Slate Auto’s electric pickup, priced under $20,000, faces uncertainty as the $7,500 federal tax break is set to expire on Sept. 30. The startup has raised $700 million in funding but must contend with a tough U.S. market where EV sales growth has slowed. Slate aims to offer an affordable option in a market with high average vehicle prices above $45,000. The company plans to produce its trucks at a catalog factory in Indiana, focusing on cost containment with a minimalist design. Despite challenges, Slate’s pickup may appeal to price-conscious consumers amid rising vehicle costs. Traditional automakers and startups are looking at smaller electric pickups as an alternative to larger models. Ford and Stellantis have expressed interest in Slate’s customer-focused approach and affordability.

Read more at Yahoo Finance: This Bezos-backed EV startup is betting you’ll pay extra for a stereo in your petite pickup