Slate surpasses 100,000 reservations for its low-cost electric pickup truck

Slate claimed two weeks ago that it can sell an electric pickup truck that can shape-shift into an SUV for less than $20,000. The pitch has convinced many people because the new company has announced reaching the milestone of 100,000 reservations.

Slate is backed by Amazon founder Jeff Bezos. The billionaire was an early investor in Rivian, another EV startup that manufactures electric trucks, SUVs, and vans.

The EV will be assembled in Indiana, and Slate plans to ramp up to 150,000 units per year before 2028. It is welcoming early adopters to build their custom pickups on its website.

The Slate EV is modular, and buyers can purchase an optional roof and extra seats to transform it into a two-door SUV. The conversion can be done as a DIY project or by professionals at a service partner. Slate said the truck will be available in late 2026 with a 150-mile driving range on the standard battery pack.

The reservation for the pickup truck costs $50 and is refundable. However, it is important to note that not every reservation will convert into a sale. Tesla reportedly accumulated two million Cybertruck pre-orders but is now running promotions to move the EV.

Potential buyers should also note that the final selling price might be higher. The low price tag is predicated on the continued existence of the federal EV tax credit, which faces an uncertain future.