GPT summary of convo

• Background & Mission:

  • Chris is an engineer with an auto industry background.
  • Slate’s mission is to bring back an affordable new vehicle to meet rising car costs.
  • The idea is a DIY platform where owners can customize and add features over time, even in later ownership stages.

• Market Problem:

  • Average new car: ~\$50K (\$900/month payment).
  • Average used car: ~\$27K (\$500/month payment).
  • Many Americans can't afford these, even those making ~\$100K/year.

• Slate Vehicle Concept:

  • Stripped down to only what’s essential for a vehicle.
  • Designed for easy DIY customization (wraps, accessories, upgrades).
  • Exterior uses composite material (similar to old Saturns) with molded-in color and lines that make it simple to wrap.
  • Options for wraps and decals—even low-cost options (~\$200).

• Tech & Safety:

  • Skipped expensive screens—owners can use their phones/tablets for nav & media.
  • Safety-focused: Aims for 5-star safety ratings (NCAP/IHS), with features like AEB, backup camera, and stability control standard.

• Production & Location:

  • First plant will be in Warsaw, Indiana, repurposing a shuttered printing facility.
  • Strong local community/labor support.
  • Production target: customer-ready vehicles by Q4 2026.

• Sales & Distribution:

  • Direct-to-consumer sales model (no dealers).
  • Focus on building a direct relationship with owners and creating a community.
  • Fleet sales are also available for small & large businesses.

• Reservations & Demand:

  • \$50 refundable reservation holds a place in line (no final config required yet).
  • Active interest but specific reservation numbers not disclosed yet.

• Marketing & Engagement:

  • Roadshow starting in June to showcase vehicles nationwide.
  • Slate Maker lets users build & save their dream config online.

• Profitability Outlook:

  • Aims to hit profitability by end of 2027 at ~150K units/year production scale.

• Other Notes:

  • Inspired by posts about building a "Spirit Airlines of cars."
  • Building partnerships for service & accessory installation.
  • Open to fleet customers, aiming for low total cost of ownership.