7 Budget-Friendly Electric Vehicles With More Than 300 Miles Of Range

There has never been a better time to consider buying an electric vehicle (EV). That’s because the EV market will be a buyers’ market. Unlike during the pandemic when supply chains were all over the place, car prices were out of wack and business was in favor of dealers. As supply chains normalize and more EVs reach the market, automakers will be more generous in offering incentives and discounts to customers.

In order to reach the mainstream market, manufacturers realized their EVs had to have an estimated range of around 300 miles for it to replace an internal combustion engine (ICE) car. At the same time, there’s a tiny percentage of the market who still prefer passenger cars over crossovers and SUVs. So, if you’re one of those looking for an affordable 300-mile electric car, here are eight models that are budget-friendly and are therefore also the most affordable on the market right now. The total cost can sometimes seem severe,

consider finance or leases
as a short term cost-saving alternative.

UPDATE: 2024/11/25

We have updated the prices and added additional budget-friendly EVs as the market continues to saturate.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources. The models have been listed from most expensive to least based on their starting MSRP.

7

BMW i4 eDrive40 – 301 Miles

Starting MSRP: $57,300

The BMW i4 is likewise not an affordable electric sedan, yet with limited options in this segment, it’s the fourth most affordable electric sedan you could get today. It’s a reflection of how our market loves crossovers and SUVs so much these days. Anyway, the BMW i4, unlike the

Lucid Air
, doesn’t ride on a bespoke EV platform. Instead, it’s literally a 4 Series Gran Coupe with an electric drivetrain. So don’t expect stuff like a front trunk and a flat interior floor. What you can expect, though, is that this comes with a fastback tailgate, and there aren’t many of these left in the United States.

Performance Specifications

Despite those packaging constraints, the i4 is one of the best to drive among the EVs on this list. BMW’s chassis tuning is top-notch, with perfectly-balanced suspension for sportiness and comfort, along with an EV drivetrain with a power delivery that can surprisingly feel linear like an ICE-powered car.

The interior, as typical of BMW, is well-built and premium, though the reduction of physical controls is not something we welcome, especially in the mid-cycle facelift for the 2025 model year. There’s an optional xDrive AWD for the eDrive40, but this reduces its range to a little below 300 miles. Speaking of options, if you want your i4 to look as nice or as high-tech as it could get, you’ll have to tick several optional extras.

Pros

• Top-notch driving dynamics
• Premium interior
• Fastback tailgate increases practicality

Cons

• Swoopy styling limits rear headroom
• Lack of physical controls
• Packaging constraints of a shared platform

6

Polestar 2 Long Range RWD – 320 Miles

Starting MSRP: $49,900

The

Polestar 2 has recently been given a comprehensive mid-cycle facelift
. While the exterior updates are relatively mild, what’s underneath its sheet metal is a comprehensively updated electric drivetrain. The single-motor version of the Polestar 2 used to be front-wheel drive (FWD), but it became RWD after the facelift. The output of the electric motor was increased to 299 horsepower and 361 pound-feet versus the 231 horses and 243 pound-feet it used to produce. Its EPA-estimated range also increased to 320 miles, making this one of the most affordable 300-mile electric cars currently on sale.

Performance Specifications

There are, however, challenges for the Polestar 2. Financially, the Polestar brand for 2023 only experienced a break-even. With only one sedan being its volume seller at the moment (the Polestar 3 and Polestar 4 are yet to be sold in the United States), the Swedish electric automaker doesn’t yet have a volume seller in the crossover SUV segment–undoubtedly the hottest segment right now. This is further compounded by the fact that Tesla’s Model 3 practically owns the compact electric sedan segment. Even if the Polestar 2 is better than ever, it’ll need more than just a comprehensive update in order to steal the limelight from Tesla.

Pros

• Excellent range
• Well-built interior
• Top-notch Google-developed infotainment

Cons

• More expensive than Tesla Model 3
• Lack of physical controls inside
• Öhlins dampers are not a DIY job

5

Tesla Model Y – 337 Miles

Starting MSRP: $44,990

The Model Y is Tesla’s mid-sized electric SUV, offering Tesla’s cutting-edge tech, and strong performance. Making it an excellent choice for highway commuters who want to stick it on autopilot and enjoy the ride. The Model Y doesn’t deviate from Tesla’s distinctive design language, making a bold statement on the road.

