Tiny truck takeover
One story had our newsroom buzzing this past week: the surprisingly low price for the tiny electric truck backed by Jeff Bezos.
Slate Auto revealed its base-model, two-seater would cost $24,950, branding it the "most affordable truck in America." It is expected to hit US roads by the end of the year.
How exactly does Slate keep the price so low? By stripping away many of the features that drivers have come to expect. There's no touchscreen or built-in stereo. The windows operate with old-school manual cranks. Its estimated range tops out at just 205 miles.
The truck is tiny, too. At just 14.5 feet long, the vehicle is closer in size to a Toyota Camry than a Ford F-150. The driver's seat is low to the ground, more like a sedan than an SUV.
The price tag is undeniably attractive, especially at a time when new cars seem to only get more expensive. Fewer than 5% of new vehicles sold last year had starting prices under $25,000, according to car-shopping website Edmunds.
But it wasn't the price that divided our newsroom; it was the design.
A colleague called it "the ugliest thing I'd ever seen." Another said they'd happily buy one. Dan DeFrancesco, this newsletter's weekday writer, was also a fan: "I know this country was built on excess. (And God knows I love an all-you-can-eat sushi spot.) But less is more with pick-up trucks. Unless you have a professional need for it, owning anything bigger than a Ford F-150 just makes you a hardo."
EV demand has cooled in recent years, making it a tough time for Slate to come to market. Still, one of its main selling points is its level of customization.
The company says it will offer more than 200 accessories and add-ons, including vehicle wraps, seat covers, roof racks, light covers, a stereo, and interior tech. BI's Ben Shimkus offered a detailed overview of all the add-ons and their costs.
My take: At first glance, I thought the truck was ugly. But after playing around on the website with accessories, colors, and designs, the concept grew on me. There is also something quaint about an old-school design without all the bells and whistles found in today's vehicles.
Plus, you can't beat the price.
What do you think about Slate's new EV truck? Would you buy one? Drop me your thoughts at [email protected].
Steve Russolillo is the Chief News Editor of Business Insider. He directs and drives the newsroom's coverage of business, technology, markets, finance, and innovation, overseeing reporters and editors across the U.S., London, and Singapore.Before joining BI, he spent 17 years at The Wall Street Journal in various reporting and editing roles. He helped build and then led the Journal's breaking news desk—a team of reporters, editors, and photo journalists tasked with dominating the most important stories of the day across coverage areas. Before that, he was a foreign correspondent in Hong Kong, covering markets, finance, and cryptocurrencies for the Journal from 2017 to 2020. Steve earned an MBA in finance from Baruch College and worked at Goldman Sachs in the firm's asset management division. He went to undergrad at the University of Delaware.
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