Custom EV at $20K to hit US roads by 2026

Slate Auto, a Michigan-based startup, unveiled a customizable, made-in-America EV that could cost just $20,000 if the $7,500 federal tax credit for electric vehicles remains intact. It is slated to hit the roads in 2026.

The Slate EV boasts a bare-minimum model that the company says has helped keep the price tag down. The EV pickup truck is a two-door, two-seater with crank windows and no infotainment.

However, buyers have over 100 optional add-ons, including radio, speakers, heated seats, and battery upgrades from 150 to 240 miles, among several others. Customers can also convert it into an SUV.

Slate also offers custom wraps, which saves paint-shop costs.

At a time when new EVs cost around $55,500 and per month payments can reach $900, CEO Chris Barman says Slate’s Truck will average $300–$400 in monthly payments. This could make it the most affordable EV in America.

The EV startup, backed by former Amazon and Google CEOs Jeff Bezos and Eric Schmidt, has raised at least $111 million and employs over 400 people.