The market for affordable electric vehicles continues to grow and improve, with a number of new models now available for under $40,000.
Many entry-level EVs are seeing reductions in price (before accounting for tax incentives), even as traditional internal combustion engine (ICE) vehicles become more expensive.
Advancements in technology and streamlined supply chains play a significant role in these price reductions, though the drive to attract consumers appears to be the biggest factor.
Notably, Tesla is absent from this list, as it has been significantly undercut by offerings from “legacy” automakers, with options like the Equinox EV gaining popularity and contributing to Tesla’s sales decline. For a comprehensive look, this list also includes crossover SUVs.
10. 2025 Volkswagen ID4 | $41,760 (MT est.)
The 2025 Volkswagen ID4 brings a host of meaningful updates that enhance its usability compared to previous iterations of VW’s entry-level electric vehicle for the U.S. market.
Notable improvements include redesigned switchgear and infotainment controls, addressing key complaints about earlier models.
Additionally, for 2024, the ID4 saw a boost in power for versions equipped with the 82-kWh battery—offering up to 282 horsepower for the rear-wheel-drive model and 330 horsepower for the all-wheel-drive variant.
For 2025, all trims feature a larger 12.9-inch touchscreen. Core advantages of the ID4 remain, such as its comfortable interior, smooth ride, and ease of driving.
9. 2025 Nissan Ariya | $41,500 (MT est.)
The 2025 Nissan Ariya impresses with its spacious and premium-feeling interior, delivering excellent value for its price point. Its exterior design is also attractive, catering to buyers who prioritize comfort and practicality over raw performance.
While the Ariya feels quick compared to ICE crossovers, it struggles to keep pace with its EV peers in terms of acceleration and technology.
The lack of one-pedal driving and a slow charging rate are notable downsides, and although its range is decent, it falls short of being class-leading. However, the upscale interior makes it a strong choice for budget-conscious buyers who prioritize comfort and design.
8. 2025 Kia Niro EV | $40,600 (MT est.)
The 2025 Kia Niro EV is a stylish and practical compact electric hatchback that offers a good set of standard features and ample interior space.
However, in a market full of competitive options, it struggles to stand out.
Priced in the low $40,000 range, the Niro EV’s drawbacks include slower charging speeds—its 85-kW peak charging rate is significantly lower than that of most competitors—and less engaging handling.
While it represents a noticeable improvement over the previous generation in key areas, the changes aren’t enough to elevate it above its rivals.
Despite its appealing design and spacious cabin, it remains a middling value proposition compared to other budget-friendly EVs.
7. 2025 Hyundai Ioniq 6 | $38,900
The 2025 Hyundai Ioniq 6 features a streamlined design reminiscent of the curves seen in early Porsche and Volkswagen vehicles, giving it a retro-futuristic appeal.
While the style may be divisive, it achieves excellent aerodynamic efficiency with a 0.22 drag coefficient, aiding both performance and range.
The Standard Range model, priced under $40,000, comes equipped with a 149-horsepower motor and a 53-kWh battery, delivering an EPA-estimated range of 240 miles.
In contrast, higher trims with a 77.4-kWh battery extend the range to an impressive 342 miles.
The interior boasts generous legroom but uses low-cost materials and offers limited cargo space compared to its competitors.
Despite these drawbacks, the Ioniq 6 surpasses the Tesla Model 3 in ride comfort and demonstrates unexpectedly agile handling.
6. 2025 Volvo EX30 | $36,145
Arriving in 2024, the 2025 Volvo EX30 is set to be one of the most affordable EVs from a European brand. This compact electric SUV combines Volvo’s iconic design elements with a price that makes it accessible.
The base model offers an estimated range of 275 miles, while the Twin Motor Performance version will be the fastest Volvo ever on American roads, accelerating from 0 to 60 mph in just 3.4 seconds.
Practicality is enhanced by fold-flat rear seats, although the minimalist interior may prioritize aesthetics over user-friendliness.
5. 2025 Chevrolet Equinox EV | $34,995
The 2025 Chevrolet Equinox EV emerges as one of the most affordable electric vehicles from General Motors, succeeding the Bolt EV and EUV models, which are set to return soon.
Built on GM’s advanced EV platform (formerly called Ultium), the Equinox EV combines affordability with futuristic styling.
Features such as a head-up display, Super Cruise ADAS, and a 17.7-inch infotainment screen are available but can drive up the price.
The base front-wheel-drive model, offering over 300 miles of range, is one of the few EVs under $40,000 with such capability, although it exceeds the range of all-wheel-drive versions.
4. 2025 Fiat 500e | $34,345 (MT est.)
In a surprising turn of events, the Fiat 500e is making a comeback for 2025. However, this seemingly affordable electric vehicle has limitations across the board, including range, power, interior space, and performance.
Fiat estimates the EPA-rated range at 149 miles. Despite its modest specifications, which are below the EV industry average, the 500e offers a high fun factor.
This compact electric hatchback maneuvers effortlessly through urban streets, evoking the agility and excitement of a hot hatch. Its distinct personality may appeal to buyers who prioritize character over specifications.
3. 2025 Hyundai Kona Electric | $34,010
The 2025 Hyundai Kona Electric combines stylish design, a practical layout, and an attractive price, making it a solid choice for budget-conscious EV buyers.
This front-wheel-drive subcompact SUV also includes vehicle-to-load functionality, allowing its traction battery to double as a home backup power source.
It offers decent cargo space for its class, though its base version provides only 200 miles of range. Opting for the Long Range battery pack increases this to 261 miles.
While the Kona’s SUV-like design suggests versatility, its lack of all-wheel drive positions it more as a tall hatchback than a true crossover.
2. 2025 Mini Cooper Electric | $33,050 (MT est.)
The 2025 Mini Cooper Electric represents a serious effort by Mini to expand its EV lineup. Known for its iconic design and engaging driving dynamics, the new Cooper E and Cooper SE bring more to the table than the previous-generation Mini Cooper SE, which struggled to gain traction.
Both trims maintain the classic front-wheel-drive layout, with the base E delivering 184 hp and 214 lb-ft of torque, while the SE boosts those figures to 218 hp and 243 lb-ft.
However, the John Cooper Works version of the Cooper Electric disappointingly offers only cosmetic upgrades rather than performance enhancements.
1. 2025 Nissan Leaf | $29,280
As one of the most affordable EVs on the U.S. market, the 2025 Nissan Leaf remains a budget-friendly option. While it doesn’t boast cutting-edge features or extended range, it provides excellent value for its price.
The base model offers 149 miles of range, with the option to upgrade to a larger battery for up to 214 miles.
However, the Leaf’s CHAdeMO DC fast charging standard is becoming obsolete as the U.S. transitions to Tesla’s NACS format. Still, for buyers focused on daily commuting and home charging, this limitation is unlikely to be a major concern.