Slate Auto burst onto the scene a year ago as they introduced their affordable electric truck on April 24, 2025. It generated a ton of interest thanks to a starting price of under $20,000 after federal incentives.

Fast forward a year and the company hasn’t said much since then. Sure, they post flashy videos on social media, but there’s a concerning lack of substance for a vehicle that’s supposed to be launched in the coming months.

More: Slate’s $28K EV Truck Is So Basic Even The Repair Network Is DIY

The last update came on April 16, when Slate revealed they received $650 million in funding and have secured over 160,000 reservations. That’s a lot, but you can reserve the vehicle for $50 and the fee is fully refundable. Furthermore, as we’ve seen with the Tesla Cybertruck, a huge number of reservations doesn’t always pan out to be a ton of orders – especially when the price jumps significantly.

Despite a lack of meaningful updates, the company has previously said the truck will have a 52.7 kWh battery that feeds a rear-mounted motor producing 201 hp (150 kW / 204 PS) and 195 lb-ft (264 Nm) of torque. That should enable the model to accelerate from 0-60 mph (0-96 km/h) in eight seconds, before hitting a top speed of 90 mph (145 km/h).

This is said to give the truck a range of 150 miles (241 km), but the company has mentioned an optional 84.3 kWh battery pack that increases the distance to 240 miles (386 km). When the battery is low, a 120 kW DC fast charger can take it from 20-80% in less than 30 minutes.

While we know a number of specifications, additional details are hazy. However, Slate has said the model will have 17-inch steel wheels, crank windows, and a universal phone mount as your smartphone will function as the infotainment system.

The company has also touted a handful of driver assistance systems such as active emergency braking, forward collision warning, and up to 8 airbags. More notably, the truck will be offered with a flat-pack accessory kit that transforms the vehicle into an SUV complete with a roll cage and a rear seat. The company has also promised over 100 accessories and an assortment of wraps.

While the silence is becoming deafening, Slate has promised to reveal more details in June. That’s when final pricing will be announced and when customers can begin pre-ordering the truck.

With the federal tax credit eliminated, Slate now says the model is expected to begin in the “mid-$20,000’s.” That’s significantly more than the original estimate of under $20,000 and it’s roughly on par with the $28,145 Ford Maverick. More worryingly for Slate, the Blue Oval is also working on a $30,000 electric truck, but they’ve been pretty tight-lipped about it themselves.

Slate Auto is becoming an example of what a small startup can do with vast amounts of cash. It’s navigated several trials and tribulations and market shifts that other, less well-funded EV startups simply couldn’t survive. Now, it’s handling another as it appoints a new CEO just months before launching its first product, a heavily promoted $25,000-$30,000 electric truck.

The company announced that Peter Faricy, a former Amazon executive, has taken over as Chief Executive Officer, Newsweek reported. He replaces longtime Chrysler veteran Chris Barman, who will remain at the company as President of Vehicles with a focus on engineering, manufacturing, and product development. Keep in mind that Amazon founder Jeff Bezos is an investor in Slate Auto.

Read: Slate Teases EV Truck Price As $20K Dream Collapses

The leadership shift comes as Slate prepares to switch from development mode to real-world sales. The startup says customers will soon be able to configure and order their vehicles, with reservations expected to convert into orders by the end of the year.

The Slate Auto pickup is stripped down and simplified to what some would call an extreme degree. For example, it doesn’t have an infotainment screen, it features crank windows, and customers are offered several options to add after initial purchase. The company said it has around 160,000 reservations and believes it can build 150,000 trucks annually at its Indiana manufacturing plant.

The CEO Shift

Slate is going to sell cars direct-to-consumer the same way Rivian, Tesla, and Lucid do. To that end, the shift to Faricy begins to make more sense. He previously worked at Ford before moving through roles at Borders and eventually Amazon, where he spent more than a decade helping build the company’s Marketplace platform into a global ecosystem for third-party sellers.

He later served as CEO of solar company SunPower from 2021 to 2024 and most recently worked with venture capital firm Bessemer Venture Partners.

According to Newsweek, Faricy will oversee the company’s commercial operations, digital strategy, finance, HR, legal, and IT divisions, while Barman focuses on building and delivering the vehicles. One thing is certain: an undertaking of this magnitude can only benefit from more hands on deck.