Emerging EV Startup Slate Auto Surpasses 100,000 Reservations for Budget Electric Pickup
Slate Auto, a rising star in the electric vehicle industry, has announced that it has received over 100,000 reservations for its newly unveiled, affordable electric pickup truck. This milestone was reached just over two weeks after the company emerged from stealth mode and introduced the vehicle at a launch event in Los Angeles.
Priced at under $20,000 after applying the $7,500 federal EV tax credit, Slate’s customizable truck has quickly captured consumer interest. The company plans to manufacture the vehicles at a repurposed printing facility in Warsaw, Indiana.
“We’re incredibly humbled by the overwhelming response to Slate’s brand debut and our truck launch,” said Jeremy Snyder, Slate’s Chief Commercial Officer. “This is just the beginning, and we’re excited for what’s ahead.”
While the rapid pace of reservations highlights growing enthusiasm for Slate’s offering, it remains to be seen how many of those reservations will convert to actual sales. Each reservation requires only a refundable $50 deposit — a low barrier that may inflate early figures without guaranteeing follow-through.
The EV sector has seen similar scenarios before. Companies like Fisker and Lordstown Motors boasted tens of thousands of reservations, only to fall short of expectations. Fisker eventually filed for bankruptcy despite claiming over 60,000 reservations for its Ocean SUV. Lordstown, which also filed for bankruptcy, faced SEC charges for misleading investors about its preorder numbers.
Slate is aiming high. In addition to the pickup, the company plans to offer an SUV variant at a yet-to-be-announced price. Production capacity is expected to scale up to 150,000 vehicles annually by the end of 2027 at the Indiana plant.
The startup is also backed by a powerhouse group of investors, including Jeff Bezos (via his family office, Bezos Expeditions), Mark Walter (CEO of Guggenheim Partners), and venture capital firm General Catalyst — lending further credibility to its ambitious vision.
