5 Budget-Friendly Electric Cars With More Than 300 Miles Of Range

Buying an electric vehicle (EV) in 2024 is a very good idea. That’s because, as Cox Automotive calls this year “The Year of More”, the EV market will be a buyers’ market. Unlike during the pandemic when supply chains were topsy-turvy and all over the place, car prices were out of wack and business was in favor of dealers. As supply chains normalize and more EVs reach the market, automakers will be more aggressive in marketing their vehicles and therefore more generous in offering incentives and discounts to customers.

There are, however, brands who have scaled back their aggressive EV plans, but that’s not to say they will stop selling EVs. It’s more of the fact that they’ll simply adjust their production and release timelines in line with market demands. Still, with emissions regulations and policies favoring EVs, 2024 will be the year when more EV models are set to hit the market.

However, in order to reach the mainstream market. aka, the ones who aren’t early adopters who were the majority of EV buyers in the past few years, an EV must have an EPA-estimated range of around 300 miles for it to replace an internal combustion engine (ICE) car. At the same time, there’s a tiny percentage of the market who still prefer passenger cars over crossovers and SUVs. So, if you’re one of those looking for an affordable 300-mile electric car, here are five models that are budget-friendly and are therefore also the most affordable on the market right now.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Cox Automotive, The Seattle Times, Lucid, BMW, Polestar, Tesla, and Hyundai. The models have been listed from most expensive to least based on their starting MSRP.

Lucid Air Pure RWD – 410 Miles

Starting MSRP: $69,900

If you’re in the market for an affordable electric luxury sedan, well, the first vehicle on this list isn’t exactly affordable. However, relative to its competition – Tesla Model S Dual Motor All-Wheel Drive included, the base Lucid Air Pure RWD stands out as one of the longest-range electric sedans you could buy, full stop.

Granted, a base Model S gets two electric motors and AWD, so it’s a better match for the Air Touring variant, but if you don’t need AWD and all you need is plenty of luxury, cutting-edge tech, and plenty of range, the Air Pure RWD is an overachieving sedan.

Performance Specifications

(Data was collected from Lucid)

Despite being the “base” Pure variant, it doesn’t mean you’re getting the short end of the Lucid Air stick. The RWD layout makes it feel more agile and playful than the AWD. It may have a smaller 88 kWh battery than those fitted in the higher trims, but no one said 410 miles of EPA-estimated range in an EV wasn’t enough. Top-notch efficiency is one of the Air’s best attributes, and so is its refinement and balanced driving dynamics. We do wish it had physical controls as opposed to burying everything into the array of touch screens.

Pros

• Top-class efficiency and range
• Cutting-edge interior
• Sultry styling

Cons

• Lack of physical controls
• Brake regeneration doesn’t offer coast function
• Sleek styling reduces accessibility

BMW i4 eDrive40 – 301 Miles

Starting MSRP: $57,300

The BMW i4 is likewise not an affordable electric sedan, yet with limited options in this segment, it’s the fourth most affordable electric sedan you could get today. It’s a reflection of how our market loves crossovers and SUVs so much these days. Anyway, the BMW i4, unlike the Lucid Air, doesn’t ride on a bespoke EV platform. Instead, it’s literally a 4 Series Gran Coupe with an electric drivetrain. So don’t expect stuff like a front trunk and a flat interior floor. What you can expect, though, is that this comes with a fastback tailgate, and there aren’t many of these left in the United States.

Performance Specifications

(Data was collected from BMW)

Despite those packaging constraints, the i4 is one of the best to drive among the EVs on this list. BMW’s chassis tuning is top-notch, with perfectly-balanced suspension for sportiness and comfort, along with an EV drivetrain with a power delivery that can surprisingly feel linear like an ICE-powered car.

The interior, as typical of BMW, is well-built and premium, though the reduction of physical controls is not something we welcome, especially in the mid-cycle facelift for the 2025 model year. There’s an optional xDrive AWD for the eDrive40, but this reduces its range to a little below 300 miles. Speaking of options, if you want your i4 to look as nice or as high-tech as it could get, you’ll have to tick several optional extras.

