Affordability has long been one of the leading concerns among drivers across the world as the high costs of electric vehicles impede them from ditching internal combustion engine-powered (ICE) cars.
Therefore, major industry players race to develop and launch more affordable models to expand the availability of electric vehicle technology to a wider range of customers.
Without further ado, this article will outline the top five budget-friendly EVs customers can acquire in 2024.
1. Chevrolet Bolt EV ( $27,495)
General Motors’ Chevrolet Bolt EV has a very affordable base price of $27,495, as per Top Speed. Considering this pricing, it is unsurprising that this particular model remains the cheapest EV in the US market.
For that amount, it offers remarkable efficiency with a front-wheel drive electric motor that generates 120 MPGe on the combined cycle. It can also enable an EPA-rated driving range of 259 miles from a 65 kWh battery.
| Chevrolet Bolt EV 1LT Performance | Specifications |
| Drivetrain | Single-motor front-wheel drive |
| Transmission | Single-speed automatic |
| Horsepower | 200 HP |
| Torque | 266 LB-FT |
| 0-60 MPH | 7.0 Seconds |
| Top Speed | 90 MPH |
| Battery Capacity | 65 kWh |
| EPA Range | 259 miles |
| EPA Combined Consumption | 120 MPGe |
2. Nissan Leaf (starting at $28,140)
Nissan initially launched the Leaf EV in 2010 with a unique charisma and practicality. It currently has a starting price of $28,140, remaining an ideal option for budget-conscious buyers.
The entry-level model offers a driving range of 121. miles, while the SV Plus variant can reach 212 miles. Despite this affordability, this Japanese EV offers industry-leading safety with a 5-star overall safety rating from the NHTSA.
| Nissan Leaf S Performance | Specifications |
| Drivetrain | Singe-motor front-wheel drive |
| Transmission | Single-speed automatic |
| Horsepower | 147 HP |
| Torque | 236 LB-FT |
| 0-60 MPH | 7.4 Seconds |
| Top Speed | 90 MPH |
| Battery Capacity | 40 kWh |
| EPA Range | 149 miles |
| EPA Combined Consumption | 111 MPGe |
3. MINI Cooper SE Electric (starting at $30,900)
The MINI Cooper SE Electric continues to attract loyal fans of the gas-powered variant as it maintains its iconic appearance. For a $30,900 base price, it can accelerate from 0-60 mph in just sub-7 seconds. It also boasts 181 horsepower and an EPA-rated range of 114 miles.
| Mini Cooper SE Performance | Specifications |
| Drivetrain | Single-motor front-wheel drive |
| Transmission | Single-speed automatic |
| Horsepower | 181 HP |
| Torque | 199 LB-FT |
| 0-60 MPH | 7.2 Seconds |
| Top Speed | 93 MPH |
| Battery Capacity | 54.2 kWh |
| EPA Range | 114 miles |
| EPA Combined Consumption | 110 MPGe |
4. Hyundai Kona Electric (starting at $32,675)
The refreshed 2024 Hyundai Kona Electric features an upgraded design and features. The base SE variant enables 200 miles of range between charges, while the higher-end variants offer up to 261 miles. It also offers the South Korean legacy automaker’s standard 10-year/100,000-mile powertrain warranty.
| Hyundai Kona Electric SE Performance | Specifications |
| Drivetrain | Single-motor front-wheel drive |
| Transmission | Single-speed automatic |
| Horsepower | 201 HP |
| Torque | 291 LB-FT |
| 0-60 MPH | 6.4 Seconds |
| Top Speed | 112 MPH |
| Battery Capacity | 64 kWh |
| EPA Range | 261 miles |
| EPA Combined Consumption | 116 MPGe |
5. Fiat 500e (starting at $32,500)
The Fiat 500e is set to hit the US market in the first quarter of 2024 with a base price of $32,500. It features a 42 kWh battery pack that claims a driving range of 149 miles. Its electric motor generates an output of 118 horsepower and 162 lf ft of torque. In addition, it sports enticing interior and exterior layouts with a wide range of standard entertainment and comfort technologies.
| Fiat 500e Red Performance | Specifications |
| Drivetrain | Single-motor front-wheel drive |
| Transmission | Single-speed automatic |
| Horsepower | 118 HP |
| Torque | 162 LB-FT |
| 0-60 MPH | 8.5 Seconds |
| Top Speed | 93 MPH |
| Battery Capacity | 42 kWh |
| Claimed Range | 149 miles |
| EPA Combined Consumption | TBA |
Despite the remarkable affordability of the models mentioned above, interested buyers must also first explore insurance policy options. It is a crucial step, considering that EVs tend to be pricier to insure than ICE vehicles due to their repair complexity and expensive battery packs. Moreover, buyers must deeply consider their preferences and needs in choosing a model to ensure that they will have a pleasant EV ownership.
