There is a new player in the electric vehicle market—Slate Auto, an EV startup from Michigan backed by Amazon founder Jeff Bezos. In a market space of giants such as Tesla and Rivian, Slate intends to find its space in the market with a radically customizable vehicle nicknamed the “Blank Slate”. Starting at $25,000 before incentives and being built on a modular framework that lets it morph from a pickup into an SUV or hatchback, Slate may rewrite the small EV playbook.
The Slate’s approach towards car buying is very interesting. Instead of presenting fixed models with limited choices, Slate has a starting point, a base version: a two-seat pickup designed by a minimalist called the “Blank Slate”. From there, customers can customize their vehicle with a variety of accessories: from beefed-up bumpers and infotainment systems to rear seating, converting it from a four to a five-seater SUV.
The company has trademarked the statement, “We Built It. ”You Make It,” signaling its mission to let customers design their perfect rides.
Unique Marketing Campaign
Before its official launch event on April 24 at Long Beach Airport, Slate arranged a one-of-a-kind guerrilla marketing strategy. Several prototype versions of its truck have materialized in the last few weeks on California roads. They were all wrapped in the branding of made-up companies, such as the “Rockabye Rides” van spotted in Venice Beach – the automotive communities and Reddit crowds took note, too.
All variations create a different silhouette: one as a pickup, another as an SUV, and finally one that looks like a compact hatchback. These sightings have created a buzz about the vehicle’s “chameleon” ability to adapt and have left the audience wondering what, exactly, it is that Slate will be unveiling.
Investor Demos Straight Out of a Sci-Fi Movie
Slate Auto’s innovative mind far surpasses its vehicle designs in its investor pitches. However, according to sources close to the company, Slate’s leadership employed a savvy presentation mechanism in its Series B funding round. Prospect investors were introduced to the basic truck model and then led into another room while an anonymous crew customized the vehicle. When they came back, investors were surprised to find the truck transformed – this drove the idea of a truly modular vehicle home.
This theatrical approach proved successful. Slate raised more than $100 million and picked up star investors like Guggenheim Partners CEO Mark Walter, who is today on the company’s board.
With all the public sightings and more than a bit of interest from large investor sources, Slate Auto managed to keep many things quiet. The inside of the vehicle is unseen, and details on performance, battery mileage, and technology are still under wraps. Auto journalist David Tracy, one of the few who got a close look, said he is under a strict NDA, but teased the uniqueness of the vehicle saying, “It is unlike any new vehicle I’ve ever seen – not just in my decade as a car journalist, but in my entire lifetime.”
Conclusion
With its low starting price, radical customization opportunities, and the support from some of the world’s most powerful businessmen, Slate Auto is taking its first steps on the EV market with much momentum. Although the general public is yet to receive key details, the early clues indicate that Slate might win the imagination of those consumers hungry for personalization and value for their money.
