Slate Auto, a Jeff Bezos-backed EV startup that wants to launch a sub-$30,000 mini-truck, is absolutely rolling in money and reservations right now. Around 100,000 customers have already laid down reservations at $50 a pop, and the company has already raised $700 million in financing. In a statement, a spokesperson for the company says “America has shown that it wants what we’re making.” I’d have to agree with that sentiment.

Slate, which is targeting a late-2026 production time, says its biggest backers have been Bezos Expeditions, General Catalyst and TWG Global. General Catalyst has invested in brands like Airbnb and Snapchat, while TWG has holdings in entities like the LA Dodgers and Cadillac’s Formula 1 Team.

The company’s CEO, Chris Barman, is a former engineering vice president at Fiat Chrysler. Other higher-ups have plenty of industry experience in their own right, with folks from other EV truck startups like Rivian. Here’s a little refresher on what Slate is all about. From Automotive News:

Slate plans to sell one basic vehicle configuration and offer a long list of accessories designed for do-it-yourself installation. The options to personalize the base vehicle are extensive, down to colorful decals.

The base “Blank Slate” is a rear-wheel-drive pickup similar in size to the subcompact Subaru Crosstrek. It has plastic body panels with no paint, comes without a radio and offers an estimated 150 miles of range, Slate said.

As part of the reservation process, Slate collects $50 and asks whether the buyer is interested in an “SUV Kit,” which is essentially a camper shell with three passenger seats, seat belts, airbags and a roll bar.

Slate also asks customers about their interest in an optional battery with around 240 miles of range. Slate hasn’t given prices for the upgrades beyond the estimated starting cost for a DIY body wrap at about $500.

[…]

For infotainment, Slate said owners can use their smartphones or install a tablet. The phone mount is standard and the tablet mount is optional. The truck doesn’t come with any screens but does offer a phone app.

After federal EV incentives, the base pickup is supposed to cost under $20,000. If and when Republicans kill that offer, the truck is automatically going to cost $7,500 more. From there, a truck this basic becomes a bit of a value issue. You just aren’t getting very much for your money with a two-door basic truck with 150 miles of range when it costs nearly $30,000. 

I suppose we’ll just have to hold out hope that prices will really be as low as they’re saying and wait for more official announcements as a theoretical production start gets closer. I think 100,000 reservations speak for themselves when it comes to the excitement around this truck. Let’s hope Slate can deliver.