10 Cheapest But Often Overlooked Electric Cars Available Today

The appetite for electric cars is rising as more models and brands are being produced worldwide. In recent years, what used to be a trivial segment of the automotive industry has grown into a juggernaut. In 2022 alone, more EVs rolled out of dealerships, with China and Europe driving the transition to automotive electrification, with EV sales making up 20 percent and 25 percent of their 2022 car sales, respectively.

Not only are electric cars kinder to the environment; some are budget-friendly. There are several inexpensive options available in the market that strike a balance between cost and utility. For anyone on a budget and about to take the plunge on their first electric car, here are the 10 most ignored but cheapest electric cars that won’t break your bank.

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10 Genesis GV60

Starting MSRP: $59,290

Kicking off this list is the 2023 Genesis GV60, which starts at $59,290. While it lands at the upper end of affordable electric vehicles, it delivers a premium driving experience that rivals luxury EVs costing much more. As the first dedicated electric model from Hyundai’s luxury marque Genesis brand, the GV60 pairs sporty performance with high-tech features in a stylish, compact SUV body.

At its core is an expertly tuned chassis and a choice of two electric drivetrains. The base Advanced AWD model utilizes a dual-motor, all-wheel-drive layout producing 314 horsepower and 446 pound-feet of torque, allowing the GV60 to sprint from 0-60 mph in just 4.5 seconds.

Specs and Performance

(Specs sourced from Genesis)

Around town, the GV60 engages with quick, direct steering and agile reflexes when cornering and delivers a maximum range of around 250 miles per charge – not class-leading, but enough for most commutes. With 350 kW fast charging, you can replenish the battery from 10 to 80 percent in 18 minutes. Overall, the 2023 Genesis GV60 makes a compelling case as a premium electric SUV without the typical luxury price tag.

9 Volvo C40 Recharge

Starting MSRP: $55,300

The Volvo C40 Recharge is an all-electric vehicle that provides a variety of capabilities and features from $55,300. While the crossover has seen major updates since 2022, it still hasn’t captured much attention. Initially, the C40 featured a single electric motor on the front axle for front-wheel-drive, but now there exists the top-of-the-line Recharge twin with two electric motors. Combined, they churn out a whopping 408 horsepower and 487 pound-feet of torque, allowing the C40 Recharge to accelerate from 0 to 60 mph in just 7.3 seconds, on to a limited 180 km/h top speed.

Specs and Performance

(Specs sourced from Volvo)

A 78-kWh battery in the twin variant provides a range of 261 miles, with an average consumption of 33 kWh/100 miles. It also takes 40 minutes to recharge the battery to 80 percent with 150kW DC charging. The C40 Recharge interior features a modern infotainment system, clever storage solutions, plenty of room, and chic materials and finishes.

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8 Polestar 2

Starting MSRP: $49,800

If you are looking for a luxury electric vehicle with a family-friendly capability and refined interior, you won’t find many options better than the Polestar 2. With a base MSRP of $48,400, this sleek EV has more to offer than its price tag, including solid performance, a lively powertrain, an easier-to-use infotainment system, a luxurious and spacious interior for a family of four and their luggage.

Specs and Performance

(Specs sourced from Polestar)

The 2023 Polestar 2 has two configurations: single and dual motor. The single motor has one electric motor that drives the front wheels and produces 231 horsepower, while the dual motor features two electric motors that send a combined 408 horsepower and 487 pound-feet of torque to the front and rear wheels for lively performance. This improves the vehicle’s traction, propelling it from 0-60 mph in 4.5 seconds.

The Polestar 2 Single Motor can deliver a maximum range of 270 miles per charge, while the dual motor has a maximum range of 260 miles. Both models feature a 78-kWh battery pack that takes as little as 28 minutes to charge.

7 Nissan Ariya

Starting MSRP: $43,190

The Nissan Ariya is not only cheap, but it’s an even more impressive accomplishment when you consider the vehicles on this list alone. The base model boasts a battery range that exceeds 220 miles, making it ideal for daily use, and rides comfortably enough to surprise you with its nimbleness upon entering a bend.

The Ariya has a 66 kWh battery pack with two configurations: a single motor that yields 214 horsepower and a dual motor Platinum+ trim that produces 389 horsepower to the front and rear wheels. This allows the Nissan Ariya to accelerate from 0-60 mph in 4.8 seconds, making it competitive with the likes of the Nissan Z.

Specs and Performance

(Specs sourced from Nissan)

Inside, the cabin boasts a sense of elegance that’s fairly unusual for a Nissan, with soft-touch and wood trim materials all around.

