The 11 Best Electric Vehicles Under $40,000 For 2023

Rate this post

Are you considering buying an electric vehicle but concerned about finding the right one within your budget? We have curated a list of the 11 best electric vehicles under $40,000, ensuring you get the best value for your money.

Ready to make the switch to a more environmentally-friendly and cost-effective option? Choose from our carefully selected list of electric vehicles under $40,000 and experience the future of driving today.

1. Chevrolet Bolt EV – $27,495

Chevrolet Bolt EV
Chevrolet Bolt EV

Price and Performance: The 2023 Chevrolet Bolt EV, starting at just $27,495, offers an exceptional driving experience with its 200 horsepower and 266 pound-feet of torque powertrain.

TrimPrices
1LT FWD$27,495
2LT FWD$30,695

Electrifying Powertrain: With a robust 65 kWh battery, the Bolt EV delivers an impressive range of 259 miles on a full charge. You can now drive for longer distances without compromising on power and range anxiety.

Fast Charging Made Easy: The Bolt EV is equipped with DC fast charging, allowing you to recharge the battery whenever needed quickly. Getting back on the road is now easier than ever.

Spacious and Versatile: A spacious and versatile interior awaits you inside the Bolt EV. With 16.6 cubic feet of cargo space, expandable to a whopping 57 cubic feet with the rear seats folded, you’ll have plenty of room for all your gear and groceries.

Tech at Your Fingertips: Stay connected and entertained with the Bolt EV’s 10.2-inch touchscreen. This advanced system has you covered whether it’s Apple CarPlay, Android Auto, or Wi-Fi connectivity. Seamlessly integrate your smartphone and enjoy a personalized driving experience.

Safety First: The Bolt EV is packed with advanced safety features to give you peace of mind on the road. Forward collision alert, lane keep assist, and a surround-view camera system are some of the available safety technologies that help you stay aware of your surroundings.

Unbeatable Value: Starting at just $27,495 after destination charges, the Chevrolet Bolt EV offers an incredible bang for your buck. Embrace eco-conscious driving without breaking the bank.

2. Nissan Leaf – $28,040

Nissan Leaf
Nissan Leaf

Price and Performance: The Nissan Leaf offers an impressive combination of power and efficiency, starting at just $28,040.

TrimsPrices
S$28,040
SV Plus$36,040

Electrifying Acceleration: With its 147-horsepower electric motor, the Leaf delivers instant torque for exhilarating acceleration. Experience the thrill of going from 0 to 60 mph in no time.

Efficient Design: The Leaf’s aerodynamic design and regenerative braking system work together to maximize energy conservation. Enjoy a longer driving range without compromising on performance.

Extended Range: Powered by a 40-kWh battery, the Leaf offers an impressive range of up to 212 miles on a full charge. Say goodbye to range anxiety and embrace longer commutes and weekend adventures.

Convenient Charging Options: The Leaf supports both standard and quick charging options. Get up to 80 percent battery charge in just 40 minutes with the quick charging option. Additionally, the vehicle is compatible with Level 1 and Level 2 home charging systems for convenient charging at home.

Versatile and Spacious: The Leaf’s hatchback design not only adds style but also provides versatile storage configurations. With ample cargo and interior space, comfortably accommodate five passengers and all their belongings.

Advanced Infotainment: Stay connected and entertained with the Leaf’s 8-inch touchscreen infotainment system. Access your favorite apps, music, and navigation with ease.

Enhanced Safety: The Leaf is equipped with advanced driver-assistance features to enhance your safety on the road. Drive with confidence knowing that features like lane departure warning and automatic emergency braking have your back.

Unbeatable Value: Starting at $28,040, the Nissan Leaf offers exceptional value for an electric vehicle. Experience the future of driving without breaking the bank.

Embrace the Leaf: Don’t miss out on the opportunity to own the Nissan Leaf. With its impressive performance, extended range, and affordable price, it’s a game-changer in the electric vehicle market. Take the leap into a greener future today!

