The Cheapest Electric Cars in 2020

2020 Mini Cooper Electric front 3/4 view
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Save Money Without Sacrifice With These Electric Vehicles

The electric vehicles (EVs) of the past were often polarizing, short on range, and lacking in performance. In many cases, that has changed, though you’ll notice that some automakers are still bringing short-range EVs to market that are unable to charge very quickly. The Mini Cooper Electric Hardtop only has 110 miles of range and the upcoming Mazda MX-30 only offers 130 miles.

While there are still a few EVs with limited range, many models with subpar range have been discontinued. In addition, updated models and trim levels continue to come to market, touting increased range and faster charging capability than their predecessors. For 2020, the Chevy Bolt and Hyundai Ioniq Electric both see a range increase. Tesla increases the range of its vehicles on a regular basis.

Most of today’s EVs look like conventional cars, and offer better overall performance than gas-powered vehicles. Some EVs are even based on gas-car platforms, such as the Hyundai Kona Electric and Kia Niro EV. To top it off, electric vehicles are cheaper to own over time due to better efficiency, reasonable prices for electricity, and minimal maintenance.

We’ve searched through our rankings to find every battery-electric car with a starting price under $50,000. In fact, most of the cars on our list have an MSRP between $30,000 and $40,000. It’s important to note that cars using battery power alone qualify for a federal electric vehicle tax credit of $7,500. 

That said, a few automakers are beginning to see a reduction or complete phase-out of their tax credit eligibility, and these credits may not be around forever. So, if possible, take advantage of this incentive while it’s still available on most of today’s EVs. However, before you buy, make sure to check with a tax professional to find out if your financial situation allows you to claim the credit.

It’s important to note that our scores and rankings change on a regular basis as new data and expert research become available. So, the scores in this article may not match up with the scores in our individual vehicle reviews.

Keep reading to learn more about the cheapest electric cars on the market today, ordered from the most expensive to the cheapest. We’ve also included a list of EVs that are coming to market soon. Most carry a sub-$50,000 starting price, though there are a few exceptions. If you can take advantage of the federal tax credit, you should be able to get most of the future EVs for under $50,000.

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