CNBC Takes A First Look At Slate Auto’s $25,000 Modular Cars

Slate Auto held a launch event at its Los Angeles design center to reveal its starting vehicle price of $24,950 and open pre-orders to reservation holders. The company plans to begin shipping vehicles in Q4, with a full-year production capacity of 150,000 units at its Warsell, Indiana facility and a break-even point around 80,000 units.

The vehicle represents a radically minimalist design philosophy, featuring crank windows, a small driver information screen, and optional speakers. Customers can use their iPhones or iPads as the primary interface via a phone holder. The exterior uses lightweight plastic composite materials that are easily replaceable, though less durable than traditional metal or aluminum.

Slate Auto's business model diverges significantly from traditional automakers. The company claims it will be profitable on every vehicle sold by optimizing manufacturing processes and architecture. Beyond the initial purchase, the business generates revenue through multiple streams: vehicle sales, accessories, and customizable wraps that customers can change quarterly. A modular approach allows the same vehicle platform to function as either an SUV or a pickup truck, with the SUV variant accommodating five passengers despite its two-door configuration.

The company, founded about a year ago, has substantial backing from Amazon executives including Jeff Bezos, as well as Mark Walter, majority owner of the Los Angeles Dodgers. Leadership acknowledged that while a four-door variant could expand market appeal, they are launching with the two-door model.

Management set an ambitious goal to achieve free cash flow and EBITDA positivity by end of 2027—a milestone no automotive company has previously achieved. While going public is considered a possibility, executives suggested 2027 may be too soon, preferring to focus on successful launch and scaling first.