This year has been full of surprises, and we aren’t even halfway through April. Yet, I bet none of you reading this had what I’m about to tell you on your bingo sheet. Jeff Bezos, the mastermind of Amazon and the guy I’m surprised doesn’t live in a volcano, is funding an electric pickup truck. But he isn’t funding just any truck, as he wants to see a two-seat pickup truck that’ll cost around just $25,000 become real. These trucks will be the product of a secret company that nobody’s even heard of until now.
We know about the existence of this company, Slate Auto, because of the tech publication TechCrunch. I’ll warn you right from the jump, Slate Auto is still a very secretive entity. It has released no sketches, no concepts, or no photos of any kind. If you go to Slate Auto’s website, you’re presented with a single black page with just a form to fill out to get more information one day.
However, because of TechCrunch, we have a good enough idea of what’s going on to start dreaming about a truly cheap way to get around. Is Bezos working on the Amazon Prime of EVs?
A Company Nobody’s Heard Of
According to the TechCrunch report, Slate was founded in 2022 and has links to Framingham, Massachusetts-based Re:Build Manufacturing, a Bezos-connected company that sees itself reinventing American industry with its manufacturing incubator business strategy. Basically, if you run a startup and need manufacturing help, that’s what Re:Build says it helps with. Slate Auto was reportedly born out of an early 2022 project within Re:Build called Re:Car.
Slate resides in David Tracy’s old stomping grounds of Troy, Michigan, and it has been operating silently since its founding. It also has a presence in Los Angeles, California, too. However, despite the silence, TechCrunch was able to find out that the firm has been gathering hundreds of staff from major names, including Ford, General Motors, Harley-Davidson, and Stellantis.
In addition to funding from billionaire Jeff Bezos, Slate Auto has also attracted investment from Mark Walter, the controlling owner of the LA Dodgers and CEO of Guggenheim Partners. TechCrunch notes that Thomas Tull makes an appearance, a person notable for being the lead investor in Re:Build Manufacturing. Both of these guys are also board members.
Slate Auto has since gathered at least $111 million in one round of funding and more money in another round. TechCrunch was not able to ascertain how much Bezos has put in, but the report notes that Melinda Lewison, the person who manages the Bezos Expeditions family office, is noted as a director in state and federal documents.
Cheap Truck
But the real meat and potatoes here is that it appears that Slate Auto wants to upset the EV market. But instead of launching a luxury flagship like almost every other EV manufacturer since Tesla, Slate Auto wants to cater to the bottom of the market. From TechCrunch:
Slate Auto is tackling a big goal: an affordable two-seat electric pickup truck for around $25,000, according to two sources who were granted anonymity to speak about the company’s internal discussions. Leaders inside the company have mentioned the Ford Model T or Volkswagen Beetle as a North Star for the project, according to the people.
[…]
Slate plans to supplement the small margins of its low-cost truck by building out a line of accessories and apparel that owners can use to customize their vehicles and their looks, according to the sources and various job listings. It has filled its executive ranks with former Harley-Davidson and Stellantis employees – two companies that have historically leaned on these kinds of ancillary businesses (the former with apparel and the latter with MoPar parts and accessories).
As TechCrunch reports, current plans call for the truck to be built somewhere near Indianapolis, Indiana, as soon as late 2026. This truck could be pitched to be a driver’s “first car,” as TechCrunch reports. Apparently, a proof of concept vehicle for this truck does exist and it has been shown to the firm’s wealthy investors.
If it weren’t for the TechCrunch report, there would be nothing but breadcrumbs out there. Electrek published a report last week, but even they found exactly nothing.
What’s also interesting about this is something that TechCrunch might have missed. Will this vehicle have some open-source software and be easily repaired by owners? From the report:
One [job listing] posted in 2024 hinted the company will dub the customer customization process “Slate University.” The listing was originally titled “University Lead” and was renamed to “Head of Customer Education Repair & Maintenance” before the startup stopped accepting applications.
“We seek an enthusiastic, experienced Leader of Slate University to build and lead our game-changing approach to open-source content for customers to enhance their ownership experience,” the listing reads. “As the Lead, you will drive the strategy and ecosystem development for the educational content and delivery for Slate shoppers, customers, technicians, and partners.”
Still Mysterious
If you’re looking for the Amazon Prime of trucks, it’s too early to say, but that might not be the case here. Reportedly, Bezos is mostly just putting a ton of money into this project, not running it.
As of now, there isn’t much else known. It appears that Slate might be looking to outsource major components like the battery and motor, which makes sense. It also makes sense to lean on merch sales to make money. If you, like me, have been to a Harley-Davidson dealer at all in the past several years, you’ve undoubtedly seen more T-shirts, decals, and knick-knacks for sale than actual motorcycles. Some Harley-Davidson stores don’t even have any motorcycles to sell!
