Bezos-Backed Slate Auto Scraps $20K EV Pitch After Trump Kills Tax Credit

Slate Auto, the electric vehicle startup partially funded by Jeff Bezos, has abandoned its promise to deliver an all-electric pickup truck priced below $20,000. The decision follows the TRUMP administration's move to eliminate the $7,500 federal tax credit for electric vehicles, a key component of Slate's affordability strategy.

The startup had initially positioned its pickup as a disruptor in the EV market, leveraging the tax credit to achieve a sub-$20,000 price point. Without the incentive, the base price is expected to rise to approximately $27,500, significantly undermining its competitive edge. Slate's website quietly removed references to the sub-$20,000 pricing in early July.

Production of the vehicle is slated to begin in late 2026, leaving Slate with mounting pressure to deliver value in an increasingly crowded EV market. The loss of the tax credit not only impacts pricing but also raises questions about the company's ability to compete against established players.