With the current state of the automotive industry, especially with the challenges faced by electric car manufacturers, Slate has managed to make a mark with its innovative approach. The launch of their electric truck with a starting price below $20,000 garnered widespread attention and praise.
However, the recent end of the federal tax credit has caused some changes in Slate’s pricing strategy. The truck, which was initially expected to be priced below $20,000, is now projected to start in the mid $20,000 range. Despite this increase in price, Slate remains optimistic due to the availability of state-level tax credits for many reservation holders.
According to Slate, a significant number of reservation holders are located in states that offer EV incentives, which could help offset the impact of the federal tax credit expiration. While the federal tax credit was a significant factor in the initial pricing of the truck, Slate is confident that state-level incentives will continue to make their electric vehicles more accessible to customers.
During a preview of Slate’s upcoming factory in Warsaw, Indiana, COO Jeremy Snyder emphasized the importance of state incentives in maintaining the affordability of their vehicles. Despite the challenges posed by the federal tax credit ending, Snyder stated that Slate’s prices have remained consistent, and the company is actively exploring state-level incentives to support their customers.
State-level programs like Oregon’s Charge Ahead initiative offer substantial incentives for low-income buyers, potentially matching the $7,500 federal tax credit. With the predicted starting price of the Slate truck at $25,000, Oregon’s incentives could bring the cost down to an attractive $17,500, making Slate’s electric truck an appealing option for environmentally-conscious consumers.
Overall, Slate’s ability to adapt to changing market conditions and leverage state-level incentives demonstrates their commitment to making electric vehicles more accessible and affordable for consumers. As the automotive industry continues to evolve, Slate’s innovative approach and dedication to sustainability position them as a promising player in the electric vehicle market.
Oregon’s smaller $2,500 credit for electric vehicles is set to run out of funds on September 8, 2025, leaving many potential buyers in the state without the incentive they were counting on. The program won’t be able to pay out again until 2026, which could deter some consumers from purchasing an electric vehicle in the near future.
However, Oregon is not alone in offering EV incentives. There are currently 17 states with active EV incentive programs, providing various levels of incentives to encourage the adoption of electric vehicles. For example, New York’s Drive Clean program offers up to $2,000 off at the point of sale, while Illinois provides up to $4,000 in incentives. California Governor Gavin Newsom has also expressed interest in restarting the EV tax credit program in the state following the end of the Federal tax credit.
Despite the uncertainty surrounding state-level incentives, electric vehicle manufacturer Slate has reported healthy demand for their vehicles across all 50 states, including Puerto Rico. While the exact number of orders from states with tax credits versus those without was not disclosed, Slate’s spokesperson mentioned that there is significant interest from consumers who are still planning to purchase a truck with the help of state credits and rebates.
Overall, the future of EV incentives in Oregon and other states remains uncertain, but there is still hope for continued growth in the electric vehicle market as more states implement programs to support the transition to clean transportation.