Slate Auto's sub-$20,000 price tag for its electric pickup truck is impacted by the removal of federal tax credits under the Trump administration's spending package.
The startup aimed to offer an ultra-affordable EV truck by allowing customers to add features for an additional cost, akin to a life-sized Lego kit.
While Slate received significant interest with over 100,000 reservations, the removal of the tax credit poses a challenge in maintaining the competitive pricing without it.
As competitors like Tesla approach sub-$30,000 EVs, Slate will need to demonstrate the value proposition of its minimalist truck design without the federal incentive.