New Electric Cars Under $50K

Given their revolutionary technology, EVs are often associated with luxury models. However, there are numerous EVs available at more accessible price points. This article focuses on electric cars with MSRPs under $50k. 

Since some versions of these models may surpass the $50k marker, only the trim levels of those EVs that fall within the $50k umbrella are included here. 

Federal EV incentives alone can deduct up to $7,500 from the purchase price of an EV. Considering that the variables for incentive qualification are both model and buyer-dependent, this article uses the vehicle’s MSRP, not including possible federal, state, and local incentives. 

Nissan Leaf - Find the best Nissan Leaf deals!

Once the best-selling EV in the world, the Nissan Leaf might not garner as much attention anymore, but it’s still a budget-friendly electric vehicle. Having received its last redesign in 2018, the Leaf is one of the oldest designs on this list. However, it’s also the most affordable. 

• With a starting price of $28,140, the Leaf S is priced low not just for an EV, but for any type of vehicle. The Leaf S comes with a 40 kWh lithium-ion battery, 147 hp, 236 lb-ft of torque, and a range of 149 miles.
• At $36,190, the SV Plus adds more comfort and convenience equipment, a 60 kWh lithium-ion battery, additional power in the form of 214 hp and 250 lb-ft of torque, and an increased range of 212 miles. 

Hyundai Kona Electric - Find the best Hyundai Kona Electric deals!

The newly redesigned Hyundai Kona Electric grew 6 inches in length, increasing legroom over its predecessor. Unlike its Kia Niro platform-mate, the Kona offers two different battery sizes and outputs. The smaller battery option enables Hyundai to reach consumers at a lower price point. 

• The $32,675 entry-level Kona SE equips a 48.6-kWh lithium-ion battery which is paired with a 133 hp motor which gives a range of 200 miles. 
• Stepping up to the SEL adds $4k to the price, as well as a longer-range 64.8-kWh lithium-ion battery and a 201-hp motor which increases the range by 30.5% to 261 miles. All versions offer 188 lb-ft of torque. In addition to the added power and range, the SEL also adds a power driver’s seat with lumbar, heated front seats, 2nd row AC vents, a leather-wrapped steering wheel, and rear privacy glass. 
• The Limited is priced at $41,045 and adds H-Tex Leatherette-trimmed seats, a power sunroof, a heated steering wheel, ventilated front seats, wireless device charging, Surround View Monitor (SVM), Remote Smart Parking Assist (RSPA), a Hands-free smart power liftgate with auto-open, and a Bose Premium Audio System.

Kia Niro EV - Find the best Kia Niro EV deals!

Sharing its platform with the Hyundai Kona Electric, the Niro EV is the lowest priced vehicle in Kia's EV lineup. Powered by a front-wheel drive powertrain producing 201 hp and 188 lb-ft of torque, the Niro has an estimated range of 253 miles. 

• The base Wind trim starts at $39,600 while the Wave is priced at $44,600 which adds 17-inch wheels, a Smart Power Tailgate, a heated steering wheel, auto rain-sensing wipers, LED projector headlights and fog lights, as well as roof rails. 

Hyundai Ioniq 6 - Find the best Hyundai Ioniq 6 deals!

Riding on the same platform as the Hyundai Ioniq 5, the sleeker Ioniq 6 is one of the few EV sedans at this price point. Given the 800-volt architecture, DC fast charging is expected to charge the Ioniq 6 to 80% in only 18 minutes. The Ioniq 6 offers SE Standard Range, SE, SEL, and Limited trim levels and there are two single-motor, rear-wheel drive powertrains as well as a dual-motor AWD option.

• With a starting MSRP of $37,500, the rear-wheel drive SE Standard Range delivers 149 hp, 258 lb-ft of torque, and 240 miles of range.
• The $42,450 longer range SE produces 225 hp, 258 lb-ft of torque, and 361 miles of range — the longest range available for the Ioniq 6. 
• The $45,950 dual-motor SE AWD increases power to 320 hp and 446 lb-ft of torque for a range of 316 miles.
• Similar to other Hyundais, the SEL trim adds more equipment including 20-inch wheels, H-Tex® trimmed seats, wireless device charging, Hyundai Digital Key, Blind-Spot Collision-Avoidance Assist (BCA), Forward Collision-Avoidance Assist with Car/Ped/Cyclist Detection, Highway Driving Assist II (HDA2), and Smart Cruise Control (SCC). The rear-wheel drive SEL is priced at $45,250 and the all-wheel drive SEL is $48,750.

Tesla Model 3 - Find the best Tesla Model 3 deals!

The recently refreshed version of Tesla’s venerable Model 3 is its most visually impactful update since its launch in 2017. The 2024 model is distinguished from earlier versions by new LED headlights and taillights, a new interior LED lightbar wrapping from the doors around the dash, and interior material updates to reduce road noise. 

• Priced from $38,990, the Model 3 delivers 271 hp, 310 lb-ft of torque, and 272 miles of range in the standard range single-motor rear-wheel drive model. This version also has a 170 kW Supercharging maximum and can add up to 175 miles of range in 15 minutes. 
• The $47,740 long-range all-wheel drive variant generates 425 hp, 475 lb-ft of torque, and 341 miles of range. The Model 3 AWD adds an additional motor, reaches 60 mph in 4.2 seconds, and has a 250 kW Supercharging maximum capability. 

Summary 

Fortunately, buyers have many sub-$50K EVs to choose from depending on their budget, need for all-wheel drive, equipment preferences, and range requirements.

Matt Yantakosol is a lifelong automotive enthusiast and former consultant focused on the consumer aspect of the industry. He has traveled to New York, Detroit, Chicago, L.A., Paris, Geneva, Frankfurt, and Tokyo Auto Shows to track and observe the newest industry innovations. In addition to JDPower.com, Matt's writing has appeared on Pcarmarket.com.

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