Slate Auto, a startup backed by Jeff Bezos, has recruited a key manufacturing leader from Tesla Inc. amid its push to produce an affordable electric vehicle pickup truck. The startup has hired Napoleon Reyes, who previously headed Tesla’s Model Y and Model Y Refresh General Assembly in Fremont, California.
About Napoleon Reyes
Reyes will be taking on a new role as Senior Manager, Plant Vehicle Engineering at Slate Auto in Warsaw, Indiana. He worked with Tesla for five years before joining Slate, where he will be working with Rich Schmidt, an early manufacturing director at Tesla who currently heads manufacturing at Slate.
Slate Auto’s Affordable EV Pickup Truck
The news comes as Slate Auto revealed its $20,000 pickup truck, for which the company has already received 100,000 reservations. The pickup truck is a no-frills version that omits features such as a stereo system, power windows, and a paint job to keep costs in check. However, the $20,000 price tag includes the $7,500 Federal EV Credit, which is set to expire on September 30.
Impact of Federal EV Credit Expiration
With the credit set to expire, Slate’s plans for the truck could be affected. However, the IRS has issued a modification that allows customers to avail the Federal EV credit beyond the September 30 deadline, provided they sign a binding purchase agreement and pay a fee before or on September 30.
Tesla’s Price Hike and Federal EV Credit
Meanwhile, Tesla has hiked the price of the Cybertruck’s quickest, range-topping Cyberbeast trim, which now retails for $114,990, up from the previous price of $99,990. This move comes amid a declining sales trend and the looming deadline for the Federal EV credit.
Conclusion
The hiring of Napoleon Reyes by Slate Auto is a significant move for the startup as it pushes to produce an affordable electric vehicle pickup truck. With the Federal EV credit set to expire, the company’s plans for the truck could be affected. However, the IRS modification provides a glimmer of hope for customers looking to avail the credit beyond the deadline.