9 of the Cheapest Electric Vehicles in 2022

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Young man recharging an EV car
SofikoS / Shutterstock.com

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

Hyundai Ioniq 5 electric vehicle
haryanta.p / Shutterstock.com

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.

Volkswagen ID.4

Volkswagen ID.4 electric vehicle
ginger_polina_bublik / Shutterstock.com

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

Ford F-150 Lightning electric truck
rblfmr / Shutterstock.com

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

Kia Niro EV electric vehicle
letspicsit / Shutterstock.com

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

Hyundai Kona Electric car
Teddy Leung / Shutterstock.com

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

Mazda MX-30 EV electric vehicle
Grzegorz Czapski / Shutterstock.com

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

Chevrolet Bolt EUV electric vehicle
Miro Vrlik Photography / Shutterstock.com

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

Chevrolet Bolt EUV electric vehicle
Miro Vrlik Photography / Shutterstock.com

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.

Nissan Leaf

Nissan Leaf electric vehicle
ben bryant / Shutterstock.com

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.

Get smarter with your money!

Want the best money-news and tips to help you make more and spend less? Then sign up for the free Money Talks Newsletter to receive daily updates of personal finance news and advice, delivered straight to your inbox. Sign up for our free newsletter today.