The Most Affordable Electric Cars on the Market

Although EVs have gained popularity in recent years, the high initial cost of many models still needs to be improved for people considering purchasing one. The Tesla Model 3, for example, starts at $45,940, which is out of reach for many potential buyers.

However, with manufacturers such as Nissan and Tesla creating more affordable options and growing availability of EVs on the market, it's now possible to buy an electric vehicle for less than $35k.

These budget EVs may not have all the features of their higher-end counterparts, but they still offer impressive specs, including a decent driving range, quick charging times, and a stylish exterior. So if you're looking for a low-emissions car without breaking the bank, plenty of electric vehicles are now available that are great value for money.

How Do Electric Vehicles Work?

Gas-powered vehicles use a spark-ignited internal combustion engine to propel motion, whereas electric cars rely on an electric motor powered by a battery. Charging the battery requires plugging it into an outlet or station.

With one or more motors driving power to either the front/rear axles (single) or both axles at once (AWD), EVs are known for efficient energy production and usage compared with their gas counterparts.

Top 8 Electric Vehicles Under $35,000

For those looking for a more affordable way to enter the electric vehicle market, several competent vehicles are now available for less than $35,000. These EVs combine stylish looks, great range, and convenience features within an attractive price point.

Here, we look at what's available and what sets these vehicles apart.

1. Mazda MX-30 EV

The 2022 Mazda MX-30 EV is an affordable entry into electric vehicles. It has a driving range of just 100 miles and takes 36 minutes to charge to 80% on a Level 3 charger, but this makes it perfect for urban commuting and errands rather than for long road trips. In addition, its sporty design stands out from other EVs' clean lines and has a unique exterior.

The base model starts at $33,470, but you can upgrade to the Premium Plus variant for added features such as a premium sound system and 360-degree view monitor for an extra $2,010. So if you're looking for an EV that won't break the bank and still offers excellent value for money, then the Mazda MX-30 EV is worth checking out.

2. Hyundai Ioniq 5

Hyundai's 2022 Ioniq 5 is an excellent addition to its EV lineup, providing an exciting, smooth ride with its advanced powertrain technology and a futuristic design. The basic model comes with ultra-fast charging and an estimated driving range of 269 miles—ideal for short trips or long commutes.

Although it has a starting MSRP of $39,700 that may exceed some budgets, it may also qualify for federal tax credits of up to $7,500, which can help offset the purchase price.

Families looking to switch to electric vehicles will find the spacious interior of the Ioniq 5 to be a perfect fit. With competitive features and an innovative design, the Ioniq 5 is worth considering if you're in the market for an EV with superior performance at a reasonable price.

3. Mini Cooper Electric SE Hardtop 2-Door

The 2022 Mini Cooper Electric Hardtop delivers an exciting and fun driving experience you will never forget. Its features include redesigned front and back grilles, improved interior ambient lighting, and a sleek dashboard design.

Although there are better choices for long drives due to its estimated driving range of 114 miles, the Electric Hardtop is perfect for city driving. In addition, it comes in at an affordable MSRP of $29,900.

4. Chevrolet Bolt

The 2022 Bolt is a fully-electric vehicle introduced in 2016 as an affordable alternative to gas vehicles. It has been redesigned to keep up with the growing EV market and features improved interior and exterior styling. This compact SUV offers a surprisingly spacious interior and a competitive 259-mile estimated driving range, making it great for short trips or long commutes.

While it doesn't have AWD capabilities like others, the 2021 model has a significantly reduced MSRP from previous years, starting at just $31,500.

5. Volkswagen ID.4

Volkswagen's 2022 ID.4 is a bright and smooth ride for the EV market, available in both 2WD and AWD. It has the classic perky lines of Volkswagen vehicles on the exterior, providing a spacious cabin and cargo room.

The dashboard and infotainment are entirely digital, featuring auto-hold braking, faster charging speeds, and an improved estimated driving range of 260 miles. Although its base MSRP may seem high at $40,760, eligible buyers could get their price as low as $33,260 after federal tax credits.

6. Hyundai Kona Electric

The 2022 Hyundai Kona Electric provides a powerful and efficient ride, offering an alternative to the Hyundai Ioniq 5 with its combination of SUV capability and electric motor technology.

Taking similarities from the gas-powered Hyundai Kona in terms of design, this affordable SUV offers good value at a starting MSRP of $34,000 with updated exterior styling for both the front and rear. Plus, the estimated driving range of 258 miles makes it a highly competitive option among affordable and entry-level EVs.

7. Nissan Leaf

The Nissan Leaf has been a prominent electric vehicle for years, gaining recognition before Tesla became popular. In 2021, the Nissan Leaf underwent a significant MSRP drop, starting at just $27,400 for the 2022 model. Also, if you opt for the upgraded Nissan Leaf Plus for only $32,400, you can gain a bigger battery capacity from 42 kWh to 62 kWh and an extended driving range from 149 to 226 miles.

8. Chevrolet Bolt EUV

The Chevrolet EV lineup is now home to the all-new 2022 Bolt EUV, inspired by the original Chevrolet Bolt. However, unlike the compact hatchback-SUV crossover design of the Bolt, the Bolt EUV is a larger SUV with improved cabin space and added ruggedness.

This model has a longer estimated driving range of 247 miles and modern high-tech features like hands-free driver assistance for added convenience.

Go Electric Without Breaking the Bank

Electric vehicles are becoming increasingly accessible, with a growing number of models available for under $35,000. These affordable options provide a more sustainable and cost-effective mode of transportation while still delivering impressive power and efficiency. The rise of budget-friendly EVs is a clear sign that electric mobility is no longer a niche market but a viable option for all consumers.

Brian Alba, Editorial Staff

Brian's passion for writing drives him to create informative and thought-provoking content. He aims to inspire and educate readers with his work. He is committed to perfecting his craft and pushing the limits of what can be achieved with writing.