Top Cheapest Electric Cars And SUVs For 2024

The prevailing notion suggests that sustainable transportation must come with a hefty price tag. However, a growing number of EVs on the market today challenge this assumption head-on, proving that eco-conscious driving doesn’t have to break the bank. With their blend of practicality, efficiency, and affordability, the following 10 vehicles emerge as beacons of accessibility in the world of EV ownership.

While some cater to urban environments, others are built for long journeys. Many boast ample storage, catering to the needs of small families. Despite their budget-friendly nature, these vehicles don’t compromise on convenience, offering a range of modern features that provide drivers with enhanced peace of mind. By democratizing electric mobility and showcasing that eco-conscious driving can be both practical and affordable, these 10 most affordable EVs pave the way for a more sustainable future on the open road.

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 HotCars, and fueleconomy.gov. The Models below have been ranked based on their starting MSRP.

10 Hyundai IONIQ 5 SE Standard Range

MSRP: $41,800

The 2024 Hyundai Ioniq 5 SE Standard Range offers a compelling mixture of efficiency, technology, and comfort in the competitive electric SUV market. With a starting price of $41,800, it presents good value for those seeking an entry-level electric vehicle option.

Performance Specifications

Despite its modest performance figures compared to higher trims, such as a 0-60 time of 7.4 seconds and a range of 220 miles on a single charge, the Ioniq 5 SE Standard still provides a comfortable and tech-filled interior, along with the convenience of DC Fast Charging capabilities. Its sleek design and spacious cabin, coupled with Hyundai’s reputation for reliability and safety, make it an attractive choice for eco-conscious consumers looking to transition to electric vehicles without breaking the bank.

Pros

• Reclining front seats with footrests
• AR head-up display
• Appealing interior for the price point

Cons

• Mediocre cargo capacity
• Absence of wireless smartphone integration
• Lackluster performance

9 Volkswagen ID.4 Standard

MSRP: $39,735

The 2024 Volkswagen ID.4 Standard trim offers affordability, practicality, and advanced electric technology in one neat package. As Volkswagen’s entry-level electric car option in the USA, the ID.4 presents a compelling value proposition for eco-conscious drivers seeking a versatile crossover.

Built on Volkswagen’s all-electric MEB platform, the ID.4 boasts a spacious interior and ample cargo space, making it ideal for small families or daily commuters. With impressive sales records reflecting its growing popularity, the ID.4 stands as a formidable contender in the competitive electric vehicle market.

Performance Specifications

Despite its entry-level status, the ID.4 Standard trim doesn’t compromise on essential features. Dual-zone climate control, heated seats, and a digital instrument cluster come standard, ensuring comfort and convenience on every journey. Volkswagen’s commitment to safety is evident through comprehensive driver assistance features, including forward collision warning, automatic emergency braking, blind-spot monitoring, and adaptive cruise control.

With a range of new updates for the 2024 model year, including more powerful electric motors and an upgraded infotainment system, the ID.4 Standard trim remains a solid choice for budget-conscious drivers seeking an eco-friendly and practical electric vehicle option.

Pros

• Spacious interior
• Advanced driver assistance features
• Three-zone climate control

Cons

• Limited color options
• Lack of frunk space
• Bland wheel designs

8 Kia Niro EV Wind

MSRP: $39,600

The Kia Niro EV Wind trim offers a perfect entry point into the electric SUV market, combining affordability with impressive features and efficiency. With a starting price under $40,000, the Niro EV Wind is an accessible option for EV drivers. Its aesthetic exterior styling and spacious interior, boasting up to 63.7 cubic feet of storage space, enhance its appeal, offering both functionality and modern design elements.

Despite its affordability, the Niro EV Wind doesn’t compromise on technology, featuring a panoramic all-digital dashboard, wireless Apple CarPlay and Android Auto, and an available 10-inch head-up display, ensuring a connected and convenient driving experience.

Performance Specifications

While the Niro EV Wind excels in many areas, it does have some drawbacks to consider. Its acceleration might feel sluggish to some drivers, and it’s only available in a front-wheel drive configuration, limiting its versatility in challenging driving conditions.

