Jeff Bezos-backed electric pickup startup Slate is getting ready to launch its new truck. The young company plans to announce the official price by the end of June, but it won’t be under $20,000 as originally planned. Now the company is adding some complexity to the mix by way of a new CEO.

Slate is replacing the former Chief Executive Christine Barman, an engineer who had held the job since 2022 and came from automotive leadership roles at Fiat Chrysler and supplier Eaton. The man taking her place is Peter Faricy, who comes from downsizing consultants McKinsey and was previously on the board of Blue Apron. He was also a vice president at Amazon Marketplace.

Former Amazon Marketplace Creator Turns To Cars

The move seems to come from concern that former CEO Barman might not be right for the final push to bring the car to market. Slate co-founder William Barker told Newsweek that “as we enter the next phase, with customers soon able to customize, order and buy their Slate, this is exactly the right moment for Peter [Faricy] to join. He is a pioneer of marketplace businesses and a highly strategic leader.”

With more than a decade at Amazon, Faricy is no stranger to online retail. With Slate planning to sell its models direct, like Tesla or Rivian, this could be an asset. That same decade means he’s no stranger to Jeff Bezos, the founder of Amazon who is also a major investor in the new car company. Faricy also worked under Jeff Wilke at Amazon. Wilke is another co-founder of Slate.

Slate told Newsweek that it currently has 160,000 reservation holders for the truck. That represents more than one year of production at the plant in Warsaw, Indiana, but as we’ve learned with other electric trucks, reservations don’t mean buyers. The Slate reservation is a $50 refundable deposit, which can lead to speculators and those with a fear of missing out getting on the list early with low risk.

Former CEO Still With Slate, Now President Of Vehicles

Barman will stay on at Slate in a new position. She will be President of Vehicles. The role includes overseeing the creation, testing, and manufacturing of Slate’s vehicles. Essentially, the “cars” part of the company, but with less prestige than before.

Slate’s official plan is to bring a basic electric truck to market in the mid-$20,000 range. The price isn’t official yet, but officials have hinted at “mid-20s” for a starting price.

To help keep costs down, Slate will only offer basic specifications. The only factory option will be the battery size, with a 52.7 or 84.3 kWh pack available. From there, everything will be an accessory. It doesn’t even come with a center screen or a stereo. Instead, there’s a mount for you to attach your phone.

Slate’s first vehicle is a regular cab pickup, but it won’t need to be regular for long. The truck can be reconfigured with optional parts to turn the rear into an SUV-like covered seating area instead of a bed. The truck is about the same length as a Nissan Leaf, but has a five-foot box and can carry a payload of up to 1,433 pounds.

Sources: Slate, Newsweek