In 2026, the U.S. electric vehicle market is set for a shift as automakers adapt to changing consumer demands and economic conditions. With the $7,500 federal tax credit concluding in September and a decline in retail sales anticipated for late 2025, expectations for vehicle sales, including gasoline models, are subdued. However, many manufacturers are focusing on introducing less expensive models, which may benefit the industry.
Slate Auto, an electric vehicle startup backed by Jeff Bezos and others, has attracted significant attention, reporting over 150,000 deposits for its two-door pickup truck since launching a reservation program in April. Initially priced around $20,000 prior to the tax credit expiration, the company remains optimistic about its affordability, despite economic challenges.
CEO Chris Barman assured potential buyers that the truck will maintain its low cost amid rising tariffs and economic pressures. He emphasized that the vehicle, expected to retail for approximately $25,000, will feature a no-frills design without luxury amenities, appealing to budget-conscious consumers. Additional options, including a higher-capacity battery and a conversion to an SUV, are available for added costs.