Slate Auto, the electric vehicle startup backed by prominent investors Jeff Bezos and Mark Walter, has announced that it will reveal pricing for its low-cost electric vehicle on June 24. Alongside the pricing announcement, the company will begin accepting non-refundable preorders, a move designed to secure a queue of customers ahead of its first scheduled deliveries later this year.

The startup’s vehicle is designed with a focus on utility and customization, offering a modular platform that can be converted from a two-seater truck to a five-seater SUV. While the company’s initial projections were influenced by federal tax credits that are no longer available, Slate Auto now indicates that the vehicle is expected to enter the market in the mid-$20,000 range. The minimalist approach, featuring hand-crank windows and a no-frills aesthetic, has already attracted significant consumer interest, with more than 160,000 people placing refundable reservations.

To support its manufacturing and scaling efforts, Slate Auto has assembled a leadership team largely composed of former Amazon executives, including CEO Peter Faricy. The company is also well-positioned financially, having raised approximately $1.4 billion to date, including a recent $650 million Series C funding round. Much of the startup’s capital has been sourced from TWG Global, the financial firm led by Mark Walter.