3. Chevrolet Bolt EUV – $28,795

Chevrolet Bolt EUV
Chevrolet Bolt EUV

Price and Performance: The Chevrolet Bolt EUV, starting at approximately $28,795, is equipped with a 149 kW electric motor, delivering an impressive 200 horsepower and 266 pound-feet of torque. Experience exhilarating acceleration with a 0-60 mph time of just 7.0 seconds and a top speed of 93 mph.

TrimsPrices
LT FWD$28,795
LT Redline FWD$29,290
Premier FWD$33,295
Premier Redline FWD$33,790

Extended Range, Endless Possibilities: With a full charge, the Bolt EUV offers a remarkable total range of 247 miles. Say goodbye to range anxiety and embark on longer journeys with confidence. Additionally, the available DC fast-charging capability can add up to 95 miles of range in just 30 minutes, keeping you on the move.

Spaciousness Redefined: Step inside the Bolt EUV and be amazed by its surprisingly spacious cargo and interior cabin. With a cargo capacity that can be expanded to 56.9 cubic feet, you’ll have ample room for all your gear, groceries, and more. Embrace versatility without compromising on comfort.

Cutting-Edge Technology at Your Fingertips: The Bolt EUV is equipped with advanced tech features to enhance your driving experience. Enjoy the intuitive 10.2-inch touchscreen, providing seamless access to navigation, entertainment, and vehicle controls. With wireless charging, staying connected has never been easier. Additionally, the available panoramic sunroof lets you soak in the scenery and enjoy natural light.

Unbeatable Value: With a starting MSRP of around $28,795, the 2023 Chevrolet Bolt EUV offers an incredible combination of performance, range, and affordability.

Choose Your Trim: The Bolt EUV offers a range of trims to suit your preferences. From the LT FWD to the Premier Redline FWD, each trim level comes with its own unique features and style. Find the perfect fit for your needs and elevate your driving experience.

Embrace the Future: The Chevrolet Bolt EUV is more than just an electric vehicle; it’s a symbol of innovation and sustainability. Experience the thrill of electric driving while reducing your environmental impact. Drive the Bolt EUV and embrace a greener, brighter future.

4. Chevrolet Equinox EV – $30,000

Chevrolet Equinox EV
Chevrolet Equinox EV

Price and Performance: The Equinox EV is set to hit the market in 2024 with a competitive base MSRP of $30,000. Prepare to be impressed by its total power output of 290 horsepower, allowing for a swift 0-60 mph acceleration time of just six seconds.

TrimsPrices
1LT$30,000
2LT$34,000 (est.)
2RS$40,000 (est.)
3LT$37,000 (est.)
3RS$44,000 (est.)

Extended Driving Range: The base 1LT model of the Equinox EV offers a generous driving range of 250 miles on a full charge. For those seeking even more mileage, the 2LT, 2RS, 3LT, and 3RS trims are expected to provide an impressive range of 300 miles on a full battery.

Efficient and Sustainable: Emphasizing its commitment to efficiency, the Equinox EV features regenerative braking technology, enabling convenient one-pedal driving. This innovative system enhances energy conservation and maximizes the overall efficiency of the vehicle.

Convenient Charging Options: The Equinox EV can be easily charged at home using a Level 2 AC charger supporting speeds of 11.5 kW. With this charger, you can add up to 34 miles of range to the battery per hour of charging. For faster charging on the go, DC fast-charging stations can add up to 70 miles of range in just 10 minutes of charging time.

Unveiling the Trims: The Equinox EV comes in various trims to suit different preferences and budgets. From the 1LT, starting at $30,000, to the higher-tier 2LT, 2RS, 3LT, and 3RS trims, each offers its own unique features and performance enhancements. Choose the trim that best suits your needs and elevate your electric driving experience.

A Glimpse into the Future: The Equinox EV is not just an electric vehicle; it represents Chevrolet’s commitment to sustainable and innovative transportation solutions. Experience the power of electricity and embrace a greener future.

