Slate Auto, the EV manufacturer backed by Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos, has unveiled its modular EV pickup truck.

What Happened: The two-seater EV pickup truck features a retro design that is reminiscent of yesteryear models from manufacturers like Ford Motor Co. (NYSE:F).

The truck will be priced competitively, with a $20,000 price tag post federal EV credit and be available by the end of 2026, the company said as it showcased the truck at a launch event in Long Beach, California, on Thursday. The company says that customers can make a reservation for the vehicle on the website for $50.

"We are building the affordable vehicle that has long been promised but never been delivered," Slate CEO Chris Barman said at the event.

As stated above, the truck features a modular design and can be had in either a two-seater pickup truck or a five-seater SUV trim. The official website for the company features 25 starter kits for customers to choose from, each catered to a different use case.

Slate Auto says the truck offers a standard range of 150 miles, but a longer battery pack would offer 240 miles of projected range on a single charge. The spec sheet suggests the truck has a 1400 lbs hauling capacity and a 1000 lbs towing capacity, and features a five-foot-long bed.

The truck does not have paint options and is available in the standard grey color, but instead, a wrap of any color from the available options can be chosen by the customer when placing an order. The truck also features no stereo system or touchscreen display.

Why It Matters: The launch comes in as talks of the pickup truck have been in the headlines for the past few weeks, with the concept truck being sighted by people on multiple occasions.

The company would be poised to take on the likes of Tesla Inc. (NASDAQ:TSLA), which recently pivoted its marketing strategy for the Cybertruck to position it as a working man's truck.

Tesla has also informed investors of its plans to release more affordable models this year, which could help boost the company's declining sales in the U.S. domestic EV sector.

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