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6 Toyota bZ4X

Starting MSRP: $42,000

The bZ4Xl is built on the new e-TNGA platform made solely for Toyota electric cars and features a modern and sleek design, with an athletic stance and smooth lines that give it an unmistakable look. It also has the advantage of being cheap, so you can get one at $42,000.

This vehicle features FWD and AWD and an electric powertrain that delivers a maximum of 201 and 215 horsepower to the drive. Besides, it has a driving range of up to 252 miles per charge. On the track, the dual-motor version can accelerate from 0-60 mph in 6.4 seconds.

Specs and Performance

(Specs sourced from Toyota)

The powertrain has a lithium-ion battery unit with 71.4 kWh capacity and takes nine hours to replenish using a level 2 supply and a 6.6 kW charger. According to Toyota, it takes about 30 minutes for a 150 kW DC Charger to add 80 percent charge to the battery.

5 Volkswagen ID.4

Starting MSRP: $37,495

With a starting price of $37,495, the Volkswagen ID.4 has a lot to offer, from a relaxed demeanor and good looks to plenty of space for passengers and luggage. A single motor with rear-wheel-drive, 201 horsepower, and 229 pound-feet of torque power the base models, which have a maximum estimated range of 275 miles.

A 330 horsepower with dual motor is also available at its core with a sizable 77kWh battery and significantly improved performance but at the cost of some range. The base model includes a small 58 kWh battery you can charge with a DC fast charger.

Specs and Performance

(Specs sourced from Volkswagen)

The rear-wheel-drive takes 7.6 seconds to accelerate from 0-60 mph, while the all-powerful dual motor AWD sharpens the EV’s performance with an accelerating time of 5.4 seconds to 60 mph.

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4 Mazda MX-30

Starting MSRP: $34,110

With a starting price of $34,110, the Mazda MX-30 is among the cheapest electric cars today. While its sporty design, quality interior, and fun handling set it apart from the rivals in the Mazda’s lineup, gearheads have criticized it for being hopeless at covering distance.

The MX-30 features a 35.5 kWh battery pack with a maximum range of 124 miles and one electric motor that produces 143 horsepower and 195 pound-feet of torque to the front wheels. It takes about 30 minutes to achieve a 10 – 80 percent charge via 40 kW DC charging.

Specs and Performance

(Specs sourced from Mazda)

Redeeming features include a futuristic and minimal interior, with a smooth dashboard that prioritizes a sleek appearance to match the exterior design, driver assistance technology, reverse-opening rear doors, soft door card trims made from recycled plastic bottles, and wooden trim on the center console.

3 Hyundai Kona Electric

Starting MSRP: $33,550

In 2022, Hyundai made an update for the Kona Electric Vehicle with standard heated front seats and a new base trim while maintaining a starting budget price of $33,550. The Kona EV features a 64 kWh battery and a 150 kW electric motor that produces 201 horsepower and 295 pound-feet of torque, good for accelerating the vehicle from 0-60 mph in 6.7 seconds. Its deft handling and strong drivetrain also make it fun to drive alongside standard features and deliver a range of around 250 miles on a full charge.

Specs and Performance

(Specs sourced from Hyundai)

The Kona Electric’s battery can charge to 80 percent in about 40 to 60 minutes with a DC Fast-Charger, depending on the charger’s capabilities. Also, the cabin is pleasant enough, but the vehicle lacks much cargo space.

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2 Mini Electric Hardtop

Starting MSRP: $30,900

The Mini Electric Hardtop might be the perfect electric vehicle if you want something that’s budget-friendly and feels as good as it looks. It offers value for your money, with a starting price of about $30,900, impressive interior quality, and a range of standard features.

Specs and Performance

(Specs sourced from Mini)

It has a 28.9 kWh lithium-ion battery and a 135 kW electric motor that combine to produce 181 horsepower and 199 pound-feet of torque to the front wheels. However, the Mini Electric Hardtop has an acceleration time of 6.9 seconds from 0-60 mph and can only manage up to 114 miles on charge, which is relatively lower than almost all other electric vehicles. Just like the Mazda MX-30, the Mini Electric Hardtop might not be ideal for freeway driving or long trips.

1 Nissan Leaf S

Starting MSRP: $28,140

The Nissan Leaf paved the way for the current onslaught of electric vehicles as the first mass-market electric car in the world. As a practical and affordable hatchback, the Nissan Leaf S maintains the affordability of electric mobility. It boasts a 40kWh battery with an estimated range of up to 149 miles and an electric motor that produces 150 horsepower and 236 pound-feet of torque. This allows a snappy acceleration from 0-60 mph in 7.4 seconds.

Specs and Performance

(Specs sourced from Nissan)

Inside, the cabin is spacious with supportive seats and an easy-to-use infotainment system. If you are looking for an affordable EV among the cheapest electric cars for typically short distances, you are better off with the Leaf S.