5. 2024 Fiat 500e – $30,000

2024 Fiat 500e
2024 Fiat 500e

A Fresh Start: After a hiatus from the U.S. market since 2019, Fiat is making a comeback with the reintroduction of the 500 city car in electric 500e guise for the 2024 model year. The two-door hatchback will captivate with its retro-modern appeal, updated exterior, and upgraded interior.

Electrifying Performance: Powered by a 117-hp electric motor, the 500e offers spirited performance and quick acceleration. The motor draws power from a 32.3-kWh battery pack, providing an estimated driving range of up to 199 miles per charge in Europe.

U.S. Testing: When the EPA conducts testing for the American market, we expect the driving range estimate to be slightly adjusted. However, the 500e’s electric capabilities are poised to impress with its range and efficiency.

Enhanced Interior: Step inside the new 500e and experience a significant improvement in interior materials compared to the previous-generation model. The cabin exudes a more upscale feel, with a focus on reducing the plasticky elements of its predecessor.

Advanced Infotainment: The 2024 500e will likely feature a large 10.3-inch touchscreen infotainment system, running the Uconnect 5 software interface. Stay connected with wireless Apple CarPlay and Android Auto compatibility, while enjoying a user-friendly and intuitive infotainment experience.

Pricing and Trims: The exact trim levels and pricing for the 2024 500e have yet to be revealed. However, we anticipate an entry-level Pop trim and a stylish Sport trim, aligning with the trim options offered for the 500X SUV. Stay tuned for updates on pricing and standard features.

TrimPrices
Pop$30,000
Sport$40,000

Driving Impressions to Come: While specific performance details for the U.S. version are yet to be confirmed, the new 500e is expected to deliver similar performance to its European counterpart. We look forward to taking the 500e for a test drive and updating this story with our driving impressions.

Range and Charging: In other markets, the 500e offers different battery pack options. The larger battery pack provides up to 199 miles of driving range based on European WLTP cycle estimates. However, real-world driving conditions may result in a lower range. For the U.S. variant, an EPA range closer to 150 miles per charge is expected if the same battery pack is offered.

Stylish and Spacious: The new 500e retains its iconic shape and size, while the interior receives a contemporary upgrade. Fiat showcases fashionable concepts at auto shows, demonstrating the potential for increased style. There will probably be hatchback and convertible versions, with the convertible having a retractable fabric cover.

Infotainment and Connectivity: Expect the 500e to feature a large 10.3-inch infotainment touchscreen, offering modern software and enhanced connectivity compared to its predecessor. A digital gauge display will likely provide essential information, including speed and battery charge status. Wireless smartphone charging, in-dash navigation, and wireless Apple CarPlay and Android Auto integration are expected.

6. Mini Cooper SE – $30,900

Mini Cooper SE
Mini Cooper SE

Price and Performance: The Mini Cooper SE offers an affordable electric vehicle option, with pricing starting at approximately $30,900. While it may not be ideal for long road trips or large families, it provides a great solution for many drivers seeking efficiency and affordability.

TrimsPrices
Base trim$30,900
Signature trim$34,225
Iconic trim$36,700

Electrifying Power: Powered by a 135-kW electric motor, the Mini Cooper SE delivers an impressive 181 horsepower and 199 pound-feet of torque. Experience the thrill of quick acceleration, with a 0-60 mph time of just 6.9 seconds.

Suitable for Daily Driving: The Mini Cooper SE offers adequate efficiency for daily driving, with an estimated range of 114 miles on a full charge according to EPA ratings. This makes it a practical choice for commuting and running errands.

Impressive Charging Capabilities: Charging the Mini Cooper SE is a breeze. With DC fast charging at speeds of 50 kW, you can reach 80 percent charge in approximately 36 minutes, ensuring less downtime and more time on the road.

Infotainment and Convenience: Inside the Mini Cooper SE, you’ll find an 8.8-inch intuitive infotainment system that keeps you connected and entertained. Coupled with a digital instrument cluster, you have easy access to important vehicle information and a seamless driving experience.

