Slate Auto is only a few months away from what could become the most consequential moment in its brief existence. It will soon tell the world exactly how much its trucklet will cost. We already know it is targeting the “mid-$20,000 range,” but whether or not that’ll be cheap enough for widespread adoption is an open question.

This week, the startup teased on social media that final pricing for its two-door EV will arrive in late June. In the video, CEO Chris Barman reiterates that the base “Blank Slate” model is still expected to land in the mid-$20,000 bracket.

More: Slate Still Doesn’t Know What Its EV Truck Will Actually Cost

“We’ve been working tirelessly to get the lowest price possible,” Barman said. “While we’re not pencils down just yet, we’re wrapping negotiations on final parts with suppliers. We’re on track to share new info on the price in June. We think it’ll be worth the wait.”

Obviously, the mid-$20,000 range is a break from Slate’s initial promise of a truck that starts under $20,000. That said, its initial promise relied heavily on the now-defunct $7,500 federal EV tax credit. Without it, breaking that price barrier was always going to be a stretch given material costs and industry margins. The updated estimate sounds a lot more realistic, but also far less revolutionary.

The Reality Ahead

Let’s say that the trucklet launches with relatively approachable MSRP. Slate will still need to nail the details. Execution at the manufacturing, service support, parts supply, and consumer education level will be paramount. Other startup automakers have failed on fewer issues.

Then, there’s the competition. We’ve pointed out just how unattractive a $25,000-$28,000 Slate might appear next to something like the Ford Maverick. That isn’t the only compact truck in the market and the Blue Oval brand is already working on an electric version of its own, which it promises to start from $30,000.

And while we’re still light on specifics, it is hard to imagine Ford delivering something as unapologetically stripped back as the Slate, which famously does without even basic features like integrated speakers and power windows.

That all said, a small, affordable, modular EV with tons of personality might just manage to escape the fray. Production is supposed to begin by the end of the year in Indiana.

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Amid all the noise and high-concept EV launches, one company is quietly betting that simple might be the next big idea. Slate Auto has its skeptics, including Ram boss Tim Kuniskis, but tens of thousands of people have placed reservations for its back-to-basics electric vehicle, suggesting a real appetite for something more grounded and affordable.

Production of the Slate is scheduled to start at a converted factory in Warsaw, Indiana, before the end of this year, but well before this happens, the carmaker has brought one example to Jay Leno’s Garage, eager to show what makes it special.

Read: Slate Still Doesn’t Know What Its EV Truck Will Actually Cost

Joining the bright red and white Slate with Leno was the head of design at Slate, Tisha Johnson, and the company’s chief commercial officer, Jeremy Snyder.

According to Slate, its philosophy is to build an affordable vehicle, which is desperately needed now that the average new car in the US costs almost $50,000. During the interview with Leno, Snyder says the Slate will start in the “mid-$20s,” although the firm still doesn’t appear to have nailed down a final price.

When the EV was announced, it had a promised starting price of under $20,000, thanks largely to the $7,500 federal EV tax credit. Now that the tax credit has been axed, the price has increased.

Personalization is also a key part of what makes Slate interesting. Many exterior parts have exposed fasteners, making it easy to remove and customize panels. Buyers who prefer an SUV body style can purchase a conversion kit, either to install themselves or through a Slate service provider. This places the owner at the center of the experience, and also helps cut costs.

Slate is also placing right-to-repair at the forefront of the ownership experience. Owners won’t need to visit Slate service centers to have their vehicles repaired, whether under warranty or not, and can shop around and take them to their preferred mechanic. If desired, owners can easily repair the Slate truck themselves.

Breaking into the car market with an all-new vehicle is one of the hardest plays in the industry, even more so for a company with no legacy network whatsoever or any prior production history. But Slate Auto is pressing ahead with its plan to launch an affordable, all-electric pickup truck.

While key details about the production version, including pricing, are still being ironed out, the company has shared progress from the plant where it’ll be built.

Read: Slate May Be About To Price Itself Out Of The EV Market

Rather than building the truck overseas, perhaps somewhere where labor costs are lower, Slate Auto is manufacturing it right here in the US. It’s being brought to life at a plant in Warsaw, Indiana, which for decades served as a major printing facility, employing up to 500 people.

A Factory Transformed

As you can imagine, repurposing the site into an electric vehicle facility involves some extensive changes. Among them, 630,000 square feet of anti-slip flooring is being laid to accommodate the factory’s new layout and safety protocols.

Automation is already underway, with robotic laser welders and large-format 3D laser scanners arriving on site. According to Slate, production of its EV pickup is still scheduled to begin before the end of the year.

What Happens Without the Tax Credit?

The truck’s ultimate reception will no doubt hinge on its price. Originally, Slate Auto said it would start below $20,000 when factoring in the now-defunct $7,500 federal EV tax credit. But with that credit now scrapped under the Trump administration, the EV won’t be as cheap as originally promised.

A few months later, the company quietly updated its website to say the “Blank Slate is expected to be priced in the mid-twenties.” Although no further details were provided, the update was widely thought to reflect the anticipated changes to the federal EV tax credit at the time.

When asked about the change, Slate Auto CEO Chris Barman brushed off the concern, saying “it doesn’t matter,” and insisting the truck remains affordable. She didn’t elaborate further.

Price Still in Flux

In a follow-up conversation with InsideEVs, Barman added that the company is still finalizing the pricing structure.

“We’re still working really closely with our suppliers to see what opportunities we have to continue to bring costs down, to see what we can do to pass along to the customer before we announce final pricing,” she said.

Last year, the company had

Also: Slate’s EV Truck Is So Basic Even The Repair Network Is DIY

Slate’s CEO also mentioned that pricing will be a central part of the discussions at a meeting with the company’s suppliers scheduled for next week.

“A big part of that is going to be talking about, are there more opportunities for cost reduction? And the way we’re looking at that is we want to pass it on to the customer,” she said. 

Still, with a production start date fast approaching, the final figure won’t stay a mystery for long.

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