America, Here Are Your Cheapest EVs by Miles of Range

This method of calculating the value of an EV takes into account the Manufacturer Suggested Retail Price (MSRP) and divides it by Environmental Protection Agency's (EPA) data about range. Where applicable, it includes the federal tax credit.

If you’re wondering why this is a good strategy to buy a car, then you should know that the battery in almost all EVs is now the most expensive and important component. Nothing can happen without it. That’s also why an increasing number of customers are looking at the warranty offered by manufacturers of this type of car. They want to know how many miles they can drive before the chemistry is inevitably leading to the decaying of the metals and other parts found inside.

With the rising costs of raw materials, the unstoppable supply chain issues, and the logistics nightmare that almost all auto companies face right now, determining which vehicle has the lowest MSRP per mile of range is a good way of deciding how you want to spend your money for personal, zero tailpipe emissions transport. If you’re keen on keeping the costs of buying a new vehicle under control, then here’s the easiest way to do it.

But before we dive in further, you should keep in mind this is an analysis based on MSRPs and official EPA consumption data only. These values are permanently subject to change, and they do not include various trims or other locally available incentives for buying an all-electric car. Moreover, we already know that official estimates for how long you can drive on a full charge are rarely accurate.

Your next EV might be here

Without any drumrolls, the cheapest EV you can buy right now based solely on MSRP divided by miles of range and after the federal tax credit has been applied is… The 2022 Hyundai Kona EV! It offers 258 mi (415 km) of range and costs $34,000. This means you pay $103 for every mile you get to drive on a full, new battery.

The second EV that offers a very attractive price point is another Hyundai – the cool, retro yet futuristic, Ioniq 5 SE. This Crossover Utility Vehicle (CUV) does a good job at promoting the EV lifestyle by putting looks in combination with a newly developed platform to attract everyone that considers moving to a different type of propulsion. With an EPA range of 303 mi and a price of $43,650 that includes the federal tax credit, you’ll get a cost of $119 per mile of range.

Looking at how things are shaping up for Hyundai in the sales department, you should think about ordering one soon. The federal tax credit of $7,500 is only available for the first 200,000 EVs sold in the U.S. Afterwards, all you get are local incentives and dealer discounts. The latter is almost impossible to find nowadays because these cars are selling like hotcakes.

Hyundai’s dominance in the affordability department stops here for now. The Volkswagen ID.4 Pro is completing the podium. Even though it has a cheaper MSRP than the Ioniq 5 SE, this EV sits in third place because it offers an EPA range of 280 mi – 23 mi less than the aforementioned Hyundai. This German representative will ask you for $41,230, and in return, it’ll give you a cost per mile of $120.

At this point, you might wonder if the Nissan Leaf S Plus isn’t somehow ignored on purpose for this exercise. If you did ponder about it, then you were right. This EV is still eligible for the federal tax credit, but its battery pack ensures an EPA rage of just 226 mi. To make sure you’re looking at cars that can take you further than the Leaf, we looked at those that only sit above the 250 mi threshold.

The decision is yours!

Coming back to our next EV that might turn into a good buy for someone that wants to maximize the use of their money, we’re meeting the Chevrolet Bolt EV on the fourth spot. The $31,500 MSRP and the EPA range of 259 mi means you’ll get a cost of $122 per mile of range.

But here’s something interesting! Ioniq 5’s brother from another mother or sister from another mister, the KIA EV6 RWD, is sitting at an MSRP of $51,200 while having an EPA range of 310 mi. This translates into a price per mile of $141, which is $22 more per mile than the Hyundai. Things might change when you add different options or choose different trims and various powertrains, but as you can see right here, Kia’s not being very competitive.

That may be why the Korean carmaker decided to promote the EV6 as a stylish, more powerful all-electric car. Meanwhile, Ioniq 5 gets some tough love from the brand but remains an attractive offer.

The top 10 electric vehicles that offer the best cost per mile continue with the Polestar 2 ($142), the Ford Mustang Mach-E CR1 ($148), the Tesla Model 3 Long Range ($156), The BMW i4 eDrive40 ($159), and the Lucid Air Pure ($172).

If you’re curious about how the cars with battery packs and motors that can’t ensure traveling further than 250 mi perform, then you’ll have to check the spreadsheet that includes even more cars. For example, you could see how the Tesla Model X performs in this test.

In the end, you must remember this is just a creative yet simple way of determining which new EV could be the best bang for your buck. Factors that people consider when acquiring a new car are many and remain diversified across the states, but the price is among the most important.

Safe travels!