Slate Auto, an electric vehicle startup backed by Amazon CEO Jeff Bezos, unveiled its inaugural truck the company says starts at a price of $20,000 for the most bare-bones version, a lower price than competitors including Elon Musk’s Tesla vehicles.

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?

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.