Unveiling the Trims: The Mini Cooper SE comes in various trims to suit different preferences and budgets. Choose from the Base trim, starting at $30,900, the Signature trim at $34,225, or the Iconic trim priced at $36,700. Each trim offers its own unique features and enhancements.

Embrace Efficiency: The Mini Cooper SE is a testament to the brand’s commitment to sustainability and efficiency. Experience the joy of electric driving while minimizing your environmental impact.

7. Hyundai Kona Electric – $33,550

Hyundai Kona Electric
Hyundai Kona Electric

Price and Performance: The Hyundai Kona Electric starts at around $33,550, offering an excellent balance of price and performance. Equipped with a 150-kW electric motor, it delivers an impressive 201 horsepower and 291 pound-feet of torque.

TrimsPrices
SE$33,550
SEL$37,300
Limited$41,550

Extended Range: With its highly efficient battery system, the Kona Electric boasts a range of up to 258 miles on a full charge. Say goodbye to range anxiety and enjoy longer journeys with confidence.

Convenient Charging Options: The Kona Electric supports Level 3 DC fast-charging at speeds of 50 kW, enabling you to charge the battery from 10 to 80 percent in just over an hour. Additionally, it supports speeds of 100 kW, allowing you to replenish 10 to 80 percent of the battery in just 47 minutes. It’s never been simpler to charge an electric car.

Spacious and Versatile: The Kona Electric offers ample cargo space of up to 45.8 cubic feet with the rear seats folded down. Whether it’s groceries, luggage, or outdoor gear, you’ll have plenty of room to accommodate your needs.

Advanced Infotainment System: The higher SEL and Limited trims of the Kona Electric feature a 10.25-inch touchscreen navigation system. Enjoy seamless access to navigation, entertainment, and vehicle settings, enhancing your driving experience.

Unveiling the Trims: The Kona Electric is available in different trims to suit various preferences. Choose from the SE, starting at $33,550, the SEL priced at $37,300, or the Limited trim at $41,550. Every trim comes with a unique collection of features and improvements.

Embrace the Future: The Hyundai Kona Electric represents Hyundai’s dedication to innovative and eco-friendly driving solutions. Experience the power of electricity and reduce your carbon footprint without compromising on style or performance.

8. Mazda MX-30 – $34,110

Mazda MX-30
Mazda MX-30

Price and Performance: The Mazda MX-30 offers an attractive package with a starting price of $34,110. Powered by a modest 107 kW electric motor, it delivers a peak output of 143 horsepower and reaches a top speed of 87 mph.

TrimsPrices
Regular$34,110
Premium Plus$37,120

Impressive Efficiency: The MX-30 excels in efficiency, boasting one of the best ratings in the market. With regenerative braking and other energy-saving features, it achieves a combined energy efficiency rating of 92 MPGe, ensuring optimal energy conservation.

Unveiling the Trims: Choose from the Regular trim, starting at $34,110, or the Premium Plus trim priced at $37,120. Each trim offers its own set of features and enhancements, allowing you to tailor your MX-30 to your preferences.

Compact Battery, Practical Range: The MX-30 is equipped with a 35.5-kWh battery, providing a range of 100 miles on a full charge. While it may not offer the longest range, it remains suitable for daily commutes and shorter trips. The MX-30 supports DC fast charging, allowing you to recharge from 20 to 80 percent in just 36 minutes.

Safety at Its Core: Rated five stars by the NHTSA, the MX-30 prioritizes safety. It is equipped with excellent safety features and a comprehensive suite of driver-assistance systems, ensuring peace of mind on the road.

Stylish and Tech-Savvy Interior: Step inside the MX-30 and discover its well-designed interior. Enjoy an active driver’s display, a power sliding-glass moonroof, and an 8.8-inch center touchscreen display. The infotainment system supports Android Auto and Apple CarPlay compatibility, keeping you connected and entertained throughout your journeys.

