10 Best Electric Vehicles Under $40,000

With the increasing popularity of electric vehicles, there is a larger number of options available, and purchasing an electric vehicle with excellent power and performance capabilities, efficiency, competent battery range, fast charging, ample cargo and interior space, sumptuous tech features, and adequate safety features under $40,000 is more possible. For instance, imagine having a 147-horsepower electric motor that delivers impressive acceleration and a top speed of 90 mph together with a 40-kWh battery that provides a range of 149 to 215 miles on a full charge, with fast-charging capability that adds up to 80 percent charge in just 40 minutes for well under $40,000.

Some EVs also deliver practicality and comfort with a spacious interior that can accommodate five passengers comfortably and ample cargo space that can be further expanded with the rear seats folded to carry all the luggage required. For that price, they also feature advanced safety features, including automatic emergency braking, rear cross-traffic alert, and blind-spot monitoring, and excel in tech features like a huge digital touchscreen infotainment system with Apple CarPlay, Android Auto, and available Wi-Fi connectivity. They are an excellent and affordable alternative to traditional gasoline-powered vehicles for buyers looking to make the switch to more accessible and practical environmentally-friendly options.

Related: 10 Hybrid Vehicles That Are Changing The Automotive Industry

1 Chevrolet Bolt EV – $27,495

2022 Chevrolet Bolt EV parked on a beach 

The Chevrolet Bolt EV’s 200 horsepower and 266 pound-feet of torque powertrain delivers an exciting driving experience. It has an efficient 65 kWh battery that provides a range of 259 miles on a full charge. The Bolt EV is equipped with DC fast charging, allowing drivers quickly top up the battery when needed.

2023 Chevrolet Bolt EV Prices

The inside is spacious and versatile and an ample cargo space of 16.6 cubic feet expands to 57 cubic feet with the rear seats folded. Interior tech features include a 10.2-inch touchscreen, that supports Apple CarPlay, Android Auto, and Wi-Fi connectivity. Safety features such as forward collision alert, lane keep assist, and surround-view camera are available. A starting MSRP of $27,495 after destination charges make it an absolute bang-for-your-buck model in the electric vehicle market and an enticing option for eco-conscious drivers.

2 Nissan Leaf – $28,040

Front three-quarters shot of a red 2018 Nissan Leaf

The Nissan Leaf runs on a 147-horsepower electric motor that provides impressive acceleration from its instant torque and a top speed of 90 mph. Its aerodynamic design and regenerative braking system help in maximizing energy conservation. It has a 40-kWh battery that offers a range of up to 212 miles on a full charge. This is adequate for daily commutes and weekend trips.

2023 Nissan Leaf Prices

The Leaf also supports both standard and quick charging options. It is enabled to receive up to 80 percent battery charge in just 40 minutes as well as Level 1 and Level 2 home charging systems. In addition to its cargo and interior space accommodating five passengers comfortably, the hatchback design allows for versatile storage configurations. A starting MSRP of $28,040 includes an 8-inch touchscreen infotainment system and advanced driver-assistance features.

Related: The Cheapest Electric Cars With More Than 200 Miles Of Range

3 Chevrolet Bolt EUV – $28,795

Side profile of Chevrolet Bolt EUV parked on a beach side

The Chevrolet Bolt EUV is the sibling of the Bolt EV with a 149 kW electric motor, that delivers up to 200 horsepower and 266 pound-feet of torque, a 0-60 mph acceleration time of 7.0 seconds, and provides a top speed of 93 mph. It offers a total range of 247 miles on a full charge, and its available DC fast-charging capability can add up to 95 miles of range in just 30 minutes.

2023 Chevrolet Bolt EUV Prices

Like its sibling, the Bolt EUV features a surprisingly spacious cargo and interior cabin with a cargo capacity that can be expanded to 56.9 cubic feet. Its advanced tech features include an intuitive 10.2-inch touchscreen and wireless charging. The cabin also has an available panoramic sunroof. A starting MSRP of around $28,795 is nearly unbeatable.

4 Chevrolet Equinox EV – $30,000

Discover a new era of eco-conscious driving with the 2024 Chevrolet Equinox EV.

The Equinox EV will be released in 2024 with a base MSRP of $30,000. A total power output of 290 horsepower will facilitate a 0-60 mph acceleration time of six seconds. The base 1LT model will have a total driving range of 250 miles on a full charge while the 2LT, 2RS, 3LT, and 3RS trims will run for 300 miles on a full battery.

2024 Chevrolet Equinox EV Price

​​​​​This level of efficiency is emphasized by the regenerative braking technology that facilitates one-pedal driving. A Level 2 AC home charger supporting speeds of 11.5 kW will be able to add up to 34 miles of range to the battery every hour it stays plugged in while DC fast-charging stations will be able to add up to 70 miles of range in every 10 minutes it is charging.

Related: 10 Electric Crossovers That Are Stylish And Modern

5 Mini Cooper SE – $30,900

A side shot of a Mini Cooper SE Electric parked next to a lake.

