Electric Vehicles Under $50,000

Is it possible to get electric vehicles for under $50,000? Well, yes, and there are several of them. Electric vehicle offerings are multiplying this year with the arrival of several new models on the market. The same will be true in 2025 and beyond; the shift is well and truly underway.

However, what many buyers really need is more affordable solutions. Yes, the discounts and subsidies that are still available help, but the bills are still high.

Here are 10 electric vehicles currently available for under $50,000 in Canada. We won’t give you the exact price, as it varies enormously and rapidly when you visit the different manufacturers’ websites.  Nevertheless, this will give you a better idea of the models on offer if you’re looking for a more “affordable” product.

The models are presented in no particular order.

1 — Fiat 500e

Fiat is bringing its 500 back to the catalogue this year, but this time in an all-electric configuration (500e). The model is recognizable, retaining the same styling as before, and still inspired by the past. The Fiat 500e is priced at just under $40,000, making it the most affordable electric car on the market.

Its 240 km range will put some buyers off, but this shouldn’t be a hindrance for a car that will spend most of its time near urban centers.

2 — Chevrolet Equinox EV

Chevrolet has finally unveiled its electric Equinox. A version of this model will be available for under $45,000 before the end of the year, which is good news. The current base variant is even offered under $50,000, making this product an interesting new player in the market. It delivers 513 kilometres of range in front-wheel-drive configuration, which is a more than respectable figure.

3 — Hyundai Kona EV

The Kona EV is Hyundai’s least expensive electric vehicle, below the Ioniq 5 and Ioniq 6. It’s more compact but still offers a spacious interior and a comfortable ride. And with a range of 418 km, it has little to envy its rivals. It remains an interesting choice, but the arrival of the Chevrolet Equinox EV could hurt it… or force Hyundai to lower its price, which would suit everyone.

4 — Kia EV6 (2023)

The Kia EV6 is also an interesting choice, but there’s a nuance to it. On Kia Canada’s website, the 2023 model is still available for around $50,000, but the 2024 model is more expensive. You’ll have to be quick and use your wits to get your hands on a 2023 edition at a better price. The EV6 offers a strong face, a solid ride and a range of up to 500 km with the smallest battery (77 kWh).

5 — Kia Niro EV

The Hyundai Kona EV’s cousin, the Kia Niro EV, is also available for under $50,000. Just over 400 km of freedom, a modern, well-crafted interior, and an uneventful, comfort-oriented drive – that’s what’s in store with this model.

6 — Mazda MX-30

The Mazda MX-30 is still on sale in this country, so it made it into our top ten. It’s priced at less than $45,000, which is attractive. The problem, as you probably already know, is that this model’s range is laughable for the price. The MX-30 offers 161 km of freedom. In winter, this drops to 100 km, if we’re being generous. At $20,000, perhaps, but not at more than $40,000.

7 — Nissan LEAF

Nissan’s LEAF is getting old, the current generation having been introduced for 2018. However, it’s relevant because it’s practical, offers an acceptable range (240 km in base configuration and 342 if you want to pay a bit more), and offers satisfactory overall performance. And it’s one of the most affordable, at around $42,000.

8 — Volkswagen ID. 4

Volkswagen’s ID.4 electric SUV remains a popular choice, not only for its eye-catching styling but also for its entry-level price of between $40,000 and $45,000. With the base version, you enjoy 336 km of freedom, which isn’t too bad. If you pay a little more, the range can rise to 443 km. It’s worth considering.

9 — Toyota bZ4X

For our last two models, we cheat, but only a little. Toyota’s bZ4X is currently advertised at $50,050. We won’t quibble over $51. The SUV has been the talk of the town since its debut, and not always for the right reasons. Its interior design isn’t universally admired, and its range remains disappointing, not so much because of what’s advertised, but because of what can be covered, which is often less than what’s promised (especially with the air conditioning on).

10 — Tesla Model 3

Here’s another model currently being advertised at $50,000 and change. The Model 3 needs no introduction, and if you’re a fan of Tesla products, you probably already have one on your shopping list. For the rest of us, a test drive is in order because, for some, the seduction works with this model, which offers a great deal in terms of technology.

electric vehicles under $50,000: Take advantage of subsidies!

Cars are expensive these days. Whether electric or not, monthly payments are quite high and can become very expensive, depending on the vehicle you choose. Considering the subsidies still available at both provincial and federal levels, the timing is excellent if you want to make the transition to electric on a budget!

*Prices as of June 6, 2024. The amounts mentioned in this article may differ from the prices displayed by the various dealers.