9. Volkswagen ID.4 – $38,995

Volkswagen ID.4
Volkswagen ID.4

Price and Performance: The Volkswagen ID.4 offers an impressive electric motor setup. The rear-wheel drive configuration delivers 201 horsepower, while the all-wheel drive configuration ramps it up to 295 horsepower, providing instant torque for a quick 0-60 mph time of just 5.4 seconds.

TrimsPrices
Standard (RWD)$38,995
Pro (RWD)$43,995
Pro (AWD)$47,795
S (RWD)$43,995
Pro S (RWD)$48,995
Pro S (AWD)$52,795
Pro S Plus (RWD)$51,445
Pro S Plus (AWD)$55,245

Extended Range: The ID.4 is equipped with a battery that offers a substantial range of up to 275 miles on a full charge. Say goodbye to range anxiety and enjoy longer journeys without compromising on power or efficiency.

Convenient Charging Options: The ID.4 supports both AC and DC fast charging. With a DC fast charger, you can go from 10 to 80 percent charge in just 30-36 minutes, ensuring less downtime and more time on the road.

Unveiling the Trims: Choose from a range of trims to suit your preferences and budget. From the Standard (RWD) starting at $38,995 to the Pro S Plus (AWD) priced at $55,245, each trim level offers unique features and enhancements. Find the best option for your driving requirements.

Level 2 Charging: Utilize a Level 2 charger to fully charge the battery. Depending on the battery pack and trim level, the ID.4 can be fully charged in approximately six to seven and a half hours at 11 kW. Enjoy the convenience of overnight charging at home.

Comfortable Interior: Step inside ID.4 and experience its well-designed interior. Enjoy a heated steering wheel with easy-to-reach buttons and switches. The heated seats provide luxurious comfort, with the driver’s seat offering 12-way adjustable power controls, four-way lumbar massage, and a memory function. The 12-inch intuitive infotainment touchscreen keeps you connected and entertained on every journey.

Embrace the Future: The Volkswagen ID.4 represents the brand’s commitment to sustainable and innovative transportation. Experience the joy of electric driving without compromising on style, performance, or comfort.

10. Kia Niro EV – $39,550

Kia Niro EV
Kia Niro EV

Price and Performance: The Kia Niro EV is equipped with a 201-horsepower electric motor, delivering impressive acceleration with a 0-60 mph time of just 6.5 seconds.

TrimsPrices
Wind$39,550
Wave$44,550

Extended Range: Enjoy the freedom of electric driving with the Niro EV’s highly impressive range of 253 miles on a full charge. Say goodbye to range anxiety and embrace longer journeys with confidence.

Free Charging Credits: Upon purchase, the Niro EV comes with 500 kWh of charging credits on the Electrify America network. This generous offer translates to approximately 1,750 to 2,000 miles of free charging, making it even more enticing for eco-conscious drivers.

Unveiling the Trims: Choose from the Wind trim, starting at $39,550, or the Wave trim priced at $44,550. Each trim level offers its own set of features and enhancements, allowing you to personalize your Niro EV experience.

Spacious Storage: The Niro EV offers a generous 22.8 cubic feet of storage space, expandable to 63.7 cubic feet with the rear seats folded down. Whether it’s groceries, luggage, or outdoor gear, you’ll have ample room to accommodate your needs.

Advanced Infotainment System: Stay connected and entertained with the Niro EV’s 10.25-inch instrument display for the driver and a 10.25-inch infotainment screen. Enjoy seamless integration with Apple CarPlay and Android Auto compatibility, Sirius XM satellite radio, voice recognition, and a six-speaker audio system. Stay connected and enjoy your favorite entertainment on the go.

Embrace the Future: The Kia Niro EV represents Kia’s commitment to sustainable and innovative transportation. Experience the joy of electric driving without compromising on style, performance, or convenience.

11. Tesla Model 3 – $40,240

Tesla Model 3
Tesla Model 3

Price and Performance: The Tesla Model 3 is priced just above $40,000 and offers multiple powertrain options that deliver impressive performance. Experience exhilarating acceleration with a remarkable 0-60 mph time of 3.1 seconds.

