Slate Auto plans to launch an affordable two-passenger electric pickup truck

Slate Auto has an ambitious goal of building an affordable two-passenger electric pickup truck that will cost about $25,000, according to people familiar with the matter. The model will draw inspiration from the Ford Model T or Volkswagen Beetle. To achieve this goal, Slate Auto has accumulated a considerable financial reserve and quietly completed at least $111 million in Series A financing in 2023. Slate Auto has informed employees that the company completed its Series B financing at the end of last year. The company plans to start producing vehicles at a manufacturing plant somewhere near Indianapolis, Indiana, possibly as early as the end of 2026.