Electric cars and trucks have finally hit the mainstream, with dozens of electric vehicles coming out over the next few years. Which EVs in 2022 and 2023 are affordable for the average buyer?
Many of these EVs are brand new this year, but with inflation rising at historic levels, we want to make sure the price tag matches the excitement at getting a world-changing EV. Here are the most affordable electric passenger cars and trucks coming out in 2022 and 2023.
Chevy Bolt EV
The Chevy Bolt takes the prize as most affordable electric car for 2023 at $27,590. GM cut the price of this popular EV to make it more affordable than the Nissan LEAF. Now it holds the spot of cheapest electric car on the market for the coming year. With lots of competition coming from all established automakers, switching their lines over to electric and plenty of new car companies creating unique EVs, don’t expect that to last long, but it’s a great price for an all-electric vehicle.
Nissan LEAF EV
The Nissan LEAF has a sleeker four-door hatch look these days, and now has two battery sizes for different range options. The smaller 40 kilowatt-hour battery pack only comes to $28,425 for the lower-range option of this popular EV that has now been around over 10 years. Since its initial release in December of 2010, over half a million LEAFs have been sold in Europe, U.S. and Japan.
Chevy Bolt EUV
The Chevy Bolt no longer qualifies for federal tax credits, but GM cut the price on this electric car as well for 2023 models, and that makes it super affordable at $29,190. It has 247 miles of driving range, which is slightly less than the Bolt EV. That’s because it’s slightly bigger, with a small crossover look that’s a blend between four-door passenger hatchback and full crossover CUV. We love the practicality of this vehicle, as many drivers need something bigger than a small EV passenger car to tote kids, gear or dogs and groceries, but don’t want to bust their budget.
Available only in California, the slightly strange Mazda MX-30 has half doors for the rear seats and comes with a modest 100-mile range. It’s not bad looking, though, and would make a fantastic commuter car for a single person. It comes in at $34,695 and qualifies for a federal tax credit of $7,500, which makes it fit plenty of commutes and budgets. If you happen to like those rear half doors and sporty front end, the Mazda is an EV you’ll love to show off to friends as it doesn’t look quite like a daily driver.
Mini Cooper SE
The Mini Cooper SE EV is indistinguishable from a combustion engine Mini Cooper from the outside, so it’s a great option for drivers who want to go electric while keeping it low key. It costs $35,075, but offers just a 110-mile range, which will work for shorter commutes and might not please the zoom-zoom crowd, but nonetheless has accumulated customers. Still, if you want to go all-electric with gas prices hitting $6 per gallon and the planet warming by the day, the Mini Cooper SE is a sporty EV that will get you where you’re going each day in a package that makes no compromises on style. This one also qualifies for a tax credit to bring the price down.
Hyundai Kona Electric
You might skip a Hyundai electric car just because the EV landscape is suddenly so crowded, but the Hyundai Kona Electric costs $35,295. However, it offers a much higher range than similar competitors at 258 miles of range. It’s also a great driver with 201 horsepower, which is a moderate, but more than adequate amount for its compact size. Best of all, it qualifies for a tax credit of $7,500. While many EVs still force a choice between price, range, driving capability and/or style, the Hyundai Kona actually checks most boxes and could probably outperform what most people are driving now.
Hyundai Ioniq 5
Think Hyundai is all about daily drivers? Think again. The Ioniq 5 is an EV that comes with sporty rear-wheel drive and 220 miles of range. There is a long-range version with 303 miles of range that starts at $45,295. These vehicles also qualify for a federal tax credit, and are one of the best options driving performance-wise to fill out the lower middle of the price bracket for EVs in 2023.
Ford F150 Lightning
Ford’s iconic F150 pickup truck is coming in an EV version in 2023, and we could not be more excited. Many U.S. drivers have held off on EVs simply because they need to haul more work gear, live on back roads that need a tougher suspension, or have grown used to larger vehicles. The F150 solves all those problems. In 2023, it will come with a range of 230 miles for the lower end model and 300 miles and a whopping 563 horsepower for the extended range battery edition. Prices start at $41,769. Like any truck, watch the add-ons, or you won’t be in that price range long. Orders are closed for 2022 because this popular truck is already sold out in EV form, but you can get on the waitlist or wait until next year.
Ford Mustang Mach-E
Honorable mention goes to the Ford Mustang Mach-E crossover, which is a sleek and stylish EV that can haul your family around for just $44,995 to start. Bookings are closed on this one for 2022 on this vehicle as well, but you can get a $7,500 federal tax credit on one if you can find one on a dealer lot. We have seen this EV many places in public as it’s already extremely popular, and it looks better than its photos somehow.
At $46,220, Subaru clocks in kind of at the high end of what you could consider affordable for a passenger EV, but we shouldn’t leave out the Solterra. It’s basically a Toyota BZ4X with a Subaru badge, but we mention this car instead of the BZ4X because it comes with all-wheel drive, another feature missing from many EVs that Subaru owners will find must have. Subaru also has plenty of federal tax credits to give out, while Toyota is running out. If you want a capable driver with all-wheel drive, this is the one to beat.
2023 a Banner Year for EVs
Don’t see a car on this list that meets your needs or budget? Just hang on another year or two. The automotive industry is in a change over to electric over the next five to 10 years, and soon everything will be available in electric. The year of the electric car is finally here. If gas prices have got you struggling, or you can put out a few extra dollars for an EV, now is the best time in history to buy an electric car.
Images via Chevy, Mazda, Hyundai and Ford