Latest news with #SlateAuto
The Verge
2 days ago
- Automotive
- The Verge
Mark Walter is buying majority ownership of the Lakers at a $10 billion valuation,
LeBron James, combat drones and Slate Auto? reports ESPN. Walter runs TWG Global, which owns chunks of other sports teams, and also owns a fun grab-bag of other companies, including Shield AI and Slate Auto. LeBron-themed pickup truck when?
CNBC
07-06-2025
- Automotive
- CNBC
Slate Auto: Inside the EV startup, stealth production facility backed by Jeff Bezos
LAKE ORION TOWNSHIP, Mich. — In a nondescript supplier park in suburban Detroit, an electric vehicle startup backed by Amazon founder Jeff Bezos is building what it hopes will be America's newest automaker. The facility is filled with dozens of prototypes, crash-tested vehicles, a crude lab vehicle skeleton adorned with wires and, most importantly, a busy "beta" assembly line that has been building electric vehicles since December for the startup, Slate Auto. Slate is using the location — a stone's throw away from a massive General Motors assembly plant — to produce more than 70 vehicles for internal testing, certification and everything else a company needs to prepare to produce and sell vehicles in the United States. The beta production line features roughly a dozen labeled stations for things such as the vehicle's doors, tailgate and front ends that sit in bins or on surface areas made out of wood and steel parts. Employees move back and forth between the bins, tables and assembly line as songs such as Whitney Houston's "Saving All My Love for You" and Pat Benatar's "Love is a Battlefield" echo throughout the lively facility. The largely hand-built vehicles being made are bare-bones, two-seat, two-door electric pickup trucks that can also be converted to different body styles of SUVs, such as a five-seat fastback or into a squared-off look like a Jeep Wrangler. The vehicles have injected-molded composite exteriors, crank windows, no infotainment systems and a litany of do-it yourself options. The plan is for every vehicle coming off the line to be the same to reduce complexity, before adding any additional features or different covers/tops. Auto executives have tossed around the idea for such a modular, stripped-down vehicle amid the rise of connectivity and affordability concerns, but so far the challenges have outweighed the potential opportunities, or companies have struggled to keep prices down. Slate believes it can succeed where others have failed through simplified manufacturing and lower costs – two areas where other EV startups have failed in recent years. "This one's going to be different for a number of reasons," Eric Keipper, an auto veteran and Slate's head of engineering, told CNBC after a tour of the company's manufacturing facility. "We took the back-to-basics, only-the-essentials approach, and, really, we're building a completely new category of product." Slate exited its "stealth mode" in late April by revealing its first vehicles — several two-door electric pickup trucks and converted SUVs — that it expects to begin deliveries of by the end of next year. It's in the process of building out a full production facility at a former printing plant in Warsaw, Indiana, where it expects to have capacity for up to 150,000 vehicles a year. It's a daunting timeframe even for an established automaker, let alone a new startup that's establishing its supply chains, production processes and workforce, among other things. Hand-building vehicles at a small facility is one thing; mass producing them is another. "We've put together a really solid plan, and we're working to achieve the plan," Slate CEO Chris Barman told CNBC. "It doesn't mean that we follow the plan exactly. We gotta pivot when different information comes, but we understand what we've got to do to ultimately get to the goal of having vehicles that meet all of our requirements." Slate revealed its unnamed vehicle (the company is telling customers to name it themselves) to notable fanfare, attracting more than 100,000 reservations that required a $50 deposit. For other companies, however, vehicles reservations have fallen significantly short of actual sales. The company said it is conducting a Series C round of financing after raising $700 million in its first two rounds of financing. TechCrunch first reported the Series A round in 2023 raised $111 million from 16 investors, including Bezos. Other EV startups have needed significantly more funding and have quickly blown through billions of dollars annually attempting to get a vehicle into production. But Slate believes it can be far less capital intense thanks to the engineering and production of the vehicle. "We are building the affordable vehicle that has long been promised but never been delivered," Barman said during the April 24 debut. "But with a twist, it's a vehicle people are actually going to love and be proud to own." The company declined to discuss future targets such as sales and profitability, as well as expected capital requirements, other than that it plans to invest hundreds of millions of dollars in its Indiana plant. Barman and Keipper — veterans of Stellantis predecessor Fiat Chrysler, among other companies — met nearly three years ago to discuss the vehicle and Slate's business plan as the first employees of the startup. "It started with a blank slate," said Keipper. "The CEO and I sat together on the fifth of July in 2022 and looked at a blank whiteboard, and I filled it. I said, 'Here's the plan. Let's do this.'" During the reveal, the company positioned itself and its vehicle as a "a radically simple, radically affordable, radically personalizable car." The vehicle — which has a targeted starting price of under $20,000 with an up to $7,500 EV credit — features many "off the shelf" parts from suppliers, lowering costs. Its body also is exclusively injected molded composite instead of steel