plans a direct-to-consumer sales model that allows purchasers to order their new Slate online, take delivery near their home and find a service location in their neighborhood.
"For us, what was really important is we want to own the relationship with the customer. We want to connect with them. We want to service them. We want to make sure that they are satisfied as they're going through the purchase process, be it for the vehicle or be it for the accessorization, and even later, if it may be with service. It's important to us that we have that connection to the customer and that we are the ones that are able to keep them satisfied," Barman said.
Slate announced that the price for its new electric truck would be less than $20,000 when federal rebates are applied to the purchase. The continuation of those rebates is not guaranteed.
"We're just very focused on our primary customer - it's that wage earner. It's that hard-working American. And, regardless of other dynamics that may be happening, we know that we want to serve those hard working people and provide them with safe, reliable, affordable transportation. That's been our focus and our mission since we've started. We also want to provide a vehicle that is desirably designed that those individuals are going to be very proud of, proud to own, proud to drive, and proud to put their own personality with into the vehicle, to have it be an expression of themselves," Barman said.
And Waatti adds that if successful, Slate "could shift expectations not just for what a vehicle is but also for how it's configured, purchased, and owned. It's not just a vehicle—it's a modular mobility platform built for people who want control, simplicity, and value. That's a potent combination in today's market."
Interested buyers can reserve their vehicle with a $50 deposit today at the company's website. The deposit is fully refundable.
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Newsweek
4 hours ago
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How Austin Is Navigating the Post-Pandemic Housing Hangover
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Home prices are once again falling in the pandemic-era boomtown of Austin, as the Texas city continues experiencing one of the most dramatic corrections in the country. The median sale price of a home in Austin was $560,000 in May, down 4.6 percent from a year earlier and from $575,000 in April, according to Redfin data. In May 2022, when home prices reached their peak in the city, a typical home in Austin would cost buyers an average of $667,050—more than $100,000 more. Despite facing lower prices, buyers in the city are staying put. Home sales in Austin declined by a staggering 12.9 percent year-over-year in May. A total of 853 properties went under contract that month as mortgage rates still hovered around the 7 percent mark and economic uncertainty grew across the country. Not only were fewer homes in the Texas capital sold that month, but those that managed to find buyers waited an average of 48 days on the market before the deal was closed, 6 days more than in May 2024. Nearly 40 percent of homes sold (37.1 percent) had price drops. By comparison, home prices continued to rise at the national level last month (up 1 percent year-over-year), while home sales decreased by a more modest 5.9 percent compared to the same period a year earlier. Photo-illustration by Newsweek/Canva "What we're seeing in Austin is a necessary and overdue normalization after an unprecedented period of price acceleration during the pandemic. It is a return to sustainability," Emily Girard, chief executive officer of Unlock MLS and the Austin Board of REALTORS, told Newsweek. "We've come off a period where double digit annual price increases weren't a viable option for the long-term health of our market. This recalibration was expected and welcomed many buyers who were previously sidelined." How Did Austin Get Into This Mess? In the years following the outbreak of the COVID-19 pandemic, the Austin metropolitan area, which includes Round Rock and San Marcos, experienced significant growth, dramatically reshaping its housing market. Thanks to its relative affordability, high quality of life and thriving job market, the city has long been one of the fastest-growing in the country, adding nearly 1 million new residents every year between 2020 and 2023, according to data from the U.S. Census Bureau. All these newcomers needed housing, and when historically low mortgage rates spurred a homebuying frenzy across the country in the pandemic years, Austin quickly found itself short on inventory. "In 2021 during the pandemic, more homes were sold in the Austin-Round Rock MSA than ever before, and sales dollar volume yielded more than a $23 billion impact on the Austin-area economy," Girard said. "The pandemic led to increased demand as buyers in the market had more disposable income and reevaluated their needs in a living space after spending months at home," she said. "That, combined with record-low interest rates at the time and an Austin economy that continued to make major company relocation announcements regularly, led to more homes being sold and prices increasing to an unsustainable