The push for new, appealing electric vehicles has gained considerable momentum recently. The next few years will see a rollout of EVs in every popular automotive segment, increasing competition and decreasing prices. At the moment, however, all-electric vehicle development costs remain high and most new additions are priced well above equivalent gas-powered models.
That means the list of economical EVs isn’t yet extensive, but it does include a handful of cars starting under $40,000. Edmunds has assembled a roster of five affordable options for 2023 sorted by price. Some of these models will further qualify for federal tax credits that now require American assembly and parts sourcing.