or aluminum, bringing down cost and weight. It does not feature any "connectivity" such as a modem or large screens, just a small driver information screen. Instead of a center infotainment system, drivers can use their own devices such as a smartphone or tablet for navigation and music. Speakers also are optional. The exteriors of the Slate vehicles also won't be painted. The company says it was engineered to be wrapped with a vinyl film, eliminating the need for a costly paint shop — a massive investment for automakers. The basis for the company is for consumers to be able to easily change the vehicle themselves or add whatever they'd like to it after purchase through the removal or addition of bolts. The company plans to offer some services such as the vehicle wrapping, but customers aren't required to do those things through Slate and can purchase add-ons later. Slate says the vehicle — about the length of a two-door Ford Bronco — only features roughly 2,500 parts, including only 500 to 700 "end items," or parts, for final assembly. That compares with a Slate estimate of 2,500-end item parts for other competitors and thousands of more overall pieces. "Fundamentally, there's no new technology because technology costs money to develop," said Jamie Standring, formerly with Karma Automotive and Stellantis/Fiat Chrysler, standing by the beta assembly line. Standring said the initial idea was to have the vehicle's frame that everything is built upon be bolted together – almost like an erector set – to remove the need for a full body shop, much like it's attempting to not use a paint shop. But the drawbacks eventually outweighed the benefits, he said. The Slate truck is expected to ship with a standard 52.7-kWh battery with an estimated range of around 150 miles, or a 84.3-kWh pack with a target of 240 miles of range. Its battery supplier is SK On, according to the company. Its top speed is only 90 miles per hour. "I'm really proud of the team for how they really thought out of the box," Barman said. "We'll have kits, and we're doing it in a way that's lean as well, but we want to offer people many choices." But more choices for consumers mean more complexity. On the company's website, there are 11 categories for customers to customize with a combined 160 options, excluding customizable exterior colors for wraps. That's a lot of options – ranging from dozens of decals to lighting, audio and tires and wheels – for a customer to pick and a company to store and offer. Slate executives say the point of the customization is for customers to be able to make the vehicle their own and easily upgrade or change it when they'd like, but auto analysts see it as one of many potential problem areas. In addition to traditional startup challenges such as capital, profitability and scaling up, other hurdles include: A limited market for two-door vehicles, slower-than-expected adoption of EVs and regulatory uncertainty regarding federal tax credits that Slate is relying on for the vehicle's affordability, among other things. "They have an interesting idea," said Stephanie Brinley, associate director in AutoIntelligence at S&P Global Mobility. "The question is, how many people really want to do that much themselves, and how big is the adjustable market?" The sale of two-door regular cab pickup trucks like Slate's debut vehicle only accounted for less than 90,400 registrations in 2024. That compares to more than 2.5 million registered four-door crew cab trucks. Brinley, who attended Slate's reveal event in California, said if the company wants to be sustainable, it would need to expand its product lineup to four-door models, which the platform seems to be able to support, as well as additional vehicles in the future. "Just like every other startup before it, their sustainability is not going to be determined by the first product in the first six months," Brinley said. "The first product just gets you in the door." A handful of auto startups such as Lordstown Motors, Electric Last Mile Solutions, Fisker, Canoo and Nikola all made it into various forms of production but went bankrupt. Even better capitalized EV startups such as Rivian Automotive and Lucid Group have continually had to raise capital to stay afloat. Industry insiders also have raised concerns about the affordability of Slate's vehicle once customers add options or a new SUV top, which can be installed and uninstalled using bolts. "I think it's super interesting. The idea behind it, we've talked about that idea a million times," Tim Kuniskis, CEO of Stellantis' Ram Truck brand, said recently when asked about Slate. "Now, what's it going to actually transact at in the marketplace … when people start to option them up, it's not going to be $20,000. It's going to be $35,000, and by the time you get to $35,000, you're in midsize truck territory. " Slate has not announced pricing for customizations or exact pricing of the vehicle without a federal tax credit that's in jeopardy under President Donald Trump. "Slate is an example of why and how hard it is to produce a cheap EV" said Karl Brauer, a veteran auto analyst with "They are producing an electric vehicle with only two seats, 140-mile range, manual windows, no touch screen, and it's still $27,500 … To me, it's not a competitive vehicle at that point." Brauer said there are other EVs close to that price, as well as smaller pickups such as the Ford Maverick hybrid with a lot more features that could be a better buy for consumers. Both Brauer and Brinley gave Slate credit for trying something new and attempting to address affordability concerns, but the auto industry isn't an easy busy to break into, even when starting from a blank slate. "It's modular. It's cool. It's a really clever idea," Brinley said. "The question for me comes down to how many people want to do that? And we'll find out, but I don't know that it's as high as they think it is."
