Best EVs That Are Cheaper Than Tesla (Under $40,000)

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Last Updated on July 5, 2024 by Rose Morah

In this new age of electric cars, EV manufacturers are striving to make the most reliable and affordable EVs in the market.

If you are looking to buy the cheapest, newest, and most reliable EVs, this article provides you with some of the cheapest available alternatives to Tesla.

But before that, it’s important to note that currently, the Tesla Model 3 is the cheapest Tesla Model. It starts at a base price of $46,990.

The list below is for cheap EVs that are under $40,000. 

We have excluded cheap EVs that are not practical for the normal daily driver.
This means EVs that have under 100 EPA range have been excluded from the list of the cheapest EVs.

So, here is a summary of the most affordable EVs, with either a stylish exterior or a reasonable range:

  • The 2022 Chevrolet Bolt EV is the cheapest EV with a more reliable range. It starts with a base price of $32,495.
  • 2022 Mini Cooper SE is the cheapest and smallest reliable EV with a 2-door design.
  • 2022 Mazda MX-30 is the best cheapest EV with a sporty great exterior design.
  • 2022 Mazda MX-30 is the cheapest EV with the lowest EPA range.

Related: Types of Electric Vehicles (EVs) and Which One You Should Buy.

Cheapest EVs to buy this year

1. 2022 Nissan Leaf S

The Nissan Leaf S 40kW is the cheapest Nissan EV model.

Base Price: $28,425 (including shipping and handling fee).

Battery Pack – 40kWh

Electric Motor – 110kW

Range – Up to 149 Mile EPA range

Are Federal Tax Incentives available when buying a new Nissan Leaf?

Yes. When purchasing a Nissan Leaf in the U.S you can qualify for up to $7,500 in Federal Tax incentives.

Additionally, you may also qualify for other potential city and state taxes for owning an electric car.


What To Know Before Buying a Nissan Leaf (Is It Worth It?)

What To Check Before Buying A Used Nissan Leaf (Nissan Leaf Inspection).

2. 2022 Mini Cooper SE

The 2022 Mini Cooper SE is a two-door hatchback EV.

Base Price – $29,900

Range – Up to 114 Mile EPA range

Battery Size – 32.6 kWh

Are Federal Tax Incentives available when buying a 2022 Mini Cooper?

Yes, you can qualify for $500 – $5000 depending on your state, though not available in all states.

The following are some of the States that are currently offering the tax incentives;

  • California.
  • Connecticut
  • Colorado
  • Delaware
  • Louisiana
  • Maryland
  • New York
  • New Jersey
  • Pennsylvania
  • Oregon
  • Washington DC

See the Electric Car Rebates and Incentives In California.

3. 2022 Chevrolet Bolt EV

The 2022 Chevrolet Bolt EV LT hatchback is so far the cheapest 2022 Bolt EV.

Base Price – $32,495

Range – Up to 259 Mile EPA range

Battery Size – 65.0 kWh

Related: How Long Does it Take To Charge Chevy Bolt (Complete Charging Guide).

4. 2022 Hyundai Kona SEL Electric

The 2022 Hyundai Kona SEL is the cheapest 2022 Hyundai Kona electric.

Base Price – $34,000

Range – Up to 258 Mile EPA range per charge.

Battery Size – 64.0 kWh

When ordering, you can choose a convenience package that will suit you.

Here are some of the features included in the package:

  • Sunroof.
  • LED interior lights.
  • Heated front seats.
  • Wireless device charging. 
  • Hidden cargo area storage.
  • Hyundai Digital key and so much more.

A convenience package can cost you +$3,500.

Do you qualify for tax incentives when purchasing Hyundai Kona Electric?

Yes, you can qualify for up to $7,500 federal tax credit when buying a new 2022 Kona Electric.


Hyundai Kona Electric Pros and Cons (According to Owners).

Pros and Cons of Volkswagen ID.4 Pro.

5. 2022 Mazda MX-30

The 2022 Mazda MX-30 has an eye-catching, sporty, and stylish exterior look.

Base Price – $33,470                       

Range – Up to 100 Mile EPA range per charge.

Battery Size – 35.5 kWh

Do you qualify for any tax credit and other savings when buying a new 2022 Mazda MX-30?

Yes, currently you can qualify for up to $7500 tax credit and $500 Chargepoint credit when purchasing a new Mazda MX-30.

See also:

Complete Guide To Buying A Tesla (What to Know Before Ordering A Tesla).

How To Finance a Tesla (Tips and Tricks).

Who should buy these cheap electric vehicles?

Anyone looking for a city car or driving short miles a day will find these EVs very reliable. 

Because of their lower electricity costs when home charging these cars, you tend to save more.

Additionally, you get to enjoy environmentally friendly and smoother rides.

Why is Tesla Model 3 expensive when compared to the cheapest EVs?

Even though Tesla Model 3 is expensive compared to the above EVs, it comes with more great features, better performance, and more range.

Related: Tesla Model Comparison: Which Tesla Should You Buy?

Table Summary of the 2022 Cheapest EVs 

EVEPA RangePrice
1.2022 Nissan Leaf SUp to 149 miles$28,425
2.2022 Mini Cooper SE Up to 114 miles$29,900
3.2022 Chevrolet Bolt EVUp to 259 miles$32,495
4.2022 Mazda MX-30Up to 100 miles$33,470
5.2022 Hyundai Kona SELUp to 258 miles.$34,000

The table below shows some examples of the cheapest EVs with under 100 miles of range:

Electric CarEPA RangeEst. Base Price
1.FIAT 500E84 miles$34,705
2.Honda Clarity Electric89 miles$37,540
3.Smart EQ FORTWO81 miles$24,650