I’m pretty excited to learn more about this thing. If what TechCrunch found out becomes reality, we’ll see if a new automaker can come out of the gate swinging for the fences with a cheap truck, not some luxury car only the few can afford. Of course, a two-seat electric truck for just $25,000 will have some sort of compromises going on, as do all cheap vehicles. What will this thing be like? Will it be like a two-seat Ford Maverick? Will it be like a Kei truck? Or maybe will it be like the sweet Toyota Hilux Champ? We just don’t know yet, but we can dream!
Maybe Jeff Bezos of all people will help give America a mainstream, cheap EV pickup truck.
(Topshot: Toyota/Amazon/depositphotos.com)
Just a thought… starting an EV manufacturer from the ground up is somewhat easier than in the ICE age.
If you want to build an ICE car, you’re either sourcing a powertrain from an established manufacturer (with those pitfalls) or trying to build an emissions-compliant engine from square one. But batteries and electric motors are darn near commodity items these days and you don’t have to spend money on EPA certification.
Fuck Jeff Bezos and fuck this truck!
I believe you’d need the vibrating seat option for that. $115 on Aliexpress.
If it ever materialises, I can’t help feeling this would land in the market like the Tata Nano did in India. The market for new pickups in the US is (despite all logic) incredibly stratified and susceptible to consumer perceptions of status. No one in India wanted to be seen dead driving the “world’s cheapest car.”
Interesting point, I haven’t thought about the nano in some time. If I recall the target demographic was happier with their motorbikes and possibly 3 wheelers and wanted nothing to do with the nano. The guys driving full size trucks probably wouldn’t touch these things with a 10ft pole. But the maverick did pretty well at $22k. Kei trucks do well in Japan and they are cheap. It will be interesting to see how well that $10k Toyota does in Thailand. There is a US demographic that has been yelling for mini trucks for some time and what they want is all over the map.
How much status is there taking a date out on a smoky, smelly scooter, hanging onto the exterior of an overcrowded public transit train or bus or walking barefoot in the dirt?
Compared to those options you’d THINK they’d see any affordable, private new car as a Godsend.
People are weird.
part of the Nano’s problem was arriving ~5 yrs too late. The market and disposable income at the time let a lot of people move up and avoid the stigma of driving the cheap car. A few years earlier there was a large group of buyers who may have been OK with “get a car, any car” type of mentality. India’s rapid development from the late 90s to early 2010s created some weird scenarios. Many households went straight to cell phones and never got a landline. Or their first TV was already a LCD and jumped over CRTs. Things like that. The Model T enjoyed a bigger window where getting a car was the key and didn’t seem to suffer the same “yah, it’s a car, but it’s a shitty car” kind of sentiment.
Model Ts came out when other cars cost as much as a house. It wasn’t a schitty car for regular people , it was the only car for regular people
that’s kind of what I meant by “getting a car was the key”. It didn’t have the stigma of “eh I guess I’ll take this”.
Seems interesting hopefully it works out. Seems a very competitive space. Wasn’t this the place that acquired a facility in Auburn Hills?
A billionaire promising an imaginary $25K EV: The Sequel.
Cursory LinkedIn search shows about two dozen marketing and marketing-adjacent employees. We are about to get absolutely spammed by this company.
Their web site boasts exactly one real product: the spam list sign-up
So, on brand?
Well, I hope this goes quicker than Blue Origin.
The Toyota Hilux Champ is a good truck to emulate. A simple, body on frame, modular, and easy to repair design would be great. Sell the bed(s) as accessories, or sell the truck with no bed at all.
Or a decontented 1/3 size f150 lightening.
You know, like traditional pickups.
Not holding my breath on this. Would like the option for the fans here, but not expecting this to happen.
I will just leave this here, I am sure the two are unrelated;
https://global.toyota/en/newsroom/toyota/40145544.html
Wow this sets my brain on fire. Which is better/worse;
1. Original auto manufacturers who know how to build a car, sort of, but know nothing about computer/EV tech.
2. A Tech company that knows nothing about building cars.
3. An anonymous company that doesn’t know cars or tech.
I can’t wait for Climate Change to kill us all.
Well, Amazon/Bezos was a big early investor in Rivian, and Rivians seems to be well-received, just expensive.
Compared to the other big car and aerospace company-owning billionaire all over the news, Bezos tends to put competent people in charge then let them do their thing.
This and the Telo truck give me hope that someday soon a small truck will be back in my garage. Hopefully, before I die.
Would.
Re:Truck MSRP: $25,000
*Batteries not included
“Some assembly required.”
*ECU requires a $99.95 monthly subscription to TRUCK(os) and constant internet connection
** reduced dashboard ads available with the TRUCK+ subscription upgrade only
*** speeds above 35 MPH require Mobility Elite level engine package
**** Use during commute hours incurs 25 cents/mile congestion tax (CA, NY only)
***** tailgate mounted real time ad display panel required for use on public roads
***** other fees and restrictions subject to randomly changing TOS
Wake me up when I can order one on Amazon.
Photograph looks like the frame is bent. Cab and bed should be aligned.