Motor Trend
04-06-2025
- Automotive
- Motor Trend
A New EV for Less Than $8,000? In This Economy?!
Established automakers seem to have all but abandoned the notion of cheap cars, but startups are seeking to fill the void. Here in the United States, Slate Auto has introduced a modular pickup truck that it plans to sell for around $27,000—an eye-popping price for a rational vehicle format, given America's love of pickup trucks. Overseas, Citroën sells the Ami—Fiat's version is the Topolino—which technically is a quadricycle and thus super small and affordable. Seeking to fill a similar void in its home market of Japan, Hiroshima-based KG Motors has introduced the Mibot, a funky-looking single-seat electric mini car with a roughly $7,650 sticker that, surprisingly, has us looking longingly across the Pacific. 0:00 / 0:00 Just like the Slate Auto Truck looks to fill a gap in our market, the KG Motors Mibot aims to do the same in Japan. According to Bloomberg, KG Motors designed the Mibot primarily for older rural buyers without great public transportation options and younger urbanites who need to drive through the country's famously narrow streets. Designed to be easy to build and operate, the Mibot appears to be dead simple. Its symmetrical styling has a cutesy '80s aesthetic outside, while inside it sports a single seat with an OTA update-capable infotainment display to the left and a bank of switches on the right. Underneath it sports a single rear-mounted permanent magnet motor rated for 6.7 horsepower (0.79-hp continuous) and a 7.68 kWh LFP battery pack. It'll have a top speed of 37.2 mph and can cover about 62 miles at a steady 18.6 mph. It'll take about 5 hours to recharge the Mibot on a standard Japanese 100-volt outlet. Level 2 and Level 3 charging aren't supported. But at least you'll have standard heating and cooling and a cargo area large enough for 'two 18-liter kerosene tanks.' Unlike larger Kei cars—a sentence we never thought we'd write—such as the popular $16,000 Nissan Sakura, KG Motors built the Mibot to meet Japan's 'original minicar' regulations, reasoning that so many of Japan's cars are overbuilt for how the country's drivers actually use their cars. Japanese regulations stipulate that minicars like the Mibot must be less than 98.42 inches in length, 51.2 inches in width, and 78.7 inches in height; seat a single person; and displace no more than 0.05-liter (50 cc) for internal combustion vehicles, or have an electric motor rated at no more than 0.8 hp of continuous output. Though Mibot drivers must ride solo (though the company says pets are allowed in the hatch area) benefits for minicars include cheaper insurance, no required proof of having a parking spot, and no required inspections. The company told Bloomberg that it has received 2,250 firm orders thus far, putting the EV on a path to outselling Toyota's own electric offerings in Japan. Stateside, Slate says its secured 100,000 reservations for its tiny cheap electric pickup.
