The electric vehicle (EV) market is one of the most exciting sectors in modern investing.
With established names like Tesla dominating the landscape, newcomers like Rivian and Lucid Motors have also piqued investor interest.
But a new player on the block, Slate Auto, has been catching the eyes of many — particularly with its announcement of a budget-friendly electric pickup truck. But the burning question remains: Will Slate Auto go public? Can you invest in Slate EV stock in 2025?
In this article, we’ll break down what you need to know about Slate Auto, its current status, and whether you’ll be able to buy Slate EV stock anytime soon.
What Is Slate Auto? A Game-Changer in the EV Industry
Slate Auto is a Michigan-based electric vehicle startup that made waves in 2024 with the announcement of its innovative, low-cost electric pickup truck.
Founded in 2022, the company is led by Chris Barman, a seasoned automotive executive, and has attracted significant backing from influential investors, including Jeff Bezos, Mark Walter (of Guggenheim Partners), and Thomas Tull.
The company’s mission is clear: to revolutionize the EV market with a focus on affordability, modular design, and customization.
Their flagship vehicle, the Slate Truck, is being positioned as an affordable alternative to traditional gas-powered trucks and more expensive electric pickups.
What sets it apart is its customizable design — it can be transformed into an SUV or utility vehicle with over 100 possible upgrades, allowing buyers to personalize their vehicle in unique ways.
Despite being a relatively new entrant, Slate Auto has garnered attention for its innovative approach to electric vehicles, particularly as the demand for trucks and SUVs in the EV space grows.
What Makes the Slate Truck Special?
Slate Auto’s standout offering is the Slate Truck, a minimalist electric vehicle designed for practicality and customizability. Here’s a breakdown of its key features:
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Affordability: The Slate Truck is priced at around $27,000, making it one of the most affordable electric pickup trucks on the market. After applying federal incentives, its price could drop below $20,000. This price point is revolutionary, especially when compared to the high costs of other EV trucks like the Ford Lightning or Rivian R1T.
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Range: The Slate Truck comes with a 150-mile range on a standard battery, with an option to upgrade to a 240-mile range with a larger battery pack. While this range might not match Tesla’s or Rivian’s flagship offerings, it’s more than sufficient for daily tasks and light-duty work.
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Modular and Customizable: One of Slate Auto’s key differentiators is the truck’s modular design. The Slate Truck is made for users who like to tweak and customize their vehicles. With over 100 available upgrades — from practical additions like toolboxes and storage solutions to more exciting modifications like transforming the truck into an SUV — the vehicle is as much a platform for customization as it is a product.
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Minimalist Approach: The Slate Truck is designed with minimalism in mind. It lacks many of the frills found in more expensive EVs, such as high-end stereo systems and large touchscreens, making it a straightforward, no-nonsense vehicle for those who prioritize functionality over luxury.
With these features, Slate Auto is clearly targeting budget-conscious consumers who want a reliable and customizable electric vehicle without breaking the bank.
Is Slate Auto Publicly Traded?
Despite the buzz surrounding Slate Auto, the company is not publicly traded as of 2025. Slate Auto remains a privately held company, which means its stock is not available for purchase on public stock exchanges like the NYSE or NASDAQ.
This might be surprising given the level of interest surrounding the company, but it’s important to note that many high-profile startups in the EV space — including Rivian, Lucid Motors, and Fisker — also began as private companies before eventually going public.
In fact, Rivian went public in 2021, raising nearly $12 billion in its IPO, while Lucid Motors went public via a SPAC merger in 2020.
So, what does this mean for potential investors? As of now, Slate Auto does not offer an opportunity to buy stock. However, that doesn’t mean it will stay that way forever.
Will Slate Auto Go Public? Here’s What We Know
For any startup, deciding to go public is a big decision that involves significant planning and regulatory hurdles. While Slate Auto has not yet announced any formal plans for an Initial Public Offering (IPO), there are a few factors to consider:
1. Market Demand for EV Companies
The market for electric vehicles continues to grow exponentially. With governments worldwide pushing for carbon neutrality and increasing consumer demand for eco-friendly alternatives, Slate Auto is entering a lucrative market.
A successful Slate Truck could make the company an attractive target for investors — particularly as the demand for electric pickups and SUVs grows.
2. Slate Auto’s Investment Backing
Slate Auto has attracted high-profile investors like Jeff Bezos and Mark Walter, which suggests that the company has strong financial backing and is positioned for long-term growth. These investors may eventually push the company toward an IPO to capitalize on its growing market presence.
3. The Trend of EV Startups Going Public
The trend of EV startups going public — either through a traditional IPO or a SPAC merger — is still very much alive.
Given the attention surrounding the EV space, it wouldn’t be surprising if Slate Auto explores these avenues in the future. Rivian, for example, went public despite being a relatively young company with limited product offerings at the time.
4. Potential for SPAC Merger
While traditional IPOs are one route, many newer companies in the EV space have chosen to go public via a SPAC merger.
This could be a faster and more flexible option for Slate Auto if it decides to go public sooner rather than later. A SPAC merger would allow Slate Auto to list on the stock market without the lengthy process of a traditional IPO.
How to Invest in Slate Auto (When Possible)
If you’re eager to invest in Slate Auto, there are a few ways to position yourself for future opportunities:
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Stay informed: Keep an eye on Slate Auto’s announcements, particularly regarding funding rounds or IPO updates.
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Invest in the EV sector: While Slate Auto isn’t available to invest in directly right now, you can consider investing in other EV-related stocks or exchange-traded funds (ETFs) that focus on electric vehicle companies.
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Venture capital firms: If you have access to venture capital or angel investing opportunities, it may be possible to get involved in private rounds (although this typically requires significant investment).
Conclusion
While Slate Auto isn’t currently a public company, the interest surrounding its Slate Truck suggests that it could be on a path toward an IPO in the coming years.
With a strong leadership team, innovative product offerings, and backing from top-tier investors, Slate Auto is one to watch closely in 2025.
Until then, investors will need to explore other ways to get exposure to the rapidly growing electric vehicle market. Keep your eyes on news from the company — Slate Auto might just be the next big thing in EV stock.
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