When looking to purchase a new electric car, the high price tag can be a deterrent for many buyers, especially those with a budget of less than $40,000. However, there are several options available that adhere to this budget. This article provides a comprehensive list of battery-powered cars in the United States that meet this pricing criteria, as well as information on three additional cars that exceed the $40,000 limit.
It’s important to note that all prices mentioned in the list include the destination charge, unless otherwise specified. Additionally, the tax credit mentioned applies to the purchase of these EVs, not leasing.
The list starts off with the Nissan Leaf S, which is currently the cheapest new all-electric car in the U.S. with a starting price of $29,235, including the destination charge. It offers a 40-kilowatt-hour battery capacity and a front-mounted electric motor with 147 horsepower, providing an EPA-estimated combined range of 147 miles on a full charge.
Moving on to the Mini Cooper SE, this electric vehicle comes in as the second most affordable option with a starting price of $31,895, including the destination charge. The entry-level model offers a range of 114 miles and features a 32.6-kilowatt-hour high-voltage battery capacity.
The Hyundai Kona Electric SE comes in at a starting price of $34,010 and boasts a range of 200 miles on a full charge, drawing power from a 48.6-kilowatt-hour battery pack and a 133-horsepower electric motor.
Fiat’s latest generation of the 500e INSPI(RED) is priced at $34,095 and offers a manufacturer-estimated driving range of 149 miles. It comes with a larger 42-kilowatt-hour battery compared to its predecessor, as well as an 85-kilowatt fast charging capability from a DC stall.
General Motors’ all-new Equinox EV, priced at $34,995 (excluding destination tax), is set to join the market soon and has already received an EPA rating. This electric crossover promises a range of 319 miles and features fast-charging capabilities up to 150 kW from a DC charger.
Volvo’s entry-level EX30 Single Motor Core RWD comes in at $36,245 and offers an estimated range of 275 miles on a full charge. The electric crossover comes equipped with a 69-kilowatt-hour battery pack and can charge at up to 153 kW from a compatible DC fast charger.
Fisker’s Ocean Sport is priced at $38,999 (excluding destination charge) and provides an estimated driving range of 231 miles from its lithium-iron-phosphate battery.
The Volkswagen ID.4 Standard edition is priced at $40,290, offering a range of 209 miles on a full charge. Meanwhile, Tesla’s Model 3 RWD starts at $40,380, providing a range of 253 miles.
Finally, the Kia Niro EV has a starting price of $40,975 and offers a range of 272 miles on a full charge.
For a complete listing of the cheapest EVs in 2024, refer to the table below:
Rank | Model | Price
——|——-|——-
1 | Nissan Leaf S | $29,235
2 | Mini Cooper SE | $31,895
3 | Hyundai Kona Electric SE | $34,010
4 | Fiat 500e INSPI(RED) | $34,095
5 | Chevrolet Equinox EV 1LT FWD | $34,995 (excl. dest. fee)
6 | Volvo EX30 Single Motor Core RWD | $36,245
7 | Fisker Ocean Sport | $38,999 (excl. dest. fee)
8 | Volkswagen ID.4 Standard | $40,290
9 | Tesla Model 3 RWD | $40,380
10 | Kia Niro EV | $40,975