Slate Auto’s long-promised affordable electric pickup truck may no longer meet its headline target of starting below $20,000, after the removal of the federal EV tax credit significantly altered the vehicle’s pricing outlook. Industry estimates suggest the model could now carry a starting price closer to $27,500 in the United States, substantially increasing potential lease costs.
According to an analysis by Cars Direct, the estimated price would translate to around $468 per month over a standard 36-month lease with no money down. Once acquisition fees and the first month’s payment are added, the effective monthly cost could approach $500 before taxes and fees. The publication noted that, had the federal EV credit remained in place, the equivalent lease payment could have been as low as $341 per month — a difference of roughly $127.
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Cars Direct’s estimate assumes a money factor of 0.00292, or about 7% APR, and a residual value of 55%. Slate Auto has yet to confirm official pricing or financing details for the truck.
The increased costs may make the truck less competitive against established rivals in the compact pickup segment. Ford’s 2025 Maverick XLT AWD, for instance, can be leased for as little as $289 per month over 36 months with $3,709 due at signing, according to current dealer offers. Hybrid versions of the Maverick generally lease for about $430 per month, though with higher upfront payments, bringing effective monthly costs above $500.
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If Slate Auto aims to position its entry-level electric pickup as a viable alternative, analysts say the company will need to emphasize total cost of ownership and efficiency rather than sticker price alone. The loss of the tax credit could pose a significant hurdle for the startup’s plans to market one of the most affordable EVs in the U.S. market.
Photo Gallery: Slate Auto Electric Pickup
