Since Slate Auto came out of stealth mode last week, the internet has been abuzz with speculation about the finer details of the ultra-barebones electric Truck, which is set to cost just $20,000 when it enters production next year — assuming our federal EV incentives are still in place by then.

With the average cost of a new car now edging closer to $50,000, the dream of affordable transportation is slipping away for many Americans. Basic, reliable vehicles—the kind that get you from point A to

Slate Auto unveiled its customizable EV, which can turn from a truck to an SUV and back in less than an hour, but will it gain traction for $20,000?