Latest news with #Barman
Miami Herald
a day ago
- Automotive
- Miami Herald
Slate shows its bare-bones, ‘mid-$20s' EV truck at Detroit summit
DETROIT - Slate Auto, the Michigan electric vehicle startup backed by Amazon founder Jeff Bezos, has publicly touted a starting price for its pickup of "under $20,000" since coming out of stealth mode in April. But that was before President Donald Trump's big tax and domestic policy bill was signed into law on July 4, halting the $7,500 tax credit for EV buyers by the end of September. Now, Slate CEO Chris Barman said in Detroit this week, the starting price will be in "mid-$20s" when the two-seater trucks ideally start rolling off the line at a facility in Warsaw, Indiana, late next year. "Our business model was never built upon that tax credit being in place," Barman told The Detroit News at the Reindustrialize summit, a gathering of executives and policy experts focused on bringing manufacturing back to the United States. Slate showed off one of its vehicles at the summit. "We always viewed it as something that would be great for the customer to be able to get an even more affordable vehicle. But we've always, you know, had a target of being priced in the mid-$20s, and that's what our business case has been built upon," she said. Still, the company had widely touted the sub-$20,000 price tag upon its launch. TechCrunch reported that the carmaker stopped promoting that figure on its website once Republicans' "One Big Beautiful Bill" passed at the start of the month. A mid-$20s price tag would put the stripped-down EV truck in line with a number of entry-level vehicles on the road today - rather than, at the initial sub-$20,000 mark, potentially the cheapest new car out there. Slate, headquartered in Troy, has built much of its early brand on going against the grain of the auto industry's ever-increasing focus on bigger screens, more sensors and various other luxury accoutrements. A hype video Barman showed to Reindustrialize attendees noted that "cars are getting bigger, fancier and more expensive, because of ... stuff." Chief Commercial Officer Jeremy Snyder pointed out at an April launch that the average new car payment tops $700 per month and that many new cars face frequent warranty issues due to being packed with so much technology. "The industry has abandoned the majority of Americans," he said. Slate says it will offer a basic truck with only a few standard features, including air conditioning, cruise control and rear and forward-facing cameras. Much more can be customized later by the owner - items like additional speakers, colorful wraps and a DIY conversion kit to turn the little pickup into a five-seat SUV. "By eliminating the complexities of build configurations as well as a paint shop, we passed savings back to the customer without cutting corners," Barman said in a presentation. She said Slate's idea has quickly gained traction, with more than 100,000 people so far placing a $50 reservation. The startup is also advertising that the truck will be America-made at a moment when there is increasing interest in domestic manufacturing with Trump's tariff policies. The company is converting an old printing press facility in Warsaw, population 16,000, into its assembly site and expects to eventually employ close to 2,000 people. "We're still doing quite a bit of demolition" on the interior of the production site, Barman told The News. "We're gonna be, within the next few weeks, starting to get into laying in some floors where we had to take (them out) because the depth of the cement there wasn't enough for the equipment we put in. So we're really putting a lot of infrastructure in right now." Barman said her company aims to source parts domestically wherever possible, with a number of suppliers so far based in the Midwest. But some parts for the truck simply can't be found in the United States anymore, the CEO said, like the truck's manual-crank window regulator, which is sourced from Brazil. She said Slate sees itself as drawing in customers who would otherwise only be considering used cars, which on average sell for about what the Slate truck aims to retail for, in the mid-$20,000s. "We're going to be pulling from the whole 35 million used vehicle (market)," Barman said, where shoppers figured they may be forced to settle for fewer safety standards and no warranty. "Now, they can step into a vehicle that has all the latest safety standards, comes with a warranty. It's an EV, so repairs will be lower because there's less parts to maintain in the vehicle, and it can grow with them. ... If they can't afford to make it an SUV when they first buy it, a year later, two years later, they can then change it out." Several EV startups have gone bankrupt or faced dire financial straits in over the last year as demand for the vehicles hasn't met expectations and funding has dried up. Even established players like Tesla Inc., Rivian Automotive Inc. and Lucid Group Inc. face headwinds, especially now that the tax credit is ending. Slate, though, is pushing ahead and advertises almost 100 open positions on its website in Michigan, Indiana and elsewhere. The startup has drawn attention from more established automotive players because of its Bezos connection and its focus on being cheap and customizable. "It was really interesting seeing that (Slate truck) out there," Paul Stephens, Ford Motor Co.'s global strategy manager, said on a panel at the Reindustrialize summit. "Complexity reduction is one thing, and part-count reduction is another thing too. So when we're looking at future product designs, trying to reduce the number of components while keeping the same task, is one of the top priority items that I've been seeing, and not just at Ford but the industry at large." And Tim Kuniskis, the CEO of the Ram truck brand who also oversees other U.S. Stellantis NV brands, recently called Slate's approach "super interesting" during a press event. "The idea behind it, you know, we've talked about that idea a million times. Super interesting. I give (Barman) a lot of credit," he said. "It's a cool idea. Now what's it going to actually transact at in the marketplace where the tax credits are gone and people start to option them up? It's not going to be $20,000. It's going to be $35,000, and by the time you get to $35,000, you're in midsize truck territory." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
