When it comes to affordable electric vehicles, Chinese automaker BYD has cornered the global market. In 2024, it more than doubled the deliveries of Tesla, capturing nearly 18 percent of the market share, making it the best electric vehicle (EV) seller in the world.
One of the key reasons for their success is the value they’ve provided the average consumer in a world where most EVs are unaffordable. This is not only true in China, but in Europe and Australia as well, causing losses to their countries’ auto industries. In fact, German-based Audi has recently closed its EV plant and $15 Billion Swedish EV battery startup Northvolt declared bankruptcy on March 12. The latter sent shockwaves across the globe and left industry experts and insiders baffled on how to compete with China.
Due to the high tariffs and regulations, BYD has fortunately been unable to invade the U.S. market. But Slate Auto, a U.S.-based startup backed by Amazon billionaire Jeff Bezos, is not waiting around for that to happen.
According to multiple news outlets, the company’s first offering will be the Slate EV Pickup Truck — a minimalist, small-bed, customizable pickup truck that will only be approximately $20,000 after federal tax incentives. The savings come from the lack of power windows, digital controls, and touchscreen. What’s more, it only comes in one color, which, for an additional fee, customers can wrap.
The value for this initial offering is two-fold: its performance and the potential customization. Slate claims that it has a range of 150 miles or 240 miles with a battery-pack along with a 1,400-pound payload and a 1,000-pound towing capacity. Moving beyond the powertrain, the custom modifications are numerous: customers can add accessories, body wraps, wheel wraps, and can even turn it into an SUV with a kit.
This entry into the U.S. and global market is a promising development to push back against the Chinese, who have precisely filled the need for a consumer EV while the rest have failed. As BYD has shown, demand for EVs do increase when the median of consumers can buy one and receive a surprising amount of value.
Slate’s truck should have similar success and, perhaps, provide even more value than BYD with its plethora of options and customizations which will also appeal to a wide variety of customers. We here at So Cal Classic Car Storage are interested in using it as a business truck, we’ve made the $50 reservation on Slate Auto’s website.
Of course, only time will tell and, if we do buy one, we will review it. But it’s about time somebody competed against China and I’m glad Bezos and Slate Auto are doing it.