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Best Electric Vehicles Under 40k 2024 (See The Comparison!)

By: Marvin Chung
Updated on: February 02, 2024

It’s time to challenge your assumption that electric vehicles are only for the wealthy and privileged.

With the EV landscape changing, here are the top 10 Electric Cars Under 40k 2024 are now available for consumers. These eco-friendly vehicles are a budget-saving choice.

Next year, we will explore the most impressive electric vehicles that won’t break the bank, from tiny marvels to practical SUVs.

The New Era of Affordable EVs, Shifting Gears

No longer an exception to the rule, affordable electric vehicles have become more commonplace.

Sustainable driving is now more straightforward, thanks to recent advancements.

In contrast to your grandfather’s classic car, they are now within reach.

2024 Chevrolet Bolt

  • Quick fact: 259 miles

The 2024 Chevrolet Bolt, a stylish electric hatchback starting at around $26,500, is the first stop on our electrifying journey. 

Why is there a catch? One does not exist! You’re looking at an electric vehicle that costs less than $20,000 with a 259-mile range and a $7,500 federal tax credit. 

It’s important to note that while it now uses outdated battery technology, GM has significant ambitions to update it with the high-end Ultium battery architecture.

Learn more information here!

2024 Chevrolet Bolt EUV

  • Quick fact: 247 miles

Want extra space for your crew? Look at the Bolt EUV, a roomy and fashionable electric utility vehicle with a starting price of $27,800. 

Chevy’s Super Cruise autonomous driving technology is included with the Premier level for a glimpse into the future. 

The Bolt EUV is an enticing option because of its 247-mile range, federal tax benefits, and free home charger installation.

Learn more information here!

2024 Nissan Leaf EV

  • Quick fact: 212 miles

Do you recall when the Nissan Leaf led the way in electric vehicles? It has a 212-mile range, so it’s still competitive today and has a solid reliability record. 

Even if it doesn’t have the most extended range on the block, its track record and reputation speak for themselves. 

Sadly, it will soon be removed from the market, so take advantage if you want a piece of EV history.

Learn more information here!

2024 Chevrolet Equinox EV

  • Quick fact: 300 miles

The Chevrolet Equinox EV, a brand-new competitor in reasonably priced EVs, burst onto the scene in 2024. 

This SUV means business with a starting price of $30,000 and a range of an astonishing 300 miles. 

Watch for this newcomer to arrive at showrooms in the fall of 2024.

Learn more information here!

2024 Mini Cooper SE

  • Quick fact: 114 miles

The 2024 Mini Cooper SE will win your heart if you love stylish cars with quick acceleration. 

With a starting price of $30,900, it may only have a 114-mile range, but it knows how to make those miles count. 

Despite its relatively short range, this car makes the most of its limited fuel supply.

The 36-minute charge allows you to swiftly get back on the road while appreciating Mini’s unique charm.

Learn more information here!

2024 Hyundai Kona Electric

  • Quick fact: 258 miles

Covering extensive distances is made more accessible by Kona Electric’s range of 258 miles. The product’s $33,550 cost is separate from its ineligibility for the federal tax credit due to European assembly.

Despite its impressive capabilities, it remains budget-friendly.

Patients can utilize the 2024 Kona’s full potential through OTA enhancements and varied battery choices.

Learn more information here!

2024 Volvo EX30

  • Quick fact: 275 miles

This year’s EX30 model by Volvo offers a harmonious blend of style and affordability, starting at $34,950. A comparison between the two models reveals that they share the same range, at 275 miles.

With a swiftness that belies its compact dimensions, the EX30 zooms from 0-60 mph in 3.4 seconds.

Learn more information here!

2024 Volkswagen ID.4

  • Quick fact: 275 miles

The ID.4 from Volkswagen is making waves for a good reason. It starts at $38,995 and is available in two versions: the basic version, which has a 208-mile range, and the Pro version, which has a remarkable 275-mile range. 

