I will admit to being skeptical about Slate Auto’s affordable EVs. We’ve heard the “cheap EV is coming” story so many times without an actual result that it feels like just another thing that happens in the electric vehicle world. That said, more than 100,000 people disagree with me, as the company has accumulated six figures of refundable reservations since its reveal a couple of weeks ago.
The upstart automaker reached the 100,000 mark last weekend, as buyers line up for one of its sub-$20,000 (after tax credits) vehicles. Chief commercial officer Jeremy Snyder said, “We are truly humbled by America’s response to Slate’s brand launch and the launch of our truck. We are excited for what the future holds.”
Hopeful buyers must pay a $50 refundable fee to secure a reservation, but while the company’s numbers are impressive, Slate is not the first new automaker to see promising early interest before fading into bankruptcy or obscurity. Fisker recorded more than 60,000 reservations for the Ocean before its demise, and Lordstown Motors caught SEC charges for inflating its preorder numbers.
Whatever the end result for Slate Autos, its EVs look promising. My concerns about the brand come from the vehicle’s configuration, which starts as a super-basic shell before buyers add their own touches. Once it’s reasonably equipped, the Slate EV will likely far exceed its promised base price, but in today’s world of $50,000-plus vehicles, they will still feel like a bargain.
[Images: Slate Auto]
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