It’s a photoshop of something that doesn’t yet exist…
Which is pretty sad… even in photoshop, they made a defective product… or at least looks like it would be defective.
Not when the company has no Auto or tech skills
Seems too good to be true.
Yeah, realistically, its going to have 1) a 100 mile range, 2) turn out to actually be a low speed NEV, or 3) wildly overshoot the price target by like 5 figures, or some combination of those
Amazon already buys lots of Rivian trucks. just buy the skateboard and put a different body on top. or use the upcoming R2 base.
Could have just had the existing Hyundai Porter II EV…four years ago.
https://www.chosun.com/english/industry-en/2019/12/12/TSYGDIUB4NXDCRI5S3IZYNVMB4/
This is nonsense. $50k base trim trucks can all be optioned to the point the price doubles, and those option packages are where a huge part of truck makers profits are located. The idea that you could make a $25k truck meaningfully profitable by selling cup holders and t-shirts is silly.
As much as I wold live this to come to life, nothing they are saying sounds grounded in reality.
I somewhat expect this (if it becomes a reality, anyway) to work a lot like Uber and the like. They’ll just burn tons and tons of money for years.
That could for sure be a possibility, given the infinite pockets of Bezos. But I still don’t know what the end game is unless they are sure everyone is going to be a lot poorer very soon. Which, I guess, is a safe bet at this point.
As a side note, to illustrate the obscene wealth of Bezos. His personal wealth is greater than the market cap of GM, Ford, Stellantis, and Honda combined.
Think about it all of them starting a space race didn’t work. Need to make it affordable for the masses. Smart choice wait until Gates gets involved
Worked for Tesla
1. Megalomaniac Icon check
2. Bad idea would take losing billions check
3. More ego than brains check
4. Ignorant nerd fans check.
What is the stock price I’m in
Okay now it makes sense.
That was doable in the 2010s when interest rates were mostly zero (and therefore capital basically free), but is not so easy now.
Even Jeff Bezos is going to demand a return at some point.
Who cares about carrying a full sheet of plywood when you were born on the receiving end of the ugly stick.
If the women don’t find you handsome make them find you Handy
I think it’s neat!
Unfortunately, I worry about the reality for it.
There’s absolutely a home for a cheap, small, 2 door truck, but in most of these homes, this vehicle would have to compete against what these users already have, and make a good case for itself. Here is the perfect customer and what this truck would have to beat in some meaningful way:
Farmers: The UTV, such as the Polaris Ranger, John Deere Gator, Can Am: All of these have tow capacities approaching 3000 lbs and unmatched off highway ability. The only downside, not being street legal, is completely negated the minute a farmer slaps an orange triangle on the back and drives it down the road, completely unbothered by any law enforcement.
Factories, mills, companies: My local power plant, my local
Steel
Mill, and one of the coal mines briefly explored kei trucks as an option, but after getting headaches finding parts/employees capable of driving stick, they just bought half ton pick ups. As it turns out, being small and handy is great, but usability wins the day.
Suburban homeowner: See Ford Maverick
Local parts/service runners: They all have for the most part discovered that Transits and Promasters are perfect for the job.
Young unmarried car buyers needing a pickup: Sorry, but it’s going to be hard to find a foothold with these guys as long as there are still 1998-2004 Rangers, tacomas, and frontiers still drawing breath.
None of this accounts for the biggest hurdle: It’s all electric. Don’t get me wrong, I Love electric vehicles. But none of the above mentioned do. Nor will they consider it.
You make a good point. I don’t know if you can recreate the cheap simple truck era again. I’m sure it will sell but is it profitable long term?
I think you pretty much covered it. There’s already a lot of competition in the spaces it would occupy, though I would love for this to actually succeed. If they could get enough fleet buyers interested that could be a start, but I still don’t know how well that would translate to sales to the general public.
great points all around. something else the earlier cheap pickups had going for them was they were often the among the cheapest wheels you could buy (setting aside any truck abilities). just per google (so grain of salt and all that), 1993 MSRP for cheapest S10 was $9547 and cheapest Cavalier was $10567. [one model S10 was listed at $85xx, but that seems like it may have been a fleet thing or something]. So there were definitely buyers who picked up small trucks just because they were cheap. Several of my high school teachers and even a few friends went this route in the 90s…unless they needed a backseat, the guys would rather have a truck than a Cavalier.
edit to add: the maverick kind of hits on this in today’s market. but to really be successful like small trucks in the past, you’d almost need to be $20K (or a bit less) not $25K to get some of those cheap wheels people in the fold.
It could work for urban deliveries of an item too large to fit in a Transit, but light enough to not challenge the chassis.
Maybe a large window contractor?
I know the delivery business, believe me. Most large, unwieldy things get delivered in van: Security, ease of loading/unloading, overall operating cost, and adaptability to cargo are all better in a van.
I hear there’s a factory somewhere outside of Youngstown looking for a new tenet.
Another vaperware cheap EV. Yawn.
Looks like I could rent one of these at Home Depot