How Trump Helped China Make America’s Cheapest EV
Everyone’s worried about affordability right now, including the companies that make cars. Especially the companies that make electric cars, which cost an average of $55,000.
That makes America’s newest and cheapest electric truck a welcome addition to the market—and an odd duck. Officially unveiled last week, the small, modular offering from Michigan-based automaking upstart Slate costs just below $25,000 for its base model, and the base model doesn’t get you much. You’ll have to pay more for everything, from powered windows to speakers.
But beyond being bare bones, there’s another hidden quirk that allows Slate to reach a rock-bottom price: a lithium iron phosphate (LFP) battery pack. It’s a technology invented in the US but perfected in China. They’re cheaper than traditional nickel manganese cobalt (NMC) batteries.
In a quest to make lower-cost EVs, a handful of US-based manufacturers are on Slate’s path, leaning into the less popular...
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