Slate Auto, the EV startup backed by Jeff Bezos, finally revealed pricing for its bare-bones electric truck today: $24,950 to start. The company opened preorders the same day.

Slate also boosted the base model’s estimated range from 150 miles to around 205 miles, making the price look even better against a US new-car market where almost nothing starts under $30,000.

The cheapest new vehicle in America

The $24,950 figure excludes taxes, title, registration, destination, and documentation fees, so the out-the-door number will be higher. But even with those added, it sits at roughly half the average price of a new car in the US, which now hovers around $50,000.

That positioning is the entire point. The Blank Slate is a two-seat pickup that owners can convert into a five-seat SUV themselves, with the SUV configuration starting at $29,950. Slate showed off its first “Slate University” how-to videos today, walking buyers through everything from the SUV conversion to adding headlight covers.