level." What Is Happening Now in Austin? The story of the Austin housing market "is basically the same as the national story, just a bit more dramatic," Joel Berner, senior economist at told Newsweek. "Following the peak of the pandemic, there was a major run-up in home prices amid record-low mortgage rates as buyers rushed to snatch up homes," he said. The median listing price of a home in the Texas city jumped from $369,745 in April 2020 to $625,000 in April 2022, marking a 69 percent growth over just two years. Inventory plummeted during this period, contributing to sending home prices through the roof, but recovered quickly to pre-pandemic levels by 2023. "Since then, inventory has continued to grow year-over-year," finally slowing down the vertiginous growth of home prices in the city, Berner said. According to data from the number of active listings in the Austin-Round Rock area reached 12,525 in May, the highest figure on record since the company began tracking data in 2016. "The correction has come for Austin sooner and more significantly than the national housing market," Berner said, alluding to the recent surge in inventory across the country. In May, there were 2,027,277 homes for sale in the United States, according to Redfin, representing a 13 percent year-over-year increase. Sellers currently outnumber buyers by 500,000 in the U.S. housing market. While Austin has gone from boom to bust in many ways, experts say that the city's housing market is far from crashing. Dwindling sales and falling prices are just a sign that Austin is reverting to being "a normalized market," Girard said. "The demand for homes in Austin is still there. At the same time sellers are adapting to buyer affordability challenges in a higher interest rate environment," she said. "Just last month, pending home sales in the Austin-Round Rock-San Marcos MSA jumped 16.1 percent in May, showing that buyers are still very much engaged when prices meet the market," she added. "Sellers are still reaping significant returns, up to 30 percent more than they would have five years ago, even after adjusting their list prices by 7 to 10 percent to reflect today's interest rates." What Does This Mean for Buyers in the City? And Sellers? "For buyers, this is one of the most favorable environments we've seen in years," Girard said, referring to the Austin market. "Buyers have time to shop, compare and negotiate—luxuries that weren't available during the pandemic boom. They're in the market with more intention and more options, especially with increased affordability for first-time and moderate income homebuyers." Jeremy Knight, an Austin-based realtor at The Knight Group, told Newsweek that buyers in the Texas capital are finding very affordable homes at a time when many across the country are struggling. About 59 percent of the homes that sold last month were under $500,000, he said, and 45 percent were under the national average of $415,000, "which means more buyers are finding affordable homes." Knight said that many sellers are still hoping to get the prices they would have fetched in 2022 for their properties, but that is no longer possible. "Some sellers are being smart about pricing and those homes are selling. Unfortunately most realtors are having a hard time both pricing homes to where the market is, and having that hard conversation with their sellers about price," he said. "So, is this the boom hangover? For sellers, it is," he added. "For buyers that want to take advantage of the market and are not scared or understand that rates are high, but they can get a great deal on price and potentially get more closing costs from the seller, this is the time to get great deals." Where Does This Leave Austin? The unfolding correction is "a positive shift" for Austin, Girard said, "and one that supports a healthier housing environment for the long term." According to Knight, home prices in Austin are expected to continue declining this year. "That's because in the last half of the year we always have more inventory. And if you ever look at the seasonal bell curve in Austin's selling season, prices always come down in the last half of the year," he said. However, there are many buyers on the sidelines, which could alter the current market's dynamics if given the chance. "If we do see rates come down in the last half of the year, you'll see more closed numbers and buyers frantic in the market," Knight said. "I don't think prices will shoot up. Prices will flatten out and buyers will still get good deals," he added. "So, I'm projecting a strong last half of the year in sales. We could see positive year-over-year numbers closer to the end of the year if rates drop into the 6.5 percent or lower range." Next year, the city could potentially see home prices going back up, so buyers should take advantage of this moment, Knight said—even if double-digit hikes are likely a thing of the past for Austin. "Buyers are going to say, 'Oh, I should've bought last year.' But positive year-over-year numbers aren't going to be the same numbers as we saw in 2021-2022. Nothing like that," he said. "But, most likely in the 3-5 percent range. Which is what Austin typically saw before the pandemic."
