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Slate Says Every Truck Will Be Profitable, Probably Because It Makes You Pay For Things Every Other Car Already Has
Jalopnik • • business
Key Points:
- Slate CEO Peter Faricy claims that every electric pickup the company sells will be profitable, with each truck gross margin positive despite the recent price increase.
- The company raised the starting price of its budget electric pickup to $24,950 after the $7,500 federal EV tax rebate expired, disappointing some customers who had anticipated a lower price.
- Unlike competitors, Slate sells many basic features like speakers and door pockets as optional add-ons, contributing to its profitability but resulting in a more barebones vehicle experience.
- Slate aims to reach breakeven at 80,000 vehicles sold, a target well within reach given its current reservations and planned production capacity at its Indiana plant.
- The company expects many customers to upgrade their trucks to SUV variants, increasing average transaction prices and potentially accelerating Slate's path to profitability ahead of other EV startups like Rivian and Lucid.
