Is Slate Auto’s new electric truck the EV Americans need?

The US transportation sector is the largest source of greenhouse-gas emissions, according to climate data. Despite this, EVs represent less than 10% of new-vehicle sales in the country. Slate Auto's latest offering, an electric truck, seems to buck common conventions in selling vehicles in the US market. The company prioritizes simplicity, even to the extent of using hand cranks for windows—a feature reminiscent of the 20th century.

Unlike other EV manufacturers, Slate's truck has a small lithium iron phosphate battery with a capacity of 65 kilowatt-hours, offering a quoted range of just 205 miles. For comparison, the basic Tesla Model 3 can travel over 320 miles on a single charge. By choosing to limit range and eschew frills, Slate can sell the base model for under $25,000, making it significantly more affordable than the average new vehicle in the US, which costs around $50,000.

While this approach may seem counterintuitive in a market that increasingly values size and features, it could be a viable solution. The current status quo hasn't been successful for EV manufacturers. The Ford F-150 Lightning, initially seen as a promising electric truck, was discontinued after just four years. This was due to factors like tax credit reductions and price increases.

A large battery was necessary to achieve a long range, which drove up costs. However, the importance of range might be overestimated. The average daily mileage for American drivers is under 35 miles, and 90% of trips are 20 miles or less. Studies show that most EV users utilize less than 20% of their vehicle's range in a typical day.

With fuel costs and other expenses rising, many Americans are facing an affordability crisis. Nearly half the population struggles to afford basic necessities. An inexpensive vehicle that eliminates the need to visit gas stations could be particularly appealing. Slate Auto is set to begin deliveries in late 2026, starting with preorders.

The company already has thousands of preorders, and investors, including Jeff Bezos, have invested nearly $1.4 billion in the company. Ford is also planning to enter this market with its own small electric truck, expected to hit the market in 2027 at around $30,000. Whether drivers will embrace a small, short-range vehicle for its lower price remains to be seen. However, based on current trends, it seems likely that they will.