- More affordable EVs are on the way this year.
- Car companies are scrambling to offer more affordable EV options amid demand slump.
- There are still some EV options in the $30,000 to $40,000 range.
As electric vehicle shoppers become more practical and price-conscious, inexpensive EVs are having a moment.
Affordable electric models are becoming a key piece of the auto industry’s transition away from fossil fuels as demand for the more expensive models falls.
Automakers have returned to the drawing board this year on the EV plans, adding more hybrid options than before and promising more affordable EVs.
Ford, for example, announced earlier this week it would be prioritizing smaller, more inexpensive EVs going forward. And GM said it would start selling more hybrids in North America as customers adjust to EVs.
While customers wait for these less expensive models to show up, we asked car-shopping website Edmunds for a list of the 10 cheapest electric vehicles going on sale this year.
Here are a few models you can find on dealer lots that won’t break the bank.
Average sticker price (or MSRP): $30,900
Mini has a few different electric models, but the cheapest available is the 2-door Hardtop, with an average MSRP of $30,900, according to Edmunds.
Mini is also offering leasing deals on the SE Hardtop, which includes a $9,900 EV lease credit through the end of February.
Average sticker price: $32,165
Nissan’s Leaf has been a pioneer of the EV segment for years. While its range and charging speeds have fallen behind its peers, it remains one of the most inexpensive options for a budget-minded electric-car shopper.
Average sticker price: $32,500
Fiat-owner Stellantis announced last year that it would bring back the Fiat 500e for the North American market in the first quarter of 2024.
Average sticker price: $36,798
Hyundai is becoming a more popular brand among EV adopters since it added the Kona and Ioniq to the lineup. Both vehicles provide sleek looks and an impressive range at lower prices than luxury competitors.
Average sticker price: $42,100
For electric SUV shoppers looking for something more practical than a Tesla, the Kia Niro delivers a more traditional interior void of some of the gimmicky tech that has become commonplace in the EV segment.
Average sticker price: $46,165
Toyota’s first mass-market electric vehicle is also among the least expensive models on the market this year. It’s the only EV you’ll find on a Toyota lot, as the Japanese car company has instead prioritized its popular hybrid lineup.
Average sticker price: $46,243
Following up on the popular Ioniq 5, Hyundai’s Ioniq 6 is an even more futuristic-looking option from the Korean automaker. While less expensive than the Ioniq 5, the Ioniq 6 still delivers an impressive range of 361 miles on a full charge.
Average sticker price: $48,490
Price cuts on the Model Y last year helped make the car Tesla’s most popular model last year.
Average sticker price: $49,195
Ford’s Mustang Mach-E has encountered some challenges after more expensive versions of the electric car were hard for dealers to move off their lots last year. Still, the electric SUV’s less expensive trims continue to be a popular option for shoppers.
Average sticker price: $50,700
The Hyundai Ioniq 5 has long been a favorite of Business Insider’s. It’s a more attainable EV with a cyberpunk looks and more than 300 miles of range.