Pricing for the Mini Cooper SE starts at around $30,900, and while it may not be the best option for long road trips or large families, it offers some drivers an affordable and efficient electric vehicle option. It is powered by a 135-kW electric motor that produces 181 horsepower and 199 pound-feet of torque, to produce a quick acceleration of 0-60 mph in 6.9 seconds.

2023 Mini Cooper SE Prices

It has an efficiency adequate for daily driving and has been rated by the EPA to have an estimated range of 114 miles on a full charge. Charging is relatively impressive also and is estimated to take around 36 minutes to reach 80 percent charge with DC fast charging at speeds of 50 kW. It has an 8.8-inch intuitive infotainment system coupled with a digital instrument cluster.

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6 Hyundai Kona Electric – $33,550

2023 Hyundai Kona Electric cruising down a windy road

Pricing starts at around $33,550 for the Hyundai Kona Electric. For that price, it comes equipped with a 150-kW electric motor, that delivers an impressive 201 horsepower and 291 pound-feet of torque. It has an extremely efficient battery system where its 64-kWh battery pack provides a range of up to 258 miles on a full charge.

2023 Hyundai Kona Electric Prices

It has available, Level 3 DC fast-charging at speeds of 50 kW that can charge the battery from 10 to 80 percent in just over an hour. It also supports speeds of 100 kW which replenish 10 to 80 percent of the battery in 47 minutes. It has a cargo space of up to 45.8 cubic feet with the rear seats folded down and a 10.25-inch touchscreen navigation system in the higher SEL and Limited trims.

Related: 10 Hybrid Cars That Are Perfect For Long Road Trips

7 Mazda MX-30 – $34,110

Side Angle Profile Of A White Mazda MX-30 Parked In A Garage

The Mazda MX-30 has a modest 107 kW electric motor that offers 143 horsepower of peak output as well as a top speed of 87 mph. Efficiency is a strong suit of the MX-30, producing one of the best ratings on the market with regenerative braking and other energy-saving features bringing about a combined energy efficiency rating of 92 MPGe.

2023 Mazda MX-30 Prices

Its 35.5-kWh battery offers just 100 miles of range on a full charge. It supports DC fast charging, making it capable of recharging from 20 to 80 percent in 36 minutes. Rated at five stars by the NHTSA, the MX-30 has excellent safety features and a suite of driver-assistance systems. The interior enjoys an active driver’s display, a power sliding-glass moonroof, and an 8.8-inch center touchscreen display that allows Android Auto and Apple CarPlay compatibility.

8 Volkswagen ID.4 – $38,995

A front action shot of a yellow 2023 Volkswagen ID.4 speeding over a bridge. 

The Volkswagen ID.4 features an electric motor setup where the rear-wheel drive delivers 201 horsepower and the all-wheel drive delivers 295 horsepower and instant torque for a 0-60 mph time of 5.4 seconds. Its battery produces up to 275 miles on a full charge. The ID.4 also supports both AC and DC fast charging. With a DC fast charger, the ID.4 can go from 10 to 80 percent in 30-36 minutes.

2023 Volkswagen ID.4 Prices

A Level 2 charger can charge the battery full at 11 kW between six and seven and a half hours depending on the battery pack and the trim level. The interior includes a heated steering wheel, with buttons and switches within easy reach, heated seats with the driver’s seat having 12-way adjustable power controls and four-way lumbar massage with a memory function, and a 12-inch intuitive infotainment touchscreen.

Related: 10 Cars We Can’t Wait To See Become EVs

9 Kia Niro EV – $39,550

Front-shot of a parked 2023 Kia Niro PHEV

The Kia Niro EV is powered by a 201-horsepower electric motor, that is capable of 0-60 mph acceleration in 6.5 seconds. It has a highly impressive range of 253 miles on a full charge and if that wasn’t incredible enough, it comes with 500 kWh of charging credits on the Electrify America network upon purchase which translates to 1,750 to 2,000 miles of free charging.

2023 Kia Niro EV Prices

The starting MSRP of $39,550 includes a 22.8 cubic feet storage space that can be expanded to 63.7 cubic feet with the rear seats folded down, a 10.25-inch instrument display for the driver and a 10.25-inch infotainment screen with Apple Carplay and Android Auto compatibility, Sirius XM satellite radio, voice recognition, a six-speaker audio system and lots of USB charging ports.

10 Tesla Model 3 – $40,240

Front 3 quarter shot of a black 2014 Tesla Model 3 on a track. 

Priced at a smidge above $40,000, the Tesla Model 3 has multiple available powertrain options that offer impressive performance like a 0-60 mph time of 3.1 seconds. The standard rear-wheel drive model, the long-range version, and the performance version are good for 272 miles, 333 miles, and 315 miles of range respectively on a full charge.

2023 Tesla Model 3 Prices

Tesla’s extensive Supercharger network enables convenient and fast charging of up to 170 miles of range in about 18 minutes. It has ample interior space for five adults and up to 23 cubic feet of total cargo capacity. A 15-inch touchscreen display controls most of the vehicle’s functions. It is highly rated for safety as safety is a priority for Tesla. The Model 3 is equipped with technologies like the Autopilot and an array of advanced safety features.​​​​​​