The electric vehicle (EV) has been the biggest revolution in the automotive industry in recent memory. Still, while the hype and excitement for electric vehicles are undeniable, adoption rates are lower than most would hope for. In the opinion of many, one of the most significant barriers to entry for consumers is the cost of electric vehicles compared to a traditional internal combustion engine-based vehicle.
Generally, as the underlying technology advances and more players enter the market, the price of an electric vehicle is expected to drop. However, economic forces including supply-chain shortages and inflation are challenging that narrative. A recent report from Kelley Blue Book indicates that the cost of electric vehicles has increased 13% from last year to an average value of $66,000, up from $59,326 in 2021.
Regardless, inexpensive EVs still exist on the market, if you know where to look. Here are the nine most affordable electric vehicles on the market today.
This list is based on the listed MSRP of baseline offerings of the newest offerings from each manufacturer. It does not account for discounts such as tax incentives.