Slate, the startup electric carmaker with backing from Amazon founder Jeff Bezos, revealed on Monday it has secured over 100,000 reservations for its affordable pickup truck. The refundable reservations cost $50 each, meaning Slate has raised over $5 million in reservation fees alone.
"We are truly humbled by America’s response to Slate’s brand launch and the launch of our truck," Slate’s chief commercial officer, Jeremy Snyder, told TechCrunch. "We are excited for what the future holds."
The milestone comes just two weeks after Slate unveiled the budget pickup, which is expected to start at under $25,000 after federal incentives. It's a sign there's significant demand for a truly cheap, bare-bones utility vehicle—a segment that, currently, sits totally vacant in the US market.
Reservations don't always translate to sales, of course. Cadillac, for instance, said it had enough Celestiq reservations to fill the first 18 months of production. But once the big EV finally started rolling off the line, Cadillac revealed it had sold fewer than 25 examples.
As TechCrunch points out, Fisker sold just a few thousand Ocean SUVs before going bankrupt, despite claiming more than 60,000 reservations. Tesla was rumored to have more than two million Cybertruck reservations, but after about 50,000 sales, inventory of futuristic electric pickup is languishing in storage lots.
The Slate Truck seems like a more viable product, at least from what we've seen so far. Its low price and utilitarian nature mean there's a far larger buyer pool. Reservation holders won't have to wait terribly long, either. Slate says its factory in Indiana will have the capacity to produce up to 150,000 vehicles per year starting in 2027.
Production of Slate's pickup is expected to begin sometime next year. In the meantime, we suggest hitting up the truck's comprehensive configurator, which allows you to equip dozens of accessories and choose from three different body styles.
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