5 Cheap Electric Vehicles Hitting the Market in 2024

Thinking about making the switch from a traditional automobile to an electric vehicle? This can be a difficult decision to make, not only because EVs require more strategizing around charging (particularly if you’re, say, going on a road trip), but they also are generally more expensive than regular cars. 

But not always. As EVs become more popular, we’re seeing more reasonably priced options pop up on the market. In fact, the average price for an EV really isn’t much more than the average price of a regular car. 

“The average price for new EVs has settled at about $50,798, contrasting with the general new car average of around $48,800,” said Rob Dillan of EVhype. “However, the highlighted affordable models are significantly undercutting this average, showcasing the industry’s move towards more accessible electric mobility.”

Let’s have a look at what automotive experts are eying as cheap but excellent new EV models driving excitement in 2024. 

Also see why it’s a good time financially to buy an EV.

With a starting price of $45,390, this vehicle is actually a bit cheaper than the average car, which now costs over $48,000. This model, available with either a standard-range 70.0-kWh battery or an extended-range 91.0-kWh pack, offers drivers a smooth, silent ride and a dazzling feature set. Plus, it has a chic and sporty vibe that will make you feel stylish on the road.

The 2024 Hyundai Kona Electric has an MSRP of $32,675. Reviewers at GearJunkie appreciate this model’s improvements over last year’s, highlighting its smoothness and comfortability. They also say this car is “a serious challenge to gas-powered competitors.”

“Offering a balance between range and affordability, the Kona Electric is expected to stay competitive,” Dillan said. 

“The 2024 Mini Cooper SE brings electric driving to the iconic Mini brand, blending style with sustainability,” Dillan said. 

Not only is the 2024 a cool looking wide with timeless appeal, it’s a lot cheaper than what the average car goes for these days — starting at $30,900. Drivers who value sassy vibes will especially appreciate this small but powerful EV. 

The 2024 Nissan Leaf starts at $29,280, which is a great price for an EV — to the extent that reviewers at Car and Driver say this car “makes the transition from fuel pump to charging station easier to justify.” Meanwhile, Dillan calls it “an icon of affordable electric driving.” 

But it’s not all bells and whistles with the 2024 Nissan Leaf. Car and Driver also highlights drawbacks including a slower 50 kW DC fast-charging maximum capacity and a short 180 miles of range on a single charge, according to the site’s 75 mph highway test.

“Priced between $26,599 and $29,700, the Bolt EV stands out for its value, offering competitive range and technology at an entry-level price,” Dillan said. 

Though this model is an improvement over the 2023 edition (with a slew of minor changes), it’s got that classic Chevy Bolt feel, riding on the platform called BEV2 (Battery Electric Vehicle 2), like all previous versions.