Slate Auto CEO expects company to be profitable by late 2027

Chris Barman is tackling the biggest problem in the auto industry... vehicle affordability. (4 min. read)

Author

Anna del Villar
May 13, 2025

Slate Auto, has racked up 100,000 reservations in just two weeks for an electric pickup that starts below $20,000 after tax credits, per TechCrunch.

It’s a price point most car executives insist is impossible. But not CEO Chris Barman.

"The cost of vehicles is so high now," Barman told CDG's Uli De' Martino and Zeigler Auto Group COO Sam D'Arc on Daily Dealer Live. "The average cost of a new vehicle is about $50,000, equating to a $900 monthly payment. Even someone making $100,000 a year should only be spending about $400 on car payments."

Her solution? Strip out everything that isn't essential.

Why it matters: Slate Auto is tapping into a huge market. By eliminating extra features and offering a competitive price, the company is attracting Americans who can't afford the high costs of traditional luxury cars. And the automaker's approach threatens to upend an industry that has spent decades convincing itself that more expensive vehicles are the only path to profitability.

"One of the major cost drivers in vehicles today is screens," Barman explained. "We turned left when everybody went right and said most people are already getting navigation and music from their phones anyway."

But screens are just the start. Slate has eliminated many features that drive up costs:

  • No built-in radio or entertainment system

  • Manual crank windows instead of power windows

  • Simplified interior with fewer electronic components

  • Basic features that focus on function over luxury

Instead of expensive built-in systems, Slate created a modular interior where owners can add exactly what they want, when they want it.

"We're not going to make that decision," Barman said. "We're going to leave it up to the owner."

There's an accessory bar for mounting phones or tablets, and the center storage bin is sized for aftermarket radios. The entire vehicle philosophy centers on including only what makes it a vehicle—nothing more, nothing less.

Zooming out: When Barman's team designed the vehicle, they consulted with one of America's largest vehicle wrap companies from the beginning of the process.

"What makes wrapping difficult is the lines of the vehicle and the placement of hardware," Barman explained. "So we designed it upfront very linear, with character lines that create natural seams."

The result is a vehicle with clean composite panels designed to be wrapped without removing parts or extensive labor.

"Even if you can't afford a full wrap, we've designed decal packages where $200 gets you something that shows your personality," she added.

And the same vehicle can transform from a pickup to an SUV through a modular design that allows for tons of customization.

Yes but, what about safety? Barman is adamant they're not cutting corners where it matters most.

"We are designing it to be a new car assessment program, five star. So, NCAP five star, IIHS top safety pick," she noted.

The vehicles will include forward-facing cameras for automatic emergency braking, backup cameras, and electronic stability control as standard features.

Between the lines: Slate is bypassing traditional dealerships, raising questions about vehicle service and repairs.

"We feel it's very important that we create that relationship directly with the consumer. We want to build a community around that, and we want to make sure that we're hearing directly from them that they are satisfied with our product, with our offerings, and what we're providing to them," Barman said.

  • Part of that process, she explained, is building their service network with "institutions and companies already within communities." But specific partnerships haven't been announced.

  • For customers interested in DIY approaches, Slate is also developing "Slate University" to teach owners how to customize and maintain their vehicles.

By the numbers: Customer deliveries will begin in early 2026, with plans to reach 150,000 units at its Warsaw, Indiana plant annually by the end of 2027. When asked about profitability, Barman stated that she expects to achieve it at that production volume in late 2027.

Bottom line: The auto industry believes that consumers will gladly spend $50,000 on cars packed with features they never asked for. But Slate's explosive reservation numbers suggest the opposite. Americans are desperate for simple, affordable transportation without the bloat.

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