15-07-2025
- Automotive
- Yahoo
Slate CEO says 5 types of car shoppers are interested in its low-cost EV pickup
Slate Auto CEO Chris Barman described five types of buyers interested in the company's low-cost electric truck. The demographic groups included fresh college graduates, newly-licensed drivers, and retirees, she told Sherwood News. The Jeff Bezos-backed company initially promised a truck "under $20,000," but shifted to a "mid-twenties" expected price tag. Slate Auto's new electric vehicle is expected to be unusually cheap, priced in the mid-twenty-thousand-dollar range. Given its anticipated price point, Slate says it has seen interest from five different consumer segments as it prepares to enter the market, CEO Chris Barman said in a recent interview with Sherwood News. First, Barman said that "everyday Americans" are interested in the vehicle, mostly because "it's just an affordable vehicle and a lot of utility and value for the money." Barman also said that "young professionals" fresh out of college or trade school are interested. "They're looking for value for the money, and what they love is the fact that it's an EV and they love the customization," she said. Electric vehicle ownership has long veered younger, according to a March Gallup poll, with 64% of 18-34-year-olds surveyed interested in owning an EV, compared to just 41% of those ages 55+. Barman is eyeing an especially young demographic: newly licensed drivers. "Parents like the fact that there are only two passengers, it doesn't have an infotainment for distraction, it has really high safety standards, and it's affordable," Barman told Sherwood. Among the older set, Barman points out that "contemporary seniors" are interested in the vehicle. " "They're individuals who are semiretired or retired and are interested in an electric vehicle, but have been intimidated by all the other technology that has been in an EV," she said. "They just want a simpler form of driving." Finally, auto junkies are interested in tricking the car out, the CEO added. Slate's electric pickup truck's "mid-twenties" price target remains relatively inexpensive, a feat especially important as the EV market floods with Chinese competitors outside of the US. The Jeff Bezos-backed EV producer originally said that its truck would be "under $20,000" after federal incentives. That price would have made the truck substantially cheaper than its EV competitors, like the Nissan Leaf, which starts at $28,140. When $50 reservations opened in April, the company reported receiving more than 100,000 requests in the first three weeks. President Donald Trump's "One Big Beautiful Bill Act" is set to eliminate many of the country's clean energy incentives, including the $7,500 tax credit for new US-built EVs, which Slate had been counting on to hit the sub-$20,000 pricing threshold. After Trump's spending bill was signed into law on July 4, Slate Auto changed the expected price online from "under $20,000" to "mid-twenties," where it remains. Read the original article on Business Insider
Business Insider
15-07-2025
- Automotive
- Business Insider
Slate CEO says 5 types of car shoppers are interested in its low-cost EV pickup
The electric vehicle owner demographic has centralized around some common traits. EV owners tend to be high earners and lean left politically. But Slate Auto's new electric vehicle is expected to be unusually cheap, priced in the " mid-twenties." Given its price, Slate says it has seen interest from five different consumer segments as it prepares to enter the market, CEO Chris Barman said in a recent interview with Sherwood News. First, Barman said that "everyday Americans" are interested in the vehicle, mostly because "it's just an affordable vehicle and a lot of utility and value for the money." Barman also said that "young professionals" fresh out of college or trade school are interested. "They're looking for value for the money, and what they love is the fact that it's an EV and they love the customization," she said. Electric vehicle ownership has long veered younger, according to a March Gallup poll, with 64% of 18-34-year-olds surveyed interested in owning an EV, compared to just 41% of those ages 55+. Barman is eyeing an especially young demographic: newly licensed drivers. "Parents like the fact that there are only two passengers, it doesn't have an infotainment for distraction, it has really high safety standards, and it's affordable," Barman told Sherwood. Among the older set, Barman points out that "contemporary seniors" are interested in the vehicle. " "They're individuals who are semiretired or retired and are interested in an electric vehicle, but have been intimidated by all the other technology that has been in an EV," she said. "They just want a simpler form of driving." Finally, auto junkies are interested in tricking the car out, the CEO added. Slate's electric pickup truck's "mid-twenties" price target remains relatively inexpensive, a feat especially important as the EV market floods with Chinese competitors outside of the US. The Jeff Bezos-backed EV producer originally said that its truck would be "under $20,000" after federal incentives. That price would have made the truck substantially cheaper than its EV competitors, like the Nissan Leaf, which starts at $28,140. When $50 reservations opened in April, the company reported receiving more than 100,000 requests in the first three weeks. President Donald Trump's "Big Beautiful Bill," however, is set to eliminate many of the country's clean energy incentives, along with the $7,500 tax credit for new US-built EVs. After the spending bill was signed into law by Trump on July 4, Slate Auto changed the price online from "under $20,000" to "mid-twenties," where it remains.