Top Gear
28-05-2025
- Automotive
- Top Gear
Everything you need to know about Jeff Bezos' $20,000 pickup truck
Advertisement Video The back-to-basics Slate Auto Truck is here, and we've had a good poke around a prototype 17 minutes 57 seconds Just when we thought we'd exhausted all talk of a billionaire's electric pickup truck, another one casually slides into the chat. Only this one (backed by Amazon's own Jeff Bezos) has no fancy party tricks or out-there promises. Rather, Slate Auto plans to offer a cheap, simple EV with manual winding windows and plastic body panels for day-to-day workhorse duties. Advertisement - Page continues below Want to know more? We popped over to the Slate design studio in Los Angeles for a proper look around, so have a watch of the video above and then let us know in the comments whether you think Slate will stick the landing. You might like Advertisement - Page continues below Looking for more from the USA? Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox. Video USA Electric Truck News
Fast Company
27-05-2025
- Automotive
- Fast Company
This company wants its $20K EV to generate buzz and sales. Will there be enough stations to charge them?
Last month in Los Angeles electric vehicle startup Slate Auto revealed its low-cost, American-made electric truck, with hopes to become the holy grail the auto industry needs to make EVs more affordable and company expects its trucks' sales price to be less than $20,000 with $7,500 U.S. federal tax incentives taken into consideration. While markets like Europe and China are seeing moderate to accelerated sales growth in their electric vehicle markets, the transition to EVs is slower in the United States. According to McKinsey's latest annual survey, 12% of respondents in the U.S. said they intend their next car purchase to be a battery electric vehicle. However, the rate of EV adoption depends on where consumers are located in the country with urban areas seeing rates twice as much as rural areas. That data may indicate that adoption rates in the U.S. will remain slow, but Slate Auto chief commercial officer Jeremy Snyder is hoping the company can build demand by focusing on accessibility. 'Slate is approaching the automobile differently,' Snyder says. 'We are not competing with the existing market so I think it is creating a new one. People are going to want this one for the price, for the personalization.' According to the company, Slate Auto has raised its Series A and Series B, amounting to almost $700 million in funding. The company plans to produce up to 150,000 vehicles annually by the end of 2027—which would be less than 10% of Tesla's 2024 deliveries, but roughly three times what luxe EV brand Rivian expects to deliver this year. Less Money, more problems? Currently, the average transaction price of an electric car in the U.S. is $59,205. Much of the market is dominated by high-dollar makers like Tesla, Rivian, and Polestar, which are likely out of reach for hourly wage workers—Slate Auto's target audience. 'When you talk about target demographics for current automotive, everybody is going towards the top 20%, 30% of the market,' Snyder says. 'We don't need to focus there. We need to focus [on] the folks that don't have a lot of product choice. Those are the folks that we are really wanting to provide a safe, reliable, and affordable vehicle to.' Since its reveal event, a recent report indicates that the company has garnered over 100,000 refundable reservations ahead of the truck's availability, which is expected by the last quarter of 2026. Infrastructure issues Though Slate's early numbers suggest an appetite for low-cost EVs, that hints at a need for more robust charging infrastructure, according to Philipp Kampshoff, McKinsey senior partner and leader of the consultancy's automotive practice. ' The moment you tap into the volume segment, you will also tap into a part of the consumer population that is going to be more reliant on public charging,' Kampshoff says. 'Right now, most of the battery electric vehicle buyers are more affluent. They tend to have their own houses and they can charge at home. The moment you go more and more in the volume segment, [you] will have people that don't own their houses and may be renting.' McKinsey's summer 2024 report on EV buying trends, found only 9% of respondents felt existing charging infrastructure was sufficient. Kampshoff explains that particularly in the U.S., there is a 'chicken and egg' problem when it comes to public charging infrastructure. Some consumers are hesitant to purchase an EV because public charging stations are either not visible or do not exist. On the other hand, charging infrastructure players may not want to invest in establishing charging stations because of low EV ownership. Based on lessons from other regions, potential solutions to this problem could center on government incentives beyond subsidies. For instance, in China, some nonmonetary incentives include preferential parking for EVdrivers. Additionally, increasing awareness of existing public charging stations could also help resolve the issue. 'When people are worried because there's not enough charging infrastructure, you don't take that worry away unless you know they see it,' Kampshoff says. ' If you're driving down a highway, it's very easy to see a gas station. But, there's no signage for EV stations in most states.'
