Latest news with #JeffBezos-backed
Miami Herald
2 days ago
- Automotive
- Miami Herald
Ford's $30K Electric Pickup Could Crush Jeff Bezos-Backed Rival
With a targeted price tag of just $30,000, the new battery-electric pickup Ford Motor Co. announced this week promises good news for buyers looking for an all-electric truck that won't break the bank. Costing barely half as much as the typical EV sold in the U.S. this year, Ford is betting it will position the automaker as one of the leaders in the EV market. That could be bad news for another brand focused solely on the affordable EV segment, the Jeff Bezos-backed Slate Auto, which in April revealed its own electric pickup it currently expects to start delivering next year at a starting price of $27,000. While Slate would appear to have an advantage when it comes to cost, Ford's "Universal EV" has lots going for it, with Sam Abuelsamid, chief analyst at Telemetry Research, declaring "Slate is cooked." After surging eightfold between 2019 and 2023, EV sales have since lost much of their momentum, market share sliding to just 8.6% at the end of the first half of 2025, according to Cox Automotive data. Part of the problem is that early adopters have largely already gotten the vehicles they want. Further growth depends upon targeting more mainstream buyers. That isn't easy, however, when the average transaction price for an EV was $55,689 in July, according to Kelley Blue Book. For all new vehicles sold in the U.S. last month, the average, or ATP, was $48,401. Complicating matters: the $7,500 federal tax credit many EV customers depended on will go away at the end of the September due to the federal budget bill enacted last month. To kickstart the market, analysts widely agree, means bringing out more new EVs priced in the low $30,000 range, and even below that figure. Ford says it's on track to get there thanks to the secret "skunkworks" program it set up in Long Beach, California three years ago. A small product development team came up with what they're calling the "Universal EV." Echoing what happened when founder Henry Ford switched on his first moving assembly line in 1913, Ford is setting up a completely new manufacturing process at a plant in Louisville, Kentucky. The ultimate goal is to produce an extended family of low-price battery-electric vehicles. In 2027 that will begin with a 4-door pickup with a "targeted price," said Ford, of $30,000. Details have yet to be released but Kumar Galhotra, Ford's Chief Operating Officer, made it clear the truck won't be just an econobox. "We do not believe that you need to strip out features, functionality, screens or even seats to make a vehicle affordable. We will achieve affordability by radically simplifying parts and process." Ford is by no means the only automaker feverishly working to shave EV prices. General Motors is readying an all-new version of the Chevrolet Bolt, its first long-range all-electric model set to debut this year. Kia has the EV4 coming, Nissan is finishing work on the next-generation Leaf and Tesla keeps promising its own entry model Then there's Slate Auto, based in the Detroit suburb of Troy. "We are building the affordable vehicle that has long been promised but never delivered," CEO Chris Barman said in April as she pulled the cover off an all-electric 2-door pickup. As with its more established rival, the Slate team poured over every aspect of automotive design, engineering and manufacturing. The truck's body will be made of unpainted gray polypropylene, rather than the normal steel or aluminum, for one thing. Unlike Ford's electric truck, meanwhile, the Slate model will be the ultimate example of stripping things down to their bare essentials. There'll be no radio, for example, and you'll have to supply the smartphone or tablet if you want an infotainment system. Even the windows will be hand-cranked. "I like simplifying things and making a lot of things optional for customers," said analyst Abuelsamid, "But they've gone too far." But one also has to take the promises made by both companies with a healthy dose of skepticism, cautioned Brinley. "How many times have we seen automakers set a price target but then end up coming in at $2,000, $3,000, even $5,000 more." And it remains to be seen, she added, whether either company will meet its planned production date. That's a common problem across the auto industry and Tesla has shown that this is particularly problematic for start-ups. Ford, for its part, is confident it can deliver, and then gain a real leg up on its competitors in the bid to drive down EV prices. The number two U.S. manufacturer is particularly hopeful the Universal EV project will allow it to challenge the domestic Chinese automakers gaining so much traction around the world. Slate isn't ready to concede defeat. Far from it, the start-up automaker claiming to have so far recorded over 100,000 advance reservations for its truck. But there seems little doubt Ford has now changed the rules of the game in the emerging market for truly affordable EVs. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