Indian Express
11-07-2025
- Politics
- Indian Express
Newly inducted Tripura BJP Minister Kishor Barman gets Panchayat, Higher Education, and GA (Political) portfolios
More than a week after he was sworn in as a cabinet minister, Tripura BJP MLA Kishor Barman was allocated three portfolios – Panchayat, Higher Education, and General Administration (Political) – on Friday. In a notification, signed by Chief Secretary Jitendra Kumar Sinha, it was stated that the three departments that were earlier with Chief Minister Manik Saha have been handed over to Barman. 'I have got the scope to work for the development of people living in gram panchayats and also development of education. I love to work with people and for their development,' Barman told the media after the portfolio distribution was made official. Governor Indrasena Reddy Nallu administered the oath of office to Barman at the Durbar Hall of Raj Bhawan in Agartala on July 2. Barman contested and won the 2023 Assembly polls from the Nalchar Assembly constituency (SC) in Sepahijala district. He has served as the national general secretary of the Akhil Bharatiya Vidyarthi Parishad for three terms. A postgraduate in Bengali from Tripura University in 2004, Barman, 44, was engaged with the BJP's organisational work in North Bengal and served in party campaigns in Sikkim, Tripura, and the Andaman and Nicobar Islands. He became the BJP state general secretary in Tripura in 2021. Later, he quit from the post following the party's 'one man, one post' principle after he won the Assembly polls.
Time of India
03-07-2025
- Politics
- Time of India
CM inducts new min in Tripura cabinet amid speculation over appointment of BJP state prez
Agartala: Tripura chief minister Manik Saha on Thursday inducted a new member in his 27-month-old govt, still keeping a cabinet berth vacant in his 12-member council of ministers, amid speculation and persuasion over the appointment of state president of Tripura BJP. Tired of too many ads? go ad free now In a brief event, governor Indrasena Reddy Nallu administered the oath of office and secrecy to the 45-year-old postgraduate RSS volunteer MLA from Nalchar of Sepahijala district, Kishore Barman, as a cabinet minister. However, the chief minister has not yet allocated any portfolio to him. Sources said with the induction of Barman, there is a speculation of reallocation of portfolios among the ministers, and the strength of the cabinet rose to 11, where BJP has nine and its allies, IPFT and TIPRA Motha, have one member each. Saha had earlier appointed TIPRA Motha MLA Brishketu Debbarma as minister of state for industries and commerce, following persuasion of Motha founder Pradyot Kishore Debbarman. However, it didn't make him happy. As a result, not a single day Debbarman attended the office, though he took part in two departmental programmes in a year. "The portfolio for Barman has not been decided. Today, only his swearing-in ceremony was held, and it's also a local holiday. Shortly, he will be given an assignment. I have full faith and confidence in him that whatever responsibility will be entrusted to him, he will discharge it efficiently like my other colleagues to make the dream of a Vikshit Bharat of our Prime Minister a reality," Saha told the media. Party sources said the central leadership of BJP has not yet decided on the president for Tripura in the absence of a consensus among different factions. Tired of too many ads? go ad free now RSS has been pushing for taking the party baton into their hands, while senior BJP leaders want to select a president of their choice. "The Lok Sabha MP Biplab Kumar Deb has two choices and is being persuaded to finalise it through the RSS line. Deputy speaker Ram Prasad Paul and former union minister Pratima Bhowmik have been pressing for their own, while the chief minister has a different choice to strengthen the party in political lines. As a result, the BJP president for Tripura has been halted for six months, although all other BJP-ruled states elected their presidents," a senior party leader said.
