Electric vehicles, also referred to as battery electric vehicles (BEVs), have an electric motor instead of an internal combustion engine. These vehicles use a large traction battery pack to power the electric motor and must be plugged in to a wall outlet or charging equipment, also called electric vehicle supply equipment (EVSE). Because it runs on electricity, the vehicles emits no exhaust from a tailpipe and does not contain the typical liquid fuel components, such as a fuel pump, fuel line, or fuel tank. The cheapest electric vehicles in the world are discussed in this article.
Here are some of the top 10 cheapest electric cars available in the market today, offering eco-friendly mobility at budget-friendly prices.
1. Hyundai Kona Electric
The Hyundai Kona Electric is a subcompact SUV similar in styling and layout to the gasoline Kona. It offers front seat comfort but is tight in the back and cargo area. It features a 201-hp electric motor, a 64-kWh battery, and fast-charging, going from 10% to 80% in 47 minutes. In 2022, it got updates like styling and a 10.25-inch touchscreen. For 2023, it carries over largely unchanged, and it’s available in states with zero-emission vehicle sales targets. Hyundai Kona Electric price starts at Rs. 23.84 Lakh and top model price goes upto Rs. 24.03 Lakh. Kona Electric is offered in 2 variants – the base model of Kona Electric is Premium and the top model Hyundai Kona Premium Dual Tone.
2. Mazda MX-30
The Mazda MX-30 is a subcompact crossover SUV produced by Mazda and sold as a battery electric (BEV), plug-in hybrid (PHEV) or mild hybrid (MHEV) variant. Based on the CX-30, it was unveiled at the 2019 Tokyo Motor Show. Production of the vehicle, which is Mazda’s first mass-produced electric car, began at their Ujina factory on 19 May 2020.
Mazda introduced its first U.S. electric vehicle, the MX-30, in October 2021. It featured a unique design with eco-friendly interior materials. The electric motor produced 144 hp, drawing power from a 35.5-kWh battery for a 100-mile range. While it lacked AWD, Mazda offered perks like loaner vehicles and $500 ChargePoint credits. Unfortunately, the MX-30 was discontinued in the U.S. by the end of 2023, marking a change in Mazda’s EV strategy.
| Year | Variant | Price |
|---|---|---|
| 2023 | Mazda MX-30 G20e Evolve 2.0L SUV FWD | $36,610 |
| 2023 | Mazda MX-30 G20e Touring 2.0L SUV FWD | $39,110 |
| 2023 | Mazda MX-30 G20e Astina 2.0L SUV FWD | $42,110 |
| 2023 | Mazda MX-30 E35 Astina SUV FWD | $66,410 |
3. Volkswagen ID.4
The Volkswagen ID.4 is a compact SUV known for its spaciousness and enjoyable, smooth ride. It has a tight turning radius for easy city maneuvering. Inside, it has a clean design, although some found its touch-sensitive controls less intuitive. Cargo space is reasonable. In 2023, a more affordable Standard trim with a smaller battery was introduced, offering 209 miles of range. The ID.4 Pro, with an 82-kWh battery, provides 275 miles of range. A dual-motor AWD option is available, but it reduces range to 255 miles. Volkswagen offers standard DC fast charging and three years of free fast charging at Electrify America stations for added convenience.
The Volkswagen ID. 4 is a practical electric SUV with a roomy, high-tech interior, excellent safety scores, and more than enough range for the daily commute. Pricing starts at $38,995 before tax credits.
4. Kia Niro EV
Kia’s Niro EV is part of their redesigned 2023 lineup of electrified hatchbacks, which includes hybrid and plug-in hybrid versions. The 2023 Niro EV retains its predecessor’s architecture with standard front-wheel drive, a 64.8-kWh battery pack, and a potent 201-hp electric motor. This setup grants an impressive estimated range of 253 miles. Buyers seeking affordability can opt for the base Niro Wind trim, while those desiring a fully loaded experience should consider the Wave trim.