Even if getting your hands on one could feel like a treasure hunt, the sleek design, self-driving capabilities, and free fast-charging sessions sweeten the deal.

Learn more information here!

2024 Kia Niro EV

  • Quick fact: 253 miles

The Kia Niro EV is a good option for people looking for an affordable electric vehicle. 

It has a 253-mile range and a starting price of $39,550. It also has a lot of features. 

The Niro portfolio has options for everyone, whether you choose a hybrid, plug-in hybrid, or utterly battery-powered model.

Learn more information here!

Tesla Model 3

  • Quick fact: 272 miles

Last but not least, with prices starting at $40,240, the Tesla Model 3 is the electric industry leader. 

It’s over our $40k maximum, but trust us, it’s well worth it. 

With a 272-mile range, cutting-edge technology, and a stellar reputation, the Model 3 keeps raising the standard for EVs. Is anyone for autopilot?

Learn more information here!

Navigating the Credit-Charging Maze

Let’s now discuss those tasty tax credits. They are the cherry on top of the electric cake, cutting your expenses and sweetening the EV dream. 

Your price tag can be significantly reduced thanks to federal tax credits, state incentives, and both. 

Similar to the ultimate savings game, your eligibility is determined by things like the assembly site, car cost, and income level.

Comparison of the Electric Cars Under 40k 2024

VehicleStarting PriceRangeFederal Tax Credit EligibleNotable Features
Chevrolet Bolt$26,500259 milesYes ($7,500)10-inch touch screen, free level two home charger installation
Bolt EUV$27,800247 milesYes ($7,500)Super Cruise self-driving feature, spacious cabin
Nissan Leaf$28,040212 milesNoProven performance, legacy EV, compact design
Chevy Equinox EV$30,000300 milesYes ($7,500)New entrant, roomy SUV cabin, large infotainment display
Mini Cooper SE$30,900114 milesNoQuick charging time, stylish design, compact size
Hyundai Kona Electric$33,550258 milesNoMultiple trim options, practical SUV design, value
Volvo EX30$34,950275 milesNoHigh-end brand, swift acceleration, fast charging capability
Volkswagen ID.4$38,995208-275 milesYes ($7,500)Self-driving features, large interior screen, fast charging perk
Kia Niro EV$39,550253 milesNoMultiple versions, spacious cabin, self-driving features
Tesla Model 3$40,240272 milesYes ($7,500)Cutting-edge tech, Autopilot options, fast charging network


What is the EV forecast for 2024?

The EV forecast for 2024 is 14 million units in 2024, rising 35% yearly and reaching a total market share of around 18% of sales. The EV forecast for 2024 is electrifying! Experts predict a surge in affordable electric cars hitting the market, making emission-free driving more accessible and exciting than ever.

Which is the best electric car in the world in 2024?

The best electric cars in the world in 2024 are the 2024 Porsche Taycan, 2024 Hyundai Kona Electric, 2024 Tesla Model Y, 2024 Mercedes-Benz EQS SUV, 2024 Ford F-150 Lightning, 2024 BMW i7 xDrive60 and more!

What is the price of the Hyundai electric car 2024?

The Hyundai electric car 2024 starts at Rs 44.95 lakh. This SUV offers a range of 258 miles, making it a compelling option for those seeking both affordability and practicality.

What is the average range of an electric car in 2024?

In 2024, the average range of an electric car is 211 miles. Thanks to advancing battery technology and improved efficiency, electric cars are covering more ground than ever, giving you the freedom to hit the road confidently.

Final Thoughts

It becomes abundantly evident as we go through the realm of accessible EVs that being green doesn’t have to mean breaking the bank. 

These electric vehicles, which range in size from tiny marvels to roomy SUVs, are proof of how the automobile industry is changing. 

These affordable electric cars are ready to amp up your driving experience, whether you’re a city slicker or an adventurer. 

People, fasten your seatbelts because electric vehicles are thrilling and incredibly inexpensive.


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