Personal Finance

9 of the Cheapest Electric Vehicles in 2022

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Man charging a Nissan Leaf electric vehicle
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Electric vehicles aren’t just a fad — they’re here to stay. A Pew Research Center report found that 39% of Americans are likely to consider an EV for their next car purchase. About 7% of adults currently own an EV or hybrid.

While sticker prices have risen across all types of vehicles, EVs cost more than their gas-guzzling friends. According to Kelley Blue Book, electric vehicles cost an average of about $65,000 as of April 2022. That compares with an average of about $52,000 for their counterpart, entry-level luxury cars and $44,000 for full-size cars. Non-electric compact cars average $26,000.

Not all EVs cost that much, though, and remember maintenance costs tend to be relatively minimal.

Following are some of the most affordable electric cars from the 2022 model year, according to Some of them qualify for a federal tax credit, which is worth up to $7,500 right now, assuming you are otherwise eligible for the credit.

Hyundai Ioniq 5

Hyundai Ioniq 5 electric vehicle
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Starting MSRP: $39,950

This crossover SUV can go up to 303 miles on one full charge. Depending on your commute, you could go weeks without charging your car.

It’s currently available for the federal tax credit.

Kia EV6

Kia EV6 electric vehicle
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Starting MSRP: $40,900

Fast-charging for 18 minutes can get you 217 miles with this SUV, which has a total range of 310 miles on a full charge and a dual-motor all-wheel drive. The Kia EV6 qualifies for the federal tax credit.

Volkswagen ID.4

Volkswagen ID.4 electric vehicle
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Starting MSRP: $41,230⁠

This small SUV seats up to five people. Its range with a full, overnight charge is 275 miles, but a 10-minute stop at a fast-charging station can get you about 70 miles.

Currently, the 2022 ID.4 is not eligible for the federal tax credit, according to the U.S. Environmental Protection Agency (EPA), though the 2021 model is.

Ford F-150 Lightning

Ford F-150 Lightning electric truck
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Starting MSRP: ​​$39,947

The F-150 Lightning can tow up to 10,000 pounds. This all-electric truck has a range of up to 320 miles on a full charge. Or, instead of hitting the road, Ford says it has the backup power to keep your home running for up to three days.

It also qualifies for the federal tax credit.

Kia Niro EV

Kia Niro EV electric vehicle
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Starting price: $39,990

This crossover SUV gets about 293 miles on a full charge, though you can get about 100 miles’ worth in about 30 minutes at a fast-charging station.

It currently qualifies for the federal tax credit.

Hyundai Kona Electric

Hyundai Kona Electric car
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Starting MSRP: $34,000

You can get up to 258 miles on a full charge with this SUV. Plugged into a home outlet, the Kona Electric takes a little more than nine hours to charge from 10% to 100%.

This car is currently for sale in only about a dozen U.S. states, according to Hyundai’s website. So if you’re considering it, call your dealership first to see if they have it.

It’s eligible for the federal tax credit.

Mazda MX-30 EV

Mazda MX-30 EV electric vehicle
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Starting MSRP: $33,470

The Mazda MX-30 EV has a range of about 100 miles on a full charge — much less compared with some other EVs on the list. But if this fits your budget and driving lifestyle, it might work out for you.

It qualifies for the federal tax credit.

Chevrolet Bolt EV

Chevrolet Bolt EV electric vehicle
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Starting MSRP: $31,500

The Bolt EV gets up to 259 miles on a full charge, and boasts the ability to go from 0 to 60 mph in 6.5 seconds with its responsive acceleration.

The 2022 Bolt EV is not available for the federal tax credit, according to the EPA, but the 2017-2020 models are.

Also, Chevy is offering to cover the cost of standard installation of a Level 2 home charging outlet for eligible customers who buy or lease a 2022 Bolt EV (or 2022 Bolt EUV).

Chevrolet Bolt EUV

Chevrolet Bolt EUV electric vehicle
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Starting MSRP: $33,500

The Chevy Bolt EV has a sibling: the Bolt EUV (electric utility vehicle). It gets up to 247 miles on a full charge, and goes from 0 to 60 mph in 7 seconds. Like the EV, the EUV seats five but offers more rear-seat leg room: 39.1 inches instead of 36 inches.

The EUV’s decent price tag and Chevy’s offer to cover the installation of a home charging outlet might entice potential buyers and borrowers, since the EPA says these cars aren’t eligible for the federal tax credit.

Nissan Leaf

Nissan Leaf electric vehicle
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Starting price: $27,400

This is the most affordable electric vehicle on the market right now, according to’s list, with a cost rivaling that of traditional compact cars. Among its features, the Leaf comes with a full suite of standard driver assist and convenience tech. You can get up to 226 miles off of one charge.

The Nissan Leaf is eligible for the federal tax credit.

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