- The Slate truck is expected to start in the mid $20,000 range.
- The brand’s under $20,000 starting price is lost because of the end of the federal tax credit, but state-level tax credits still exist for a lot of reservation holders.
- Slate says they’re seeing a sizable amount of reservation holders in places that have state-level EV incentives.
Lately, it’s been hell on wheels for any automaker trying to manufacture a car of any type, let alone an electric car. Whether it’s the on-again, off-again tariffs or the destruction of the EV tax credit, it’s not an easy time for car makers. Especially if you’re a startup.
Slate made headlines with its surprise launch in April, complete with a stripped-down, back-to-basics electric truck; the antithesis of hyper-connected, pricy EVs that every manufacturer seems to want to sell. The truck’s “below $20,000” pricetag made headlines.
Photo by: Slate
Welp, that only lasted a few weeks, because the price appeared to be contingent on the $7,500 tax credit, which ends in less than 30 days. Now, the advertised price has marched upward to a somewhat vague “mid $20,000” on Slate’s website. Still, Slate’s COO Jeremy Snyder insists that Slate’s actually still going to be ok, despite it all.
Why? Because of state incentives. I got a chance to talk to Snyder while at a preview of Slate’s forthcoming factory in Warsaw, Indiana.
“When the federal tax credit went away, you know, our prices never changed,” Snyder said, insisting that the initial price of the truck pre-tax credit hasn’t changed since the axing of the federal EV tax credit. “What [Slate] hasn’t really talked about is how many state credits are available.”
Although state-level incentives aren’t as lucrative as years past, there are more than a few available for new vehicles. Oregon’s Charge Ahead program may be the most lucrative, matching the $7,500 federal tax credit for low-income buyers. If Slate’s truck starts at the predicted $25,000, then yes, Oregon’s fullest package of incentives would place a Slate truck at a stunningly low $17,500, before any taxes or delivery fees. That is, if the state of Oregon doesn’t run out of money; Oregon’s smaller $2,500 credit will run out of funds on September 8, 2025, and won’t be able to pay out until 2026.
Photo by: Kevin Williams/InsideEVs
Still, Oregon isn’t the only state with its hand in the EV incentive jar. There are currently 17 states that still have EV incentive programs. New York’s Drive Clean program can give up to $2,000 off at the point of sale. Illinois offers up to $4,000. Also, California Governor Gavin Newsom has been adamant that he wants to restart the EV tax credit program for California since the Federal tax credit is ending. California is still figuring out how exactly it will work, but there’s still a lot of hope on the horizon.
I asked Slate just how many orders are in states with state-level tax credits versus those without, and they declined to say just how many, but did say there was healthy demand in all 50 states, including Puerto Rico.
“There are tons of people who already have reservations, who are still going to get a truck that’s in the teens because of state credits and rebates,” Snyder said. One way or another, we’ll see if he’s right.
Contact the author: Kevin.Williams@insideevs.com