CNBC
3 days ago
- Automotive
- CNBC
Why Slate Automotive says it has cracked the code to affordable EVs
The Jeff Bezos-backed Slate Automotive says it can sell an American-made electric vehicle pickup truck for about half of the average transaction price in the U.S. Slate's pitch is keep the vehicle as simple as possible to save on manufacturing costs, and then let owners add on and customize the truck however they want. The Slate Truck is compact — two doors and two seats in its most basic form. It is spare — if you want an infotainment system, you have to add that yourself. And, you can. The vehicle is almost endlessly customizable. Slate plans to sell more than 100 accessories for its truck, including a kit that will convert it to a 5-seat SUV. But Slate also wants to make the truck "open source," meaning anyone could make accessories for the pickup. So far, more than 100,000 people have made reservations for Slate's small barebones truck. Price has been Slate's big selling point. Nearly half of American car shoppers say the top drawback to EVs is sticker price, according to a May 2025 survey by J.D. Power. Meanwhile, President Donald Trump has been levying tariffs on foreign automakers and slashed federal incentives for EVs, making it more difficult for consumers to buy EVs. Earlier in 2025, the company advertised that its truck would start below $20,000 with the $7,500 federal EV tax credit. It then wiped that language from its website around the time the Trump Administration issued an executive order in July that began the rollback of EV incentives. The company says the case for its cheap truck will remain strong after federal EV tax credits expire in September. The question for Slate is whether the vehicle is still compelling at around $27,000 or $28,000 as it would be around $20,000. There is only one vehicle in the United States transacting below $20,000 — the Mitsubishi Mirage. But below $30,000 there are about 20 models, according to Cox Automotive. One of those is the Ford Maverick, which comes with either a straight internal combustion engine or a hybrid powertrain, and has many of the features the Slate lacks. "All of a sudden, that price point just doesn't look very competitive anymore," said Market Research Telemetry Vice President Sam Abuelsamid, adding that Slate could lower its price to appeal to consumers. "But now you start to eat into that profit margin." Watch the video to learn more
Business Insider
04-07-2025
- Automotive
- Business Insider
Slate Auto ditches 'under $20,000' price tag for its pickup EV after Trump's 'Big Beautiful Bill' passes
Slate's plan to sell its no-frills electric pickup for under $20,000 appears to have hit a speed bump. The Jeff Bezos-backed EV startup previously said its modular Slate truck was expected to start at under $20,000 after federal incentives, but has now changed its website to say the electric truck will be priced in the "mid-twenties." Slate's website featured the "under $20,000" expected price as recently as Wednesday, according to Internet Archive screenshots viewed by Business Insider. TechCrunch first reported the change. It comes as the US House of Representatives passed a final version of President Donald Trump's "Big Beautiful Bill," which is expected to kill the $7,500 tax credit for new US-built electric cars from September. When it unveiled the utilitarian truck in April, Slate said it would cost $25,000. However, the company had been banking on federal incentives, such as the $7,500 discount, to push the price of its first EV under the $20,000 mark. The company did not respond to a request for comment from BI, sent outside normal working hours. A lack of affordable options has hampered EV adoption in the US, and Slate Auto's CEO previously told BI the company aimed to help fill that gap. The startup made a big splash with its first vehicle, with the back-to-basics pickup truck amassing 100,000 refundable reservations in its first three weeks on sale. Although the base version of the truck, which is set to be built in Indiana with deliveries beginning in 2026, will lack frills such as screens, radios, or power windows, Slate says it will be heavily customizable. Buyers will be able to buy over 100 accessories, ranging from personalized wraps to an "SUV kit" that transforms the Slate truck into a five-person people carrier. The average price of an EV in the US is already almost $10,000 more expensive than its combustion-engine equivalent, and experts have warned that the scrapping of the $7,500 tax credit will make electric cars even more unaffordable. A report by Harvard University's Salata Institute in March found that removing the tax credit would result in a 15% hit to expected EV sales by 2030, and 20 million metric tons extra of CO2 emissions over the same time period.
