Michigan Gives Slate Auto $5 Million To Build Its $25K EV Truck

The State of Michigan has approved up to $5 million in taxpayer-funded incentives for Slate Auto, a Jeff Bezos-backed electric vehicle startup, to expand its Troy headquarters and ramp up production of its $25,000 electric pickup truck. The funding comes as EV demand in the U.S. has cooled and federal tax credits have disappeared, forcing many startups to reconsider their business models. Slate’s truck stands out for its intentionally basic design, targeting buyers who prioritize affordability over luxury features. The compact two-seat model lacks a large touchscreen, instead offering a dedicated space for a smartphone or tablet. It can later be converted into a four-seat SUV configuration, and its rear-mounted electric motor produces 201 horsepower. The standard battery pack delivers about 150 miles of range, while an optional larger battery extends it to roughly 240 miles. Despite being a new company with no production vehicles yet, Slate claims over 150,000 reservations for the truck, each requiring a $50 deposit. The company believes its low-cost approach could fill a gap in the market, where electric trucks have largely become expensive luxury products. Michigan officials approved the incentive package on May 19, requiring Slate to create nearly 400 new jobs over five years, with minimum wages of $43 per hour. Slate also plans to invest $10.4 million in expanding its Troy headquarters, with state funding partially reimbursing construction, equipment, and workforce training costs. The startup currently employs about 325 people in Michigan, many of whom have experience in legacy automakers and suppliers. The company aims to begin customer deliveries later this year, positioning itself as a potential success story in a challenging EV market.