Electric vehicles aren’t just a fad — they’re here to stay. A Pew Research Center report found that 39% of Americans are likely to consider an EV for their next car purchase. About 7% of adults currently own an EV or hybrid.
While sticker prices have risen across all types of vehicles in recent years, EVs cost more than their gas-guzzling friends.
According to Kelley Blue Book, electric vehicles cost an average of about $67,000 as of June 2022. That compares with an average of about $53,000 for non-electric entry-level luxury cars and about $45,000 for full-size cars. Non-electric compact cars average about $26,000.
Not all EVs cost that much, though, and interested buyers should remember maintenance costs tend to be relatively minimal.
Following are some of the most affordable new electric cars (from the 2022 or, if available, 2023 model year). All cost less than $40,000 — and a couple cost less than $30,000.
Some of them qualify for a federal tax credit, which is worth up to $7,500 as of the 2022 tax year, assuming you are otherwise eligible for the credit.
Hyundai Ioniq 5
Starting MSRP: $39,950
This crossover SUV can go up to 303 miles on one full charge. Depending on your commute, you could go weeks without charging your car.
Starting MSRP: $37,495
This small SUV seats up to five people. Its range with a full, overnight charge is 275 miles, but a 10-minute stop at a fast-charging station can get you about 70 miles.
Ford F-150 Lightning
Starting MSRP: $39,947
The F-150 Lightning can tow up to 10,000 pounds. This all-electric truck has a range of up to 320 miles on a full charge. Or, instead of hitting the road, Ford says it has the backup power to keep your home running for up to three days.
Kia Niro EV
Starting MSRP: $39,990
This crossover SUV gets about 293 miles on a full charge, though you can get about 100 miles’ worth in about 30 minutes at a fast-charging station.
Hyundai Kona Electric
Starting MSRP: $34,000
You can get up to 258 miles on a full charge with this SUV. Plugged into a home outlet, the Kona Electric takes a little more than nine hours to charge from 10% to 100%.
This car is currently for sale in only about a dozen U.S. states, according to Hyundai’s website. So if you’re considering it, call your dealership first to see if they have it.
Mazda MX-30 EV
Starting MSRP: $33,470
The Mazda MX-30 EV has a range of about 100 miles on a full charge — much less compared with some other EVs on the list. But if this fits your budget and driving lifestyle, it might work out for you.
Chevrolet Bolt EV
Starting MSRP: $25,600
The Bolt EV gets up to 259 miles on a full charge and boasts the ability to go from 0 to 60 mph in 6.5 seconds with its responsive acceleration.
Chevrolet Bolt EUV
Starting MSRP: $33,500
The Chevy Bolt EV has a sibling: the Bolt EUV (electric utility vehicle). It gets up to 247 miles on a full charge, and goes from 0 to 60 mph in 7 seconds. Like the EV, the EUV seats five but offers more rear-seat leg room: 39.1 inches instead of 36 inches.
Starting MSRP: $27,800
Among its features, the Leaf comes with a full suite of standard driver assist and convenience tech. You can get up to 226 miles off of one charge.
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