VinFast Goes Full Franchise, Slate Reveals $20K EV

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Episode #1028: Today we talk about VinFast ditching direct sales for a full franchise model, Slate launching a no-frills EV pickup that’s shaking things up under $20K, and the growing movement toward skills-based hiring over college degrees.

Show Notes with links:

• VinFast is officially out of the direct-to-consumer game in California, shifting gears to focus solely on franchised dealers across the U.S. The pivot comes as the Vietnamese EV maker wrestles with rising costs, sliding U.S. registrations, and mounting losses.
  • VinFast is closing all 15 of its company-owned California showrooms in favor of a full franchise model.
  • The brand currently has 38 dealer locations either open or on the way across 16 states.
  • U.S. EV registrations dipped to just 367 in Jan–Feb 2025, an 18% year-over-year decline.
  • The VF 8 accounted for 321 of those, while the three-row VF 9 saw just 46.
  • The company posted a $3.18B net loss in 2024; despite revenue growth, operating costs surged.

• After months of mystery and speculation, Slate, the American EV startup backed by Jeff Bezos, has made its first big move—introducing an all-electric, highly customizable pickup that ditches luxury frills for practicality and affordability.
  • Slate is taking a “clean slate” approach by skipping high-end trims and focusing on accessibility.
  • It will be built in the U.S., comes with over 100 optional accessories, and starts below $20,000 after federal incentives.
  • The flagship model is modular, converting from a 2-seat pickup to a 5-seat SUV with optional flat-pack kit.
  • The interior is stripped-down with HVAC knobs, crank windows and a universal phone mount—your OS, your way.
  • Specs include a 52–84 kWh battery, 150 kW RWD motor, 8-second 0-60, and up to 240 miles range.
  • Slate will sell directly to consumers with a $50 reservation; first deliveries are slated for Q4 2026.
  • CEO Chris Barman says: “The definition of what’s affordable is broken. Slate exists to put the power back in the hands of customers who have been ignored by the auto industry.”

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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