TrimsPrices
Rear-wheel drive$40,240
Long range$47,240
Performance$53,240

Range Options: Choose from different range options to suit your needs. The rear-wheel-drive model provides a range of 272 miles on a full charge, while the long-range version offers an impressive 333 miles. For those seeking even more power and range, the performance version delivers 315 miles of electric driving freedom.

Convenient Charging: Tesla’s extensive Supercharger network enables fast and convenient charging. With Supercharging, you can add up to 170 miles of range in just about 18 minutes, ensuring less downtime and more time on the road.

Spacious Interior: The Model 3 offers ample interior space, comfortably accommodating five adults. With up to 23 cubic feet of total cargo capacity, you’ll have plenty of room for your belongings, whether it’s luggage, groceries, or outdoor gear.

Innovative Infotainment: Control and access most of the vehicle’s functions through the impressive 15-inch touchscreen display. Enjoy a seamless and intuitive user experience, putting control at your fingertips.

Safety First: Tesla prioritizes safety, and the Model 3 is no exception. It is equipped with advanced safety features and technologies like Autopilot, enhancing safety and providing peace of mind on the road.

– Embrace the Future of Driving: The Tesla Model 3 represents the forefront of electric vehicle innovation. Experience the thrill of high-performance driving, the convenience of fast charging, and the peace of mind that comes with advanced safety features.

Conclusion:

In the end,  if you’re in the market for an electric vehicle under $40,000, you’re in luck! We’ve curated a list of the 11 best options that combine price, performance, and efficiency. From the Tesla Model 3 to the Chevrolet Bolt EV, these electric vehicles offer an exciting range of features and capabilities.

Ready to embrace a greener and more cost-effective future? Choose from our carefully selected electric vehicles and experience the thrill of electric driving today. Whether you prioritize affordability, extended range, or advanced technology, there’s an electric vehicle on our list to suit your needs.

From the stylish and charming 2024 Fiat 500e to the impressive Tesla Model 3, each vehicle offers its unique set of advantages. Take advantage of the incredible value and performance of these electric vehicles, knowing that you’re making a positive impact on the environment.

With their range, charging capabilities, spacious interiors, and advanced infotainment systems, these electric vehicles are ready to revolutionize your driving experience. Say goodbye to traditional fuel-powered vehicles and embrace the future of transportation.

Choose an electric vehicle from our list and be part of the sustainable driving movement. Enjoy the benefits of lower emissions, reduced operating costs, and a more connected and innovative driving experience. The 11 best electric vehicles under $40,000 await you!

The Top Upcoming New Electric Cars In the U.S. For 2023

FAQs:

Which electric car holds its value best?

The Tesla Model 3 is renowned for holding its value exceptionally well in the electric car market. According to Kelley Blue Book, it retains around 69% of its value after three years, making it a standout choice for those concerned about resale value. The Model 3’s combination of Tesla’s brand reputation, extensive charging infrastructure, and innovative technology all contribute to its impressive retention of value over time.

What is the number 1 EV brand?

When it comes to electric vehicles, Tesla stands as the undisputed number 1 EV brand. In 2022, Tesla accounted for a staggering 65% of total EV sales in the United States, solidifying its dominance in the market. While other automakers such as Ford, Hyundai, and GM are making strides to catch up, Tesla’s innovative technology and established reputation continue to set it apart from the competition.

How many miles do you get out of a 100% electric car?

The range of a 100% electric car can vary, but on average, it is estimated to be around 211 miles. However, there is a wide range of options available on the market, with some cars offering anywhere between 100 to 300 miles of range. A range of 200+ miles is generally considered good, but it ultimately depends on your individual needs. For shorter commutes or city driving, a range of around 100 miles may be more than sufficient.

Who sells the most EV cars?

When it comes to the sale of electric cars (EVs), Tesla is the top brand. Tesla has dominated the EV market thanks to their ground-breaking technology, exceptional performance, and vast charging networks. Customers wishing to switch to electric vehicles frequently choose them because of their dedication to developing sustainable transportation.

Leave a Comment