Slate Auto, the EV startup backed by billionaire Jeff Bezos, is finally here. Disclosure Starting price for its electric truck: $24,950.

According to the company, this does not include taxes, title, license, registration, government fees, destination charges, documentation fees, and any optional equipment. Slate began taking pre-orders for the truck on Wednesday.

Importantly, Slate also said it has increased the estimated range of its base model from 150 miles to about 205 miles — though that comes at the cost of abandoning plans for a larger, 240-mile battery pack.

Aggressive pricing — half the average price of a new car in the United States — positions the Slate to capture a share of the bottom end of the new car market, which these days has fewer gas and less electric options. The Chevrolet Bolt is one of the Slate’s closest EV competitors with prices starting around $29,000, while the Nissan Leaf starts around $32,000. Ford is teasing a $30,000 electric truck that’s due in 2027.

The price reveal comes more than a year after the Slate Auto emerged from stealth. Since then, the company has continued to detail the most basic, convertible EV, which starts out as a two-seat pickup truck, but can be converted into a five-seat SUV. The SUV version will start at $29,950, Slate said Wednesday.

Slate said the change can be done by professionals or the owners themselves. On Wednesday, it finally showed some of the first videos from its “Slate University,” which guides people through everything from modifying an SUV to adding headlight covers.

Everything else about the truck is barebones, though it’s customizable. It has hand-crank windows, lacks an infotainment system, and all orders start with the same gray composite material, with no paint option, as Slate plans to let buyers order custom wraps for the car. This potentially helps eliminate a large cost center, as factory paint shops can run into the hundreds of millions of dollars.

The company did not provide further details about the purchase process. Slate has said it will “not have a traditional dealership,” and plans to sell directly to consumers, like other EV companies like Tesla, Raven, and Lucid Motors.

Earlier this month, TechCrunch first reported that Slate Auto had given online used car company Carvana a warrant to buy its stake, suggesting the two could collaborate on selling low-cost trucks. Carvana recently revealed plans to shake up its current business model and sell new cars. (One of Slate’s main investors, Guggenheim Partners CEO Mark Walter, is a major shareholder in Carvana.)

Slate has been promising that the car will be priced in the mid-$20,000s before it comes out of stealth, as TechCrunch first reported early last year. The company aims to build something like Ford’s Model T, or Volkswagen’s Beetle, and a starting price of around $25,000 has long been the target.

But the path to those goals has been complicated by the second Trump administration and Republican control of Congress. The policy changes have loosened emissions standards, and removed the $7,500 federal EV tax credit. As a result, many major automakers have delayed or stopped plans for new EVs in the US.

The startup has raised a lot of money chasing these ambitious goals. So far, investors have pumped about $1.4 billion into Slate in three major funding rounds. The company has remained tight-lipped about those backers, though along with Walter’s firm TWG Global, we know the cap table includes General Catalyst, Jeff Bezos’ family office, VC firm Slauson & Co., and former Amazon executive Diego Piacentini, as TechCrunch first reported.