5. Tesla Model 3
The Tesla Model 3, the smallest and most affordable car in Tesla’s lineup, stands out for its performance and range. In 2023, it continues its trend of disregarding conventional model year updates. The base model offers a range of up to 272 miles, while the Performance and Long Range versions can achieve 315 and 358 miles, respectively. A significant change for 2023 is the reintroduction of the Full Self Driving feature, which returned as an option in June 2022.
Notably, recent price fluctuations have also affected the Model 3, as well as other Tesla vehicles.
Tesla Model 3 Long Range 2021: ₦19.4 million – ₦23.4 million.
Tesla Model 3 Long Range 2022: ₦19.8 million – ₦22.5 million.
Tesla Model 3 Performance 2020: ₦21.8 million – ₦23.2 million.
6. Hyundai Ioniq 6
Hyundai’s 2023 Ioniq 6, the latest addition to their electric lineup, takes on the Tesla Model 3 as a sleek sedan. It offers standard or long-range versions with RWD or AWD. The base SE Standard Range model boasts a 53-kWh battery and 149 hp, while the long-range version packs a 77.4-kWh battery with an option for 320 hp with dual-motor AWD. This versatile range makes the Ioniq 6 a formidable competitor in the electric car market.
Pricing for the Ioniq 6 starts at slightly less than $43,000 in SE Standard Range trim. Choosing the SE Long Range with its bigger battery brings prices to under $47,000.
7. Chevrolet Bolt EV
The Chevrolet Bolt EV is currently the top choice for affordability and performance in the US electric car market. It offers an impressive range of 259 miles on a single charge, outperforming pricier competitors. While its charging speed is not the fastest, it compensates with smart Android Auto and Apple CarPlay integration, safety features, and built-in Alexa functionality.
The price of the 2023 Chevrolet Bolt EV starts at $27,495 and goes up to $30,695 depending on the trim and options. Bolt 1LT and 2LT trims get an EPA-estimated 259 miles of range and can accept DC fast charging.
8. Mini Cooper SE
The Mini Cooper SE may have a limited range of around 114 miles and slow charging, but it excels in city driving and easy parking. It’s an ideal choice for electric car beginners, offering simplicity, great acceleration, and a charming design. Despite its limitations, it’s a top pick for those seeking an urban-friendly electric car.
The cost of a 2024 MINI Electric Hardtop is $30,900 for the Starting MSRP of a Cooper SE Hardtop 2 Door engine variant.
9. BMW 330e
The BMW 330e sedan boasts a potent 288 horsepower, combining performance and efficiency. It prioritizes safety with features like post-accident readiness and the BMW Assist e-call. Luxury touches include folding mirrors, heated side mirrors, and a high-quality sound system. The car’s convenience features like rain-sensing wipers and an easy-to-use moonroof enhance the driving experience. Plus, it remembers your settings for added convenience. However, it comes with a higher price tag. The BMW 330e is one of the most affordable plug-in hybrids around. It also boasts lots of standard features, quick acceleration and appealing fuel efficiency. The 330e even makes a good case over the base BMW 3 Series. For a slight premium, you get a car that’s both quicker and more fun to drive.
Prices for a new BMW 3 Series 330e currently range from $47,295 to $62,220.
10. MG ZS EV
The MG ZS EV is an eco-friendly choice for families, offering an impressive 273-mile range with the larger 68kWh battery. It boasts a spacious 470-liter trunk, suitable for more cargo than the Hyundai Kona. The interior is practical, accommodating two child seats or three adults comfortably. Safety is a strong suit, with a five-star Euro NCAP rating. However, to maintain affordability, there are compromises in terms of interior aesthetics, a simpler display screen, and a less sporty driving experience.
Price of MG ZS EV ranges between Rs. 22.88 Lakh – Rs. 26.00 Lakh depending on the variant selected.
These vehicles represent a promising shift towards sustainable transportation, making electric mobility more accessible and practical for a broader range of consumers.