Additionally, the charging time, especially with Level 1 charging, may pose an inconvenience for those who rely heavily on fast charging infrastructure. Despite these limitations, the Kia Niro EV Wind trim stands out as a compelling value proposition for drivers seeking an affordable, efficient, and feature-rich electric SUV.

Pros

• Eco-friendly materials
• Heated steering wheel and seats
• Complimentary charging credits

Cons

• Slow charging time
• Sluggish acceleration
• Limited availability in FWD

7 Fisker Ocean Sport

MSRP: $38,999

The 2024 Fisker Ocean Sport trim is the very essence of affordability, sustainability, and innovation, making it a compelling value proposition in the electric SUV market. Additionally, the Ocean Sport boasts a solar roof that adds free range, which is a nifty and unique little feature.

Despite the uncertainties surrounding the company’s financial stability, the Ocean Sport presents an attractive option for eco-conscious consumers seeking a unique driving experience. A couple of months back, Fisker had slashed the prices and the Ocean was available for as low as $24,999. However, at the time of writing this, the automaker has raised the price back to $38,999.

Performance Specifications

While the base model may lack the performance and range of its higher trims, it still offers impressive features such as a rotating infotainment center touchscreen and a panoramic sunroof. The interior is sustainably built with up to 50 kg of recycled materials, aligning with Fisker’s commitment to environmental responsibility. Despite concerns about long-term support in the event of company bankruptcy, the Fisker Ocean Sport presents a brilliant option for individuals willing to take a leap of faith in a relatively unknown automaker.

Pros

• Solar roof provides free range
• Up to 50kg of recycled materials inside
• ‘California Mode’ opens all windows at once

Cons

• Uncertainty surrounding Fisker’s financial stability
• Battery pack is unimpressive

6 Tesla Model 3 Rear-Wheel Drive

MSRP: $38,990

The Tesla Model 3 Rear-Wheel Drive base model, part of the 2024 ‘Highland’ refresh, offers an enticing blend of performance, range, and affordability, making it a standout choice in the electric vehicle market. Priced at $33,990, it provides 272 miles of range per charge, a top speed of 125 MPH, and accelerates from 0 to 60 MPH in 5.8 seconds.

Despite being the base trim, it boasts the same sleek exterior design and premium interior features as its higher-priced counterparts, thanks to the Highland upgrade, making it a compelling option for budget-conscious buyers who refuse to compromise on style and quality.

Performance Specifications

What makes the Rear-Wheel Drive Model 3 particularly appealing is its impressive performance on the road, with its single electric motor delivering 271 horsepower and 310 pound-feet of torque. Additionally, its rear-wheel-drive system promises excellent traction and responsiveness in various road conditions, making it a versatile choice for daily commuting and weekend adventures alike.

Pros

• Excellent performance for the price
• Efficiency over aesthetics
• Incorporation of fun ‘Tesla Easter Eggs’

Cons

• Limited paintwork options
• Minimalist interior
• Range anxiety potential

5 Hyundai IONIQ 6 SE Standard Range

MSRP: $37,500

The 2024 Hyundai Ioniq 6 SE Standard trim presents an enticing option for those seeking an affordable entry point into the world of electric vehicles. With its sleek design and impressive range, the SE Standard offers a compelling value proposition. Equipped with a single-motor rear-wheel drive setup, the SE Standard delivers a respectable 149 horsepower and 258 pound-feet of torque, providing ample power for daily driving needs.

Performance Specifications

In terms of range, the SE Standard offers up to 240 miles on a single charge. This decent range makes the Ioniq 6 a practical choice for both short commutes and longer road trips. Additionally, with Hyundai’s commitment to customer satisfaction and reliability, buyers can enjoy the peace of mind that comes with America’s best warranty, including coverage for the battery for 10 years or 100,000 miles.