Yahoo
26-06-2025
- Business
- Yahoo
10x Returns Lost: Redditors Reveal Which Stocks They Sold Way Too Early
Investing in stocks isn't easy. You have to stay on top of multiple companies and predict how the future will unfold. While investors confidently hold on to stocks during bullish cycles, many of these same investors fold during bearish markets. Many Redditors discussed stocks they sold too early in a recent post that is gaining momentum. Some Redditors lost out on massive, life-changing returns just by exiting reliable companies during corrections. "If I waited a year, I would be 10x," one Redditor stated when talking about buying Nvidia (NASDAQ:NVDA) in 2020 and selling at breakeven in 2022. Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. One investor regretted selling Tesla (NASDAQ:TSLA) shares eight years ago. Another investor sympathized and said they also sold Tesla eight years ago, citing 10% daily swings as the main reason for exiting. Tesla was one of the biggest winners during the pandemic and has gone up by more than 1,000% over the past eight years. While some posts contained nothing more than people talking about their losses, this one contains a valuable lesson. If you invest in a company for the long run, you have to endure volatility. Sharp price swings are especially common for growth stocks that have tremendous long-term potential. Ignore the price swings and consider where the company will be in the next decade. Another Redditor mentioned that they owned 1,000 shares of Netflix (NASDAQ:NFLX) about 18 years ago. Netflix doesn't receive as much attention since the FAANG acronym is out of style, but it's still a top-performing stock, especially for early investors. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. Netflix shares have gained anywhere from 30,000% to 50,000% since 2007, depending on when investors bought their shares. That's a massive gain to lose out on, but 2007 was right before the Great Recession, so it was common for people to exit the markets frantically. One commenter offered an interesting perspective on Netflix stock that highlights how some investors were thinking at the time. "There were a lot of experts over the years, especially in the beginning, saying how other media companies were going to make [Netflix] irrelevant or basically put them out of business." Those concerns were unfounded, and it goes to show that some people forecast the absolute worst-case scenario. These overblown narratives may have caused some investors to abandon ship, especially during the Great Recession. Some people posted impressive gains in the comments section that don't feel so good knowing how the assets performed in the long run. One investor bought a bunch of Bitcoin at $0.50 apiece and sold them for $250 to buy a house. It's the type of gain you rarely get, but it still feels like the Redditor missed out on a great opportunity with Bitcoin now above $100,000 a coin. Another Redditor thought they did well when they bought Advanced Micro Devices (NASDAQ:AMD) shares for $2-$3 dollars and sold at $9.50. It's a 3x profit, but AMD stock now goes for more than $100 per share. It's easy to beat yourself up about missing out on 10x returns, but most investors should love a 3x return. While it makes for entertaining content, dwelling on missed opportunities isn't the right approach for building long-term wealth. You can learn from your mistakes and commit to long-term investments instead of selling amid volatility. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 10x Returns Lost: Redditors Reveal Which Stocks They Sold Way Too Early originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
26-06-2025
- Business
- Yahoo
Can You Guess What an Upper-Class Retiree's Monthly Income Looks Like? Here's What the Wealthy Are Actually Living On
There's no shortage of financial advice telling you how much you should save for retirement. But what does retirement actually look like when you're in the upper class? When you've built real wealth and stopped working — what does that monthly income actually add up to? For most affluent retirees, the answer lands somewhere between $7,000 and $20,000 per month. That's not just a guess — it's based on how much wealthier households withdraw from investments, plus any additional income they may bring in from rentals or pensions. Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Pew Research defines upper income as earning at least twice the national median household income. For working households, that bar sits around $149,000 a year, or roughly $12,400 per month. But retirees aren't working 9 to 5 — their income often comes from a mix of withdrawals, rental income, and other passive streams. So a more realistic benchmark is based on retiree households specifically. According to the U.S. Census, the median income for households age 65 and older is about $50,290 per year, or $4,190 per month. Using Pew's same logic, that would put the upper-class retiree threshold around $100,580 per year, or $8,380 per month. As of 2025, the maximum monthly Social Security benefit for someone who waits until age 70 is $5,108, according to the Social Security Administration. While few retirees receive the absolute max, upper-income earners who delay claiming often see checks in the $3,500 to $4,200 per month range. It's a meaningful stream of income—but for upper-class retirees, it's typically just one piece of a larger financial plan. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. If a retiree has a $1 million nest egg and follows the classic 4% rule, they're withdrawing about $40,000 per year — or $3,333 per month. But many upper-class retirees have more than that. With $2 million saved, the withdrawal climbs to around $6,667 per month. Of course, the 4% rule doesn't account for taxes, inflation, or personal spending habits. Many retirees with large portfolios adjust their strategy to pull slightly more or less, depending on market performance and life expectancy. Affluent retirees don't just rely on retirement accounts. Some hold rental properties that bring in steady cash flow. Others have dividends, annuities, or part-time income. These extra streams can add another $1,000 to $3,500 or more each month. And unlike fixed-income retirees, the upper class often has flexibility — they're not just living off what they saved, they're continuing to generate income. According to the Bureau of Labor Statistics, the average household age 65 and up spends about $57,818 annually — or roughly $4,818 a month. But that's just average. Wealthier retirees often spend far more, not because they're extravagant, but because their lifestyle includes property taxes, travel, healthcare, and legacy planning. And to comfortably cover those costs — while preserving their lifestyle — many upper-income retirees maintain a monthly income in the $7,000 to $10,000 range, with some bringing in $15,000 to $20,000 or more. For anyone aiming to join that upper tier, it's a wake-up call: the retirement goal isn't just about hitting a number — it's about building an income plan that holds up month after month. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Can You Guess What an Upper-Class Retiree's Monthly Income Looks Like? Here's What the Wealthy Are Actually Living On originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
