[DigitalToday reporter Jinju Hong] In the U.S. electric vehicle market, startup Slate Auto is building a presence with an ultra-low-cost electric pickup strategy. It drew attention after securing 150,000 reservations, led by a customizable design and a price point under $20,000 (about 29.8 million won).

On April 12 (local time), IT media outlet TechCrunch reported that Slate Auto has quickly built demand since its official debut in April 2025 and is expanding its business with a goal of starting production by the end of 2026. The company operated privately for three years before going public and has been preparing in Troy, Michigan, with funding support from Amazon founder Jeff Bezos and Los Angeles Dodgers owner Mark Walter.

The company’s first product is an electric pickup that puts a strong focus on customization. The starting price was presented at under $20,000 if it reflects a $7,500 federal EV tax credit. The base model has minimum specifications, including a 150-mile (about 241-km) range, manual windows, no main infotainment screen and an unpainted body. Instead, it broadened customization options to the point that buyers can change the number of seats and even the body type.

The company has actively promoted the concept ahead of launch. In April last year, it showcased concept vehicles on California streets that could be converted not only into a pickup but also into SUV or hatchback forms, highlighting a modular structure. The ability to flexibly change the vehicle’s form was highlighted as a differentiator.

It is also preparing for production. Slate Auto is reviewing a former printing plant in Warsaw, Indiana, as a production base, with a goal of mass production by the end of 2026. The plant was built in 1958 and had been vacant for about two years.

Initial market reaction has been positive. In May 2025, reservations based on a refundable $50 deposit topped 100,000, and in December that year the combined total for trucks and SUVs surpassed 150,000. It drew attention because interest continued even as U.S. EV growth slowed.

But tax benefits that were central to the price competitiveness emerged as a variable. In July 2025, the Donald Trump administration pushed to end the $7,500 federal EV tax credit, making it difficult to maintain a strategy of pricing below $20,000. The company removed the pricing phrase from its website before the bill was signed.

The company also reshuffled management. In March 2026, Slate Auto appointed former Amazon executive Peter Parish as chief executive officer, and Chris Barman, the previous CEO, moved to president of the vehicle division. The company is focusing on preparing for production and converting reservations into actual purchases.

Its business model is also expanding beyond vehicle sales. Slate Auto is planning a structure that grows both custom accessories and the aftermarket parts business. This is interpreted as a strategy to generate additional revenue after completed-vehicle sales.

Its investment base has also expanded. At least 16 investors participated in fundraising in 2023, and Bezos was among them. Early investors also participated in additional rounds to support the business expansion.

The industry sees Slate Auto’s success as hinging on three variables. Key points to watch are whether it can keep price competitiveness after the tax credit ends, convert reservations into actual sales, and meet its end-2026 mass production target as planned.