Pros

• Two years of complimentary charging sessions
• Hyundai are an EV industry leader
• Front-seat footrests

Cons

• No folding rear seats
• Base trim is a little sluggish

4 Fiat 500e Inspi(RED)

MSRP: $32,500

The 2024 Fiat 500e emerges as a delightful and compelling option in the electric vehicle market, particularly for urban dwellers seeking an eco-friendly, budget-friendly, and charming ride. It epitomizes the concept of “small but mighty,” offering zippy performance and a surprisingly roomy interior. With its compact size and agile handling, navigating crowded city streets becomes a breeze, making it an ideal choice for urban commuters or as a second car for city errands. Despite its diminutive stature, the Fiat 500e boasts a respectable range of 149 miles, making it a practical choice for daily driving needs.

Performance Specifications

Its affordable price tag and potential incentives in regions like Canada further enhance its value proposition, making it an attractive option for those looking to embrace electric mobility without breaking the bank. In essence, the Fiat 500e stands out as a refreshing and practical alternative in the electric vehicle landscape, offering a perfect blend of style, efficiency, and affordability for today’s urban lifestyle.

Pros

• Charming design cues
• Surprisingly spacious cabin in the front
• Affordable urban commuter

Cons

• Little-to-no room in the back
• Lacks a battery preconditioning system
• Limited range

3 Hyundai Kona Electric SE

MSRP: $32,675

The 2024 Hyundai Kona Electric SE emerges with enhanced features over its predecessor. It’s a striking and good-looking car, and inside the reintroduction of physical buttons adds a welcomed touch of familiarity and convenience, ensuring easy access to essential functions without distracting from the road.

Performance Specifications

Additionally, the increased rear legroom and cargo space address previous criticisms, enhancing the Hyundai Kona Electric SE’s versatility for urban commuting and family outings. Despite some compromises in acceleration compared to its predecessor, the Kona Electric SE remains a strong contender in the EV market, catering to drivers seeking an eco-friendly and practical daily driver without sacrificing comfort or functionality.

Pros

• Flared fender optical illusion
• Robust physical buttons
• Plenty of rear legroom

Cons

• Questionable second-gen design
• Doesn’t hold the same spirit as previous version
• Allow wheel design not great

2 Mini Hardtop Cooper SE

MSRP: $30,900

The Mini Cooper SE Electric presents an enticing value proposition in the electric vehicle market. Combining Mini’s signature style with eco-conscious engineering, it offers a refreshing alternative for drivers seeking sustainability without sacrificing fun.

Despite its compact size, the Electric Mini Cooper SE packs a punch with its spirited acceleration and dynamic driving experience, making urban commuting a joyous affair. Priced competitively at just over $30,000 for the base model and featuring cool amenities like dual-zone climate control and wireless charging, it delivers excellent value for budget-conscious buyers.

Performance Specifications

Moreover, with the recent addition of the Resolute Edition, boasting unique styling elements like Rebel Green paint and enhanced features, the Mini Cooper SE Electric continues to stand out in the EV landscape, with a new and improved 2025 model teased and attracting attention already.

Pros

• Distinctive styling
• Ambient interior lighting
• One of the cheapest EVs available new

Cons

• Extremely low range capability
• Limited cargo space
• Fairly low DC Fast Charging speeds

1 Nissan Leaf S

MSRP: $28,140

The Nissan Leaf S trim could be great for first-time EV buyers looking for an affordable and practical electric vehicle. As one of the last remnants of the early EV craze, the Leaf has evolved into a reliable choice for urban commuters, offering a blend of efficiency, comfort, and affordability. With its compact size and estimated range of 149 miles, the Leaf S is well-suited for navigating city streets and shorter commutes without breaking the bank.

Performance Specifications

While it may lack some of the flashy features of its competitors, the Leaf S makes up for it with its excellent build quality, ample storage space, and straightforward technology. For budget-conscious buyers seeking an accessible entry point into the world of electric cars, the Nissan Leaf S trim stands out as a compelling value proposition.

Pros

• Practical urban commuter
• Ample storage space
• EV Carefree+ Package
• Cheapest new EV currently

Cons

• Disappointing interior
• Slow charging times
• Outdated charging type