A decade ago, leading electric vehicle (EV) maker Tesla barely sold any cars. Today, its annual sales have accelerated toward 500,000. Every major auto manufacturer is chasing it. In America, these include Ford and General Motors. The largest companies in Germany, Japan and South Korea are also in the race, and start-ups like Nio also hope to vie with Tesla.
To show how seriously car companies take the electric car market, most have said that more than half their fleets will be EVs by 2030. This will require investments well into the tens of billions of dollars. Early successes include the launch of a version of the best-selling vehicle in America, the Ford F-Series pickup. The EV model is about to hit the market.
Many EVs are extremely expensive. A high-end Tesla costs over $100,000. However, some are unusually affordable, although these vehicles are in a minority.
There are plenty of benefits to purchasing an EV. While they generally are more expensive than comparable conventional vehicles, the U.S. Department of Energy predicts that prices will equalize as production volumes increase and battery technologies continue to improve. EV owners also can apply for incentives and tax credits. And, with gasoline prices soaring, the cost of charging an EV often is less than filling up a gas tank.
EVs also emit far fewer emissions than conventional gas-powered vehicles. All-electric vehicles produce zero tailpipe emissions, and plug-in hybrid electric vehicles produce none when in all-electric mode. If battery life is a concern, note that the Energy Department estimates that today’s EVs will be able to last 12 to 15 years without a battery change in moderate climates, with the technology continuing to improve.
To find the cheapest electric vehicle you can buy, 24/7 Wall St. reviewed Cars.com’s Here Are the 11 Cheapest Electric Vehicles You Can Buy report. All data is from Cars.com. The most expensive car on the list has a starting price of nearly $45,000. This is less of a financial investment than many might think when first considering an electric vehicle, and it is one that is better for them, and the planet, in the long term.
The cheapest electric vehicle is the Nissan Leaf. Here are the details:
- Starting price: $28,425
- EPA-estimated range: 149-226 miles
- Eligible for federal plug-in credit: Yes
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