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In an interview this month with Sherwood News, Slate Motors CEO Chris Barman was asked why the company has focused on a bare bones, entry level vehicle when most new trucks feature glamour and glitz designed to impress — or intimidate — others. She said, “There’s a large population out there. Some of them want AI, some of them want autonomous, but there’s still a vast majority of people that want and need to drive themselves.”

Barman is an electrical engineer by training who previously worked for FiatChrysler for two decades, where she was in charge of running vehicle line programs and led the Android Automotive integration team. She also collaborating with Waymo to integrate its self driving software into Chrysler Pacifica minivans.

In 2023, Slate raised $100 million in a Series A funding round. One of the investors was Slauson & Co, a Los Angeles based venture capital firm. In an interview with TechCrunch, co-founder Austin Clements said Barman “has great vision. She has a great reputation within the company she’s worked for before. She’s no frills, not about the hype. She’s really about delivering.”

Barman told Sherwood News the US auto industry has stopped providing affordable vehicles. Today, she said, “It’s extremely difficult for everyday Americans to be able to afford a new vehicle. Overall, 55 million vehicles are roughly transacted every year: 15 million new, 40 million used. New vehicles are about $50,000, or a $900 monthly payment. A used vehicle is about $27,000 or… about a $500 monthly payment.

“It can be a stretch for people to even be able to afford that, because studies have shown if an individual or a household makes $100,000 a year, they should put about $400 toward a monthly payment. So even getting into that average used vehicle is a bit of a stretch, and most of Americans don’t make $100,000. It’s a massive population of individuals.”

“What we want to do is go into a space where we’re able to provide a vehicle that meets all the latest safety standards — NCAP five-star and IIHS Top Safety Pick — and give an industry leading warranty so that individuals say, ‘Hey, I can either buy a high mileage used car that’s out of warranty, that could break down, or I can get into a new car that meets the latest safety standards, comes with a warranty, and it’s been designed as a platform that’s open source where I can change it over time. I can turn it into what I would want it to be through personalization.’”

A $25,000 Electric Truck

Initially, Slate claimed its electric truck would cost consumers less than $20,000 — after taking into account the federal $7500 tax credit that will now expire on September 30, 2025. Some people have been snickering up their sleeves about how Slate’s initial marketing hook has now been blown out of the water. Timing is everything and to some it seems like Slate picked the wrong time to build a low cost electric truck.

But Barman doesn’t seem to be concerned by the shenanigans on the banks of the Potomac. “We looked at it and said, what are only the essentials that need to go in a vehicle? Some things are pretty basic. You need a steering wheel and you need wheels and tires. But then we started to get into what are the things that maybe aren’t essential, but that people want in the vehicle even if it’s an affordable vehicle. Air-conditioning is one of those. One that didn’t make it in but is available as an accessory is power windows. We put in manual windows,” she told Sherwood News.

An old fashioned key is the cheapest way to unlock and start a vehicle, but for many women, being able to unlock the doors remotely and have a light come on to illuminate the interior at night is of vital concern. “We didn’t want people to think, ‘Well, if it’s affordable, was it not secure?’” Barman said.

Touchscreens and infotainment systems are a big deal for many new car buyers, but Slate is reconsidering that aspect of car ownership. “We looked at infotainment and said, people’s navigation and their streaming audio and everything they need comes from their phone. Design a way where they can bring their phone or a tablet or whatever they would like into the vehicle to provide that information for them.”

“The way we thought about it is twofold — most infotainment systems are very expensive, they’re very intense to develop, and honestly, most people don’t like them and don’t use them. We want this vehicle to live on with time.  As the consumer electronics life cycle changes, you can just buy a different tablet when you want and mount it.” That is actually a very forward thinking attitude, one that could resonate with lots of potential customers.

Simplerer Is Betterer

Barman and her team have worked hard to keep their new truck simple. In fact, they fully expect owners will be able to do most repairs themselves — even warranty repairs. “Through simplification, we have roughly a little over 600 parts, where most vehicles today have 2,500 or more,” she said.

“It brings our costs down. We don’t have to have as many engineers designing parts. We don’t have to have as many employees putting parts on the vehicle. We don’t have to have as many supplier quality engineers. We don’t have to have as many finance people, accounts payable, and all of that, which gives us a lower overhead and then allows us to operate in a more efficient manner. So we will be profitable on the vehicle, and we will make additional profits through the accessorization.”

Accessorization is really the key to profitability. Owners can choose from a catalog full of custom bits from exterior wraps to sound systems to items that convert the truck into an SUV. Many of those accessories are designed so owners can install them themselves.

When it comes to the fear of charging, Slate handles that issue deftly on its website. “If you can charge your phone, you can charge your car,” it says. I met friends for lunch yesterday and got talking about my Chevy Bolt. They were astounded that 95% of the time, it gets plugged into a standard 120 V wall outlet. They never knew that, and that simple misunderstanding has kept them from considering an electric car, which would be perfect for their needs.

Five Demographics

Asked about who the customers will be for the Slate truck, Barman said “What we’re seeing is a range of demographics, which is really interesting to us.

• Some of it is individuals who are those kind of everyday Americans, for whom it’s just an affordable vehicle and a lot of utility and value for the money.
• The other thing we’re seeing is a lot of young professionals — individuals who are either just finished trade school or are just out of college. They’re looking for value for the money, and what they love is the fact that it’s an EV and they love the customization.
• We see it going into households as an additional vehicle for potentially a newly licensed driver. Parents like the fact that there are only two passengers, it doesn’t have an infotainment for distraction, it has really high safety standards, and it’s affordable.
• One that’s really interesting to me that we’re seeing is what we’ve started referring to as “contemporary seniors.” They’re individuals who are semiretired or retired and are interested in an electric vehicle, but have been intimidated by all the other technology that has been in an EV. They just want a simpler form of driving.
• And then the fifth type that we see is a lot of people who are just auto enthusiasts. They want to just be able to trick it out.

Durability & Choice

Barman says Slate is chasing a different market than other automakers. She sees the Slate truck as more of an alternative to buying a used car. “I think we’re going to see a lot of people that may have had the opportunity to consider only a used car, and it’s across a wide spectrum. It resonates for different reasons for people: what their lifestyle is, and value is a big part of it for most of the people.”

“A lot of them are really excited about the personalization of it. Not only can you do it once, but you can do it again and again and again over time. And it can be not just for them when they buy it. For instance, a dad gets it and it’s a way to get to work. Then his daughter turns 16 and she wants it, but doesn’t necessarily want to drive dad’s car. Well, for $500 you can get a new wrap kit and put it in a completely different color and buy a couple other accessories, and it becomes her car.”

No other car company is thinking in those terms. Does that mean Slate is bound to be a success? No, it does not. There are a lot of factors in flux today because of the chaotic policies regarding tariffs and trade emanating from Washington. But the factors that may lead to price increases for Slate should apply equally to other manufacturers as well, keeping the price differential between them roughly the same.

As the cars on the road in America start to look more like the relics we see in Cuba, the appeal of a relatively affordable new car may get stronger, rather than weaker. When it comes to timing, Slate Motors may have the last laugh.