Slate and SK Executives on Bringing the Inexpensive EV to Market

CEOs of Slate and manufacturer SK On discuss the beginnings of the partnership to build a low-cost electric truck/SUV, and why the market needs it now.

May 22, 2025

Roberto Baldwin

In May of 2024, Slate had an idea and a presentation. It knew it wanted to build an affordable vehicle and that the vehicle would be electric. "We were talking to many different companies, SK came and actually visited us at our Long Beach facility, and we gave them a lot of background on the vehicle and showed them actually a real prototype," Slate CEO Chris Barman said to SAE.

That meeting led to a six-year partnership between the two companies that was signed on the day of the unveiling of the Slate pickup in Long Beach, CA. SAE caught up with Barman and SK On CEO Lee Seok-hee backstage at the event just moments after the deal was signed.

Slate CEO Chris Barman and SK On CEO Dr. Lee Seok-hee (Roberto Baldwin)

"What was amazing was the immediate support and the immediate understanding of the need for an affordable vehicle, even though batteries are expensive, just really embracing working with us, Barman said.

According to Lee, SK On was immediately impressed with what Slate was proposing. "When I first saw the presentation, I was immediately moved. Because in my mind, the general public really needed an affordable vehicle, and we're not offering that."

Lee was impressed by how Slate was able to reduce the components Slate was using to build its electric pickup. That reduction in parts translates to a vehicle that the company is bringing to market at around $27,000. That's far less than the average sale price of a vehicle currently in the United States.

As of February of 2025, the average transaction price of a new vehicle is about $48,000.

Lee and SK were so impressed with Slate was bringing to market that it penned a six-year deal. "We're just thrilled that SK has the confidence in us really working with us about what was the right size of battery (and) what cell format should we use. What would be the most efficient and effective plant location of what they have to really optimize for the needs of Slate," Barman said. The deal will supply Slate with about 20 gigawatt-hours (GWh) of SK's U.S.-made high-nickel NCM (nickel-cobalt-manganese) batteries from 2026 through 2031.

Sk On is more associated with high-end EVs. This is the company's first foray into partnering with an automaker to build a low-cost EV. The move was extremely important to the battery-maker's CEO.

"In the United States, we all talk about manufacturing innovation and all this, but Slate is actually doing it. And when I saw that, it was really touching, really impressed, " Lee said. In a press release, Lee added, "This partnership with Slate demonstrates how our U.S. manufacturing capabilities are enabling more effective and flexible support for innovative customers."

Of course, in a world of large trucks and large price tags, Barman sees a spot of Slate. "What we love about it is, we think it's for all Americans. So, you know, given where its price point is and that its affordability, you know, anybody can own it."

During the presentation, Barman added, "We are building a vehicle that has long been promised but never delivered."

Barman said, "So it's been critically important to us that we found a partner, not only that has a long standing history of providing a great product, but one that's able to work with us in order to help support and also just talking about future innovation that's coming and what might be able to, even, you know, help that further drive the cost of batteries." Lee replied, "I second that."