12 Most Affordable Electric Cars In 2024

Love them or hate them, there’s no denying electric cars are reshaping the car industry as we know it. While helping to keep the air much cleaner than internal combustion engine cars, EVs suffer from problems with the overall range due to current battery technology limitations.

Electric car MSRPs are also on average significantly higher than traditional cars, regardless of segment. According to CarEdge, manufacturers asked an average of $53,376 for their new electric cars in 2023, which is about 10% more than non-EVs.

This price difference is one of the more important reasons why some buyers are still hesitant to adopt EVs. That’s why HotCars compiled this list of the most affordable new electric cars on the market for 2024 and 2025, ranked from most expensive to cheapest. Their base MSRP without any added taxes/destination charges has been used to come up with a final order.

12 2024 Kia EV6: $42,600

Kia EV6 Specs

(Source: Kia)

Kicking off the list is the base version of Kia‘s EV6, which features an EV powertrain that consists of a single motor. Producing 167 hp, the rear-wheel drive vehicle offers decent luxury and performance in a tidy package.

The EV6, which has a range of 232 miles with the smaller 58 kWh battery pack included in the base version, will set its owner back $42,600.

11 2024 Hyundai Ioniq 5: $41,800

Hyundai Ioniq 5 Specs

(Source: Hyundai)

Another Korean challenger narrowly misses out on a top ten spot, as Hyundai’s Ioniq 5 claims 11th. The distinctive-looking hatchback is built on the exact same platform as the EV6, though the base SE model of the Ioniq gets a slightly smaller 58 kWh battery.

While power remains similar at 168 hp, the range is slightly down on the EV6 at 200 miles on a single charge. The Hyundai is slightly cheaper at $41,800, though.

10 2024 Volkswagen ID4: $39,735

Volkswagen ID4 Specs

(Source: Volkswagen)

Volkswagen ensures a place within the top ten with the first sub-$40,000 vehicle on this list, its ID4 EV SUV. The rear-wheel drive car has a single motor in its base Standard form, which produces more power than the Korean challengers at 201 hp.

The heavier car has a slightly reduced range of 206 miles compared to the EV6 and Ioniq 5, though its $39,735 puts it solidly clear in terms of pricing.

9 2024 Kia Niro EV: $39,600

Kia Niro Wind EV Specs

(Source: Kia)

With cars made by Kia/Hyundai making up a third of the 12 entries in this list, another crops up in ninth overall. The base Wind version of the Kia Niro EV will set its owner back $39,600, and for that, a 64.8 kWh battery is included.

Making 201 hp, the manufacturer says the Niro EV can achieve a range of 253 miles. Impressive, especially given it comes in at a smidge cheaper than VW’s SUV at $39,600.

8 2024 Hyundai Ioniq 6: $37,500

Hyundai Ioniq 6 Specs

(Source: Hyundai)

One of Hyundai’s other main higher-end EV offerings follows next, the Ioniq 6 sedan coming in at $37,500. For this, it’s lucky new keeper will get a single-motor powertrain that sends 149 hp to the rear wheels. The power comes courtesy of a 53 kWh battery.

Its curvaceous and slippery body shape helps it to achieve a range of 240 miles on a single charge, while also undercutting its siblings by a couple of grand.

7 2024 Volvo EX30: ($34,950)

Volvo EX30 Specs

(Source: Volvo)

The price really starts to drop as we wade through the top ten, with Volvo’s sole appearance in this ranking. Its EX30 boasts an impressive powertrain for its relatively modest $34,950 starting price, the single-motor setup featuring a 68 kWh battery.

This affords it a handy power output of 268 hp, while its range remains pretty solid at 225 miles on one charge.

6 2024 Tesla Model 3: $33,990

Tesla Model 3 Specs

(Source: Tesla)

The Tesla Model 3 is a well-known commodity at this point, with Elon Musk’s Tesla having revolutionized the EV market over the past couple of decades. The base Model 3 rear-wheel drive offering also represents good value compared to the entries seen so far on this list, its 50 kWh battery helping to give it 257 hp.

Tesla says the vehicle can cover an impressive 272 miles on a single charge, well clear of its more expensive rivals.

5 2024 Hyundai Kona Electric: $32,675

Hyundai Kona Electric Specs

(Source: Hyundai)

Into the top five now, which signifies the return of one of Korea’s potent challengers. The compact SUV Kona Electric is the cheapest full EV the company currently offers, coming in at $32,675.

For this, interested buyers will net themselves a roomy SE model with a single motor powertrain containing a 48.6 kWh battery. The smaller battery only provides 133 hp and a range of 200 miles, making it better suited to city driving over long-distance trips.

4 2024 Fiat 500e: $32,500

Fiat 500e Specs

(Source: Fiat)

While being the smallest vehicle on this list, making it ideal for city errands but not much else, the 500e is arguably the most stylish car to feature. At $32,500, the Italian vehicle comes with a rather tiny 42 kWh battery and a single motor powerplant, which powers the front wheels.

It only produces 117 hp, though this helps it to achieve a quoted mileage of 203 miles. Due to its size, it’ll be hard to find a more agile EV for the money.

3 2024 Tesla Model Y: $31,490

Tesla Model Y Specs

(Source: Tesla)

Tesla kicks off the podium ceremony with the base model of its Model Y SUV, the rear-wheel drive-only car that comes equipped with a single-motor powertrain. The Model Y RWD promises impressive performance for its $31,490 price tag, with 260 hp being put to the ground.

While the power is good, its 320-mile range on a single charge ensures it has the best range of all the cars featured on this list. There are a couple of cheaper options still out there though, so the Model Y has to make do as number three on this list.

2 2024 Mini Cooper Electric: $30,900

Mini Cooper Electric Specs

(Source: Mini)

Securing the runner-up spot is the full-EV version of the venerable Mini Cooper, which sports a single-motor powertrain combined with a 54.2 kWh battery. The setup makes a spritely 181 hp, though its range isn’t exactly extensive.

The brand quoted the Mini as capable of only 114 miles, rendering it practically useless for any long-range driving. It’s best suited to city driving, with its title as the second-cheapest EV in the US reflecting this.

1 2024 Nissan Leaf: $28,140

Nissan Leaf Specs

(Source: Nissan)

The Nissan Leaf takes the title as the cheapest EV currently on sale in the United States. The Japanese hatchback comes loaded with a single-motor powertrain that powers the front wheels mated to a 40 kWh battery. This gives the Leaf 147 hp, which helps it to a range of 149 miles.

While still better than the Mini, which costs just under $3,000 more, the Leaf is still more at home for city-hopping duties compared to some of the more expensive options on this list. Its low price, and decent four-door size, make it a great option for a family vehicle for shorter distances.

At the very least, it provides a solid way for any curious motorists to make the switch to EV at a reasonable price.

Sources: Kia, Hyundai, Volvo, Tesla, Mini, Nissan, Fiat, Volkswagen