Slate Auto has officially unveiled the starting price of its electric truck: a surprisingly affordable £18,673 ($24,950). This aggressive pricing puts it in direct competition with established brands like Chevrolet and Nissan. Crucially, the new model boasts an extended range of 205 miles, compared to its previous estimate of 150 miles.

While the truck comes with bare essentials—hand-crank windows, no infotainment system—and is initially offered in a single gray composite material, it can be customized by owners themselves. This approach could significantly cut costs and make electric trucks more appealing to budget-conscious consumers.

The launch marks an ambitious effort by Slate Auto, backed by billionaire Jeff Bezos, to emulate the success of early 20th-century car manufacturers like Ford. The company aims to create a mass-market vehicle similar to the Model T or Volkswagen Beetle, with plans for both two-seater pickup and five-seater SUV versions.

Despite challenges posed by policy changes under the second Trump administration, Slate Auto has managed to secure substantial funding. With $1.4 billion in investment from high-profile backers like Jeff Bezos and General Catalyst, the company is well-positioned to challenge traditional automakers.