Slate Auto Gets $5 Million Michigan Boost For $25,000 Electric Truck
Electric vehicle startup Slate Auto is getting up to $5 million from the State of Michigan to expand its Troy headquarters.
The taxpayer-funded grant was approved on May 19 by a state economic development board for the Michigan-based company, which is closing in on its goal to start production of its affordable battery powered pickup truck by the end of the year.
Slate Pledges to Bring 400 New Jobs to Troy HQ
In return, Slate is promising almost 400 new corporate, engineering and design jobs in Michigan that pay a minimum of $43 an hour over the next five years as production ramps up. Currently, the company employs approximately 325 people in the state.
Slate is promising close to 400 new corporate, engineering and design jobs in Michigan that pay a minimum of $43 an hour over the next five years as it ramps up production. The company employs abut 325 people in the state.
Slate's headquarters expansion is expected to result in capital investments of roughly $10.4 million in Troy. Under the terms of the state grant, Slate may request reimbursement for up to $2.5 million in construction, machinery, furniture, job training and other expenses. The company could get another $2.5 million after meeting job creation and capital investment targets.
Backed by Amazon founder Jeff Bezos, Slate Auto was set up in 2022 and so far has raised at least $650 million to begin production of its electric truck in Warsaw, Indiana.
Deliveries are expected to begin late this year for the Slate Truck, which comes as a two-seater pickup that can be converted into a four-seater SUV.
$25,000 Electric Truck on Track to Launch Before Year-End
Slate Auto says it has more than 150,000 reservations for the truck, which is expected to start at around $25,000, making it the most affordable electric truck on the U.S. market.
To build a low-cost EV, Slate's government affairs head Will Nicholas said the company recruited engineers, product designers and other innovators, mostly from Michigan, with experience from the blue chip automotive brands.
"We needed a team that had been in the metaphorical trenches," he told the Michigan Strategic Fund Board during a May 19 meeting, according to The Detroit News. "There are few places in the world that buzz with automotive innovation. Michigan is clearly one of them."
Slate is entering the market amid slow-growing demand for EVs and no more EV incentives, but the low starting price could offer an advantage, along with rising gas prices.
The Slate Truck features a single rear-mounted electric motor rated at 201 hp (150 kW) that draws energy from a standard 52.7-kWh battery pack enabling a targeted range of 150 miles. An 84.3-kWh extended-range pack is also planned with a 240-mile range target.
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This story was originally published May 20, 2026 at 6:15 PM.