Slate Auto’s CEO Peter Faricy says the company’s planned electric pickup truck, priced around $24,950–$25,000 in a bare-bones configuration, is expected to generate profitability on each vehicle. Faricy tells Quartz and CNBC that every truck produced will have a positive gross margin. He also links the company’s overall financial targets to production scale, saying the program’s break-even point is roughly 80,000 units per year. In a separate interview with CNBC, Faricy adds that Slate Auto aims to be cash-flow positive next year, framing profitability and cash-flow goals as part of its near-term business plan. The reporting describes a combination of per-unit gross margin positivity and a larger volume threshold needed to reach broader financial break-even. Across the outlets, both interviews attribute the outlook to the same executive and focus on expected margin performance and production targets, with no additional details about vehicle specifications, manufacturing costs, or external funding in the provided excerpts.
Slate Auto CEO says electric pickup truck will be profitable at targeted sales volumes
Slate Auto’s CEO Peter Faricy says the company’s planned electric pickup truck, priced around $24,950–$25,000 in a bare-bones configuration, is expected to generate profitability on each vehicle. Fari...
- Slate Auto plans a bare-bones electric pickup priced around $24,950 to $25,000.
- CEO Peter Faricy says every vehicle produced is expected to have a positive gross margin.
- Faricy estimates break-even at roughly 80,000 units per year.
- The company aims to be cash-flow positive next year, according to Faricy’s comments to CNBC.
CEO Peter Faricy says every vehicle will be gross margin positive, with a break-even point of roughly 80,000 units a year
1 day agoEV startup Slate Auto CEO Peter Faricy told CNBC that every vehicle the company produces will be gross margin positive.
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