10 Most Affordable Electric Cars
ELECTRIC CARS 2023 – Going electric doesn’t have to be expensive. The 10 EVs with the lowest entry costs are listed below.
A new car represents a costly investment, and their prices are steadily increasing. Based on data gathered by Kelley Blue Book in May, the mean cost of a new vehicle transaction in the US has surged to slightly above $48,000, which is approximately 25% higher than the average in May 2023.
However, there’s a brighter side to this situation. Taking a closer look at the same data, the average prices of new electric vehicles (EVs) have actually decreased by about $10,000 compared to 2022, averaging around $55,000. This reduction can be attributed to a combination of increased supply and the introduction of more reasonably priced models and trim levels. In a previous article, we featured the top 10 cars made by non-car companies.
Despite this, electric vehicles still tend to be more expensive on average than traditional fossil fuel-powered cars. Nevertheless, if you’re considering transitioning to an electric vehicle, there are still numerous affordable options available.
Below is a list of the ten most budget-friendly electric cars currently available:
2023 Chevrolet Bolt EV 1LT
The Chevrolet Bolt EV is presently the most economical electric car for purchase in the US. Remarkably, it doesn’t compromise on range and performance, surpassing many pricier electric vehicles with its impressive 259-mile cruising range per charge. While its charging speed is slightly slow and its interior is relatively basic, the Bolt EV offers good value for the price, featuring intelligent dashboard technology based on Android Auto and Apple CarPlay. In general, the Bolt EV is an emission-free urban commuting vehicle that’s convenient to own.
It’s worth noting, however, that the production of both the Bolt and its larger variant, the Bolt EUV, is set to conclude later this year. Price: $27,495, Range: 259 miles
2023 Chevrolet Bolt EUV 1LT
The Bolt EUV takes all the positive aspects of the Bolt EV and applies them to a larger platform. With more room for passengers and cargo, the EUV is possibly a better choice for young families, and it’s only slightly more expensive than its smaller counterpart. Nevertheless, the increased size does lead to a minor reduction in range, still impressive at 247 miles per charge. All in all, the Bolt EUV offers excellent value and serves as a fantastic entry point for those interested in an electric vehicle lifestyle. Price: $28,795, Range: 247 miles
2023 Nissan Leaf S
For many people, the Nissan Leaf was the first electric car that was genuinely considered an alternative to conventional gasoline-powered vehicles. Now in its second generation, the Nissan Leaf continues to be a strong contender. In its most affordable configuration, the Leaf S equipped with a 40-kWh battery pack offers a range of 149 miles per charge. Opting for the 212-mile, 60-kWh pack requires a higher cost but provides more flexibility in terms of electric driving range.
However, it’s important to acknowledge that the 13-year-old Leaf is beginning to show its age and is being outperformed by newer rivals with superior dashboard and driver assistance technology. While it remains one of the more budget-friendly EV options, it might not be the optimal choice for those seeking an affordable electric vehicle in today’s market. Price: $29,135, Range: 149 miles
2023 Mini Cooper Electric SE
The 2023 Mini Cooper Electric SE is purpose-built for specific tasks. While its range is limited to 114 miles between charges and its 50-kilowatt DC fast charging is relatively slow, it’s not the ideal choice for long road trips. However, for city driving, the Cooper SE stands out as an exceptional electric car with excellent handling and acceleration at urban speeds. Its appealing interior and exterior design, along with its compact size, make maneuvering and parking easy. It excels as an emission-free city car, suburban commuter, or the first electric vehicle for young drivers. Despite its constraints, it remains one of our preferred new electric car options. Price: $31,895, Range: 114 miles
2023 Hyundai Kona Electric SE
The 2023 Hyundai Kona Electric SE occupies a favorable position in terms of affordability, utility, and practicality for a compact electric commuter. This compact SUV offers a range of up to 258 miles per charge and provides a generous cargo capacity of up to 46.8 cubic feet with folded seats. It comes standard with Hyundai’s impressive driver assistance and infotainment suite, complete with Android Auto and Apple CarPlay connectivity. Price: $34,885 Range: 258 miles
2023 Volkswagen ID 4 Standard
Volkswagen’s 2023 ID 4 serves as a midsize electric SUV, filling the gap between the smaller Taos and Tiguan models powered by gasoline. Positioned above most compact and subcompact options, the base Standard variant combines a 62kWh battery pack with a rear-axle electric motor producing a modest but torquey 201 horsepower. This configuration provides an estimated range of about 209 miles. Opting for the 82-kWh setup, which extends the range to 275 miles for an additional cost, offers more peace of mind for long journeys. Price: $40,290, Range: 209 miles
2023 Kia Niro EV Wind
The 2023 Kia Niro EV, often overshadowed by its popular counterpart, the EV6, is a front-wheel-drive model. With a robust electric motor generating 201 horsepower and a cruising range of 253 miles, it offers solid battery electric performance. While the EV6 boasts superior speed, range, and efficiency, the Niro EV is only slightly behind in these aspects. Moreover, it comes at a more affordable price, starting at $40,875 for the well-equipped Wind trim level. It shares the same excellent driver assistance and infotainment features as the pricier EV6. Additionally, the Niro is available in hybrid and plug-in hybrid variations for those not ready for a full electric experience. Price: $40,875, Range: 253 miles
2023 Tesla Model 3 RWD
Tesla’s 2023 Model 3 continues to disrupt the market, with its price fluctuating frequently. Currently priced at $41,630, including destination charges, it’s more affordable than ever. This electric sedan offers impressive performance and boasts the highest range of any EV on this list, with 272 miles. Coupled with the $7,500 federal EV tax credit and potential state incentives, the Model 3 is a compelling choice for budget-conscious electric vehicle enthusiasts. Price: $41,630, Range: 272 miles
2023 Hyundai Ioniq 6 SE Standard Range
Following the success of the Ioniq 5, Hyundai introduced the Ioniq 6 as a more compact version. With sleek curves and a highly aerodynamic profile, this sedan showcases innovative design and space utilization. Although its interior is slightly more minimalist compared to the Ioniq 5 crossover, it still impresses with intelligent features. Starting at $42,715 for the Standard Range model, the Ioniq 6 offers up to 240 miles of range per charge and benefits from ultrafast charging capabilities. At a 350-kW DC fast charging station, it can achieve an 80% charge in just 18 minutes, making it a practical option for those seeking both efficiency and convenience. Price: $42,715, Range: 240 miles
2023 Hyundai Ioniq 5 SE Standard Range
The 2023 Hyundai Ioniq 5 SE Standard Range showcases a design with sharp, well-defined angles and a compact crossover shape that is more upright. This vehicle shares the outstanding electric vehicle platform, powertrain, and battery pack with its smaller counterpart, the Ioniq 6. Despite being priced nearly the same, with a starting price of $42,785, the Ioniq 5 costs just $70 more. The main distinction lies in its larger size and increased passenger and cargo space. The Ioniq 5 SE Standard Range provides a 220-mile range, slightly sacrificing range for enhanced roominess, making it a slightly more suitable choice for small families. Price: $42,785, Range: 220 miles
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