Bill Ackman Hails Jeff Bezos-Backed Tesla Rival Slate Auto, Says It Will Be 'A Big Success'

Pershing Square's Bill Ackman has hailed Amazon.com Inc. AMZN founder Jeff Bezos-backed Slate Auto as the company recently revealed its $20,000 EV truck.

What Happened: Quoting a post that shared a Slate Auto commercial on social media platform X, Ackman hailed the company's modular approach to its vehicle on Saturday.

"This is a going to be a big success. We all want more simplicity and flexibility in our lives," Ackman shared in his post.

Why It Matters: Slate Auto has only one product on offer, which it calls the ‘Blank Slate.' In its base form, it is a two-seater EV pickup truck in grey with a 150-mile range, but customers can personalize the car in whatever way they want, including a 5-seater SUV.

The company says that with the federal EV credit, the car could cost $20,000, which is significantly cheaper than the likes of Tesla Inc.'s TSLA Cybertruck or Rivian Automotive Inc.'s RIVN R1T.

While Slate Auto says the company aims to begin deliveries by 2026, the EV pickup truck has already garnered a lot of buzz on social media platforms like Reddit.

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Interestingly, the release comes at a time when the domestic EV market in the U.S. is experiencing a surge, which Slate Auto could take advantage of given its product's competitive pricing.

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