Pros

• Top-notch driving dynamics
• Premium interior
• Fastback tailgate increases practicality

Cons

• Swoopy styling limits rear headroom
• Lack of physical controls
• Packaging constraints of a shared platform

Polestar 2 Long Range RWD – 320 Miles

Starting MSRP: $49,900

The Polestar 2 has recently been given a comprehensive mid-cycle facelift. While the exterior updates are relatively mild, what’s underneath its sheet metal is a comprehensively updated electric drivetrain. The single-motor versions of the Polestar 2 used to be front-wheel drive (FWD), but it became RWD after the facelift. The output of the electric motor was increased to 299 horsepower and 361 pound-feet versus the 231 horses and 243 pound-feet it used to produce. Its EPA-estimated range also increased to 320 miles, making this one of the most affordable 300-mile electric cars currently on sale.

Performance Specifications

(Data was collected from Polestar)

There are, however, challenges for the Polestar 2. Financially, the Polestar brand for 2023 only experienced a break-even. With only one sedan being its volume seller at the moment (the Polestar 3 and Polestar 4 are yet to be sold in the United States), the Swedish electric automaker doesn’t yet have a volume seller in the crossover SUV segment–undoubtedly the hottest segment right now. This is further compounded by the fact that Tesla’s Model 3 practically owns the compact electric sedan segment. Even if the Polestar 2 is better than ever, it’ll need more than just a comprehensive update in order to steal the limelight from Tesla.

Pros

• Excellent range
• Well-built interior
• Top-notch Google-developed infotainment

Cons

• More expensive than Tesla Model 3
• Lack of physical controls inside
• Öhlins dampers are not a DIY job

Tesla Model 3 Long Range AWD – 341 Miles

Starting MSRP: $47,740

The Tesla Model 3 is the segment’s favorite when it comes to electric compact sedans. The Model 3 is so popular, partly because of the Tesla brand appeal, but also due to its excellent efficiency that leads to likewise excellent range, along with the most comprehensive charging infrastructure network in the United States. Unfortunately, the Model 3 Long Range AWD is no longer eligible for the $7,500 tax credit, with only the newly-released Model 3 Performance qualifying for the tax incentive.

Performance Specifications

(Data was collected from Tesla)

Even then, it still offers plenty of value at its price point. The improved refinement and handling, as well as the improved interior are welcome upgrades for the Model 3. The interior, however, as nice as it looks, isn’t on par with something like a BMW i4 or even the Polestar 2, and in some ways, the next vehicle on this list has better build quality.

Pros

• Extremely efficient
• One of the best-value EVs
• Improved handling and comfort

Cons

• Some cheap plastics
• Lack of physical controls
• No smartphone integration features

Hyundqi Ioniq 6 SE RWD – 361 Miles

Starting MSRP: $42,450

The high-coveted and award-winning Hyundai Ioniq 6 may be the most affordable electric sedan on this list, but that doesn’t mean it isn’t any good. In fact, it is better in some ways than the aforementioned Tesla Model 3 Long Range AWD. There’s the car’s 800-volt architecture that allows for DC fast charging speeds of up to 350 kW (assuming, of course, you could find a charger that fast), plus it also has bi-directional charging capabilities. With its vehicle-to-load (V2L) feature, the Ioniq 6 can act as an external power source, which is perfect for camping, powering your home if there’s a power outage, or even charging another EV (albeit at a slow pace).

Performance Specifications

(Data was collected from Hyundai)

Finally, let’s talk about the Ioniq 6’s looks. Its slippery shape, which gives it a drag coefficient of 0.21 Cd makes it one of the most aerodynamic sedans on sale, though the Model 3, at 0.219 Cd is still more aerodynamic. The retrofuturistic styling easily stands out, too. While looks are subjective, I’m one of the big fans of the Ioniq 6’s looks–if it had the nice 20-inch wheels. The 18-inch wheels are what’s fitted in the SE that you see here, which also allows it to have such a long EPA-estimated range of 361 miles. Still nice to look at in my opinion, but the 20-inch wheels just look so good in the Ioniq 6.

Pros

• Extremely efficient
• Ingenious 800-volt architecture
• Class-leading charging speeds

Cons

• Styling isn’t for everyone
• Missed opportunity for a fastback tailgate
• A few cheap interior materials