Slate Auto's CEO says its $25,000 bare-bones electric pickup truck will be profitable

CEO Peter Faricy says every vehicle will be gross margin positive, with a break-even point of roughly 80,000 units a year

Greg Doherty / Getty Images

Slate Auto CEO Peter Faricy said the company's $24,950 bare-bones electric pickup truck will be profitable, with a goal of reaching positive free cash flow and earnings before taxes, depreciation, and amortization by 2027.

"It's an ambitious goal," Faricy said. "No other automotive company has been able to do that before. So it's ambitious. It's going to take a lot of work. Nothing's guaranteed in life, but you have to have ambitious goals if you want to achieve big things."

Gross margin positivity on every unit shipped is........

© Quartz