Electric vehicles are becoming increasingly popular as gas prices skyrocket. In fact, automakers plan to pivot to largely electric lineups in the coming decade, in response to ongoing climate concerns.
For more than a decade, brands like Nissan and Chevrolet have offered electric cars like the Nissan Leaf and Chevy Spark EV, but their gas-powered subcompact affordable and compact counterparts were always more affordable.
While that’s still true today — especially as brands like Tesla market electric vehicles (EVs) like the Tesla Model S starting in the six-figure range — the price gap between gas cars and electric cars has become much narrower. Federal tax credits can even make an electric car cheaper than a similar gas-powered model.
At the same time, automakers have made tremendous strides to address range anxiety; most of the electric cars featured below can go at least 200 miles on a single charge.
But what’s the most affordable electric vehicle, and how do tax credits affect the price? Check out our list of the cheapest electric cars below.
10 Cheapest Electric Cars in 2022
We’ve rounded up the most affordable EVs in the US based solely on their MSRP (manufacturer’s suggested retail price).
Note, however, that General Motors (Chevy, Buick, GMC, and Cadillac) and Tesla vehicles are no longer eligible for the $7,500 tax credit as of publication, and Toyota is on its way to graduating from eligibility.
Once an automaker sells 200,000 electric cars, its vehicles are no longer eligible for federal tax credits under current legislation.
Why is this important? While Chevy models are among the most affordable in terms of MSRP, customers won’t be eligible for a $7,500 tax credit for those models come tax season. In short, you can think of other models as being $7,500 cheaper than the listed MSRP, but with Chevy,…