Performance Specifications:

The

Tesla Model Y RWD impresses with its EPA-estimated 337 miles of range
, aligning closely with competitors like the Mustang Mach-E.

Tesla’s proprietary Supercharger network
offers a significant advantage for charging infrastructure, ensuring drivers can enjoy long trips with minimal hassle. While the interior focuses on simplicity, it includes Tesla’s signature 15-inch touchscreen that integrates entertainment, navigation, and vehicle controls in a single futuristic interface.

Pros:

• Extensive Supercharger network
• Efficient range and quick acceleration
• Minimalist, futuristic interior design

Cons:

• High price for options and upgrades
• Limited physical controls may not suit all drivers
• Build quality can be inconsistent

4

Tesla Model 3 – 363 Miles

Starting MSRP: $44,130

The Tesla Model 3 is the segment’s favorite when it comes to electric compact sedans. The Model 3 is so popular, partly because of the Tesla brand appeal, but also due to its excellent efficiency, which explains its excellent range, along with the most comprehensive charging infrastructure network in the United States. The newly-released Model 3 Performance is the only Model 3 eligible for a $7,500 tax credit.

Performance Specifications

Even then, it still offers plenty of value at its price point. The improved refinement and handling, as well as the improved interior are welcome upgrades for the Model 3. The interior, however, as nice as it looks, isn’t on par with something like a BMW i4 or even the Polestar 2, and in some ways, the next vehicle on this list has better build quality.

Pros

• Extremely efficient
• One of the best-value EVs
• Improved handling and comfort

Cons

• Some cheap plastics
• Lack of physical controls
• No smartphone integration features

3

Ford Mustang Mach-E Extended Range – 320 Miles

Starting MSRP: $43,895

The

Ford Mustang Mach-E
marks Ford’s bold entry into the electric space. Yes, naming it

‘Mustang’
has sparked conversations among enthusiasts, we here you. Model name aside, the Mach-E is a sporty, mid-sized EV that comes at an affordable cost. As a rear-wheel-drive variant, it offers a dynamic driving experience while delivering the practicality of a crossover SUV. With its distinctive design, advanced technology, and impressive range, the Mach-E caters to enthusiasts that need something more practical and everyday drivers seeking an eco-friendly yet exhilarating ride.

Performance Specifications:

The Ford Mustang Mach-E, available in both Standard and Extended Range options, offers flexibility to suit various driving needs. The Extended Range variant provides an EPA-estimated 320 miles, making it competitive among electric SUVs. Its single-motor RWD setup delivers a sensible driving experience, while the spacious interior and infotainment system enhance overall comfort and connectivity.

Pros:

• Impressive range
• Engaging driving dynamics
• Advanced technology

Cons:

• Charging infrastructure
• Interior material quality
• Poor rear visibility

2

Hyundqi Ioniq 6 SE RWD – 361 Miles

Starting MSRP: $37,750

The high-coveted and award-winning

Hyundai Ioniq 6 may be the most affordable electric sedan
on this list, but that doesn’t mean it isn’t any good. In fact, it is better in some ways than the aforementioned Tesla Model 3 Long Range AWD. There’s the car’s 800-volt architecture that allows for DC fast charging speeds of up to 350 kW (assuming, of course, you could find a charger that fast), plus it also has bidirectional charging capabilities. With its vehicle-to-load (V2L) feature, the Ioniq 6 can act as an external power source, which is perfect for camping, powering your home if there’s a power outage, or even charging another EV, all-be-it, at a slow pace.

Performance Specifications

Let’s talk about the Ioniq 6’s looks. Its slippery shape, which gives it a drag coefficient of 0.21 Cd makes it one of the most aerodynamic sedans on sale, though the Model 3, at 0.219 Cd is still more aerodynamic. The retrofuturistic styling easily stands out, too. While looks are subjective, I’m one of the big fans of the Ioniq 6’s looks–if it had the nice 20-inch wheels. The 18-inch wheels are what’s fitted in the SE that you see here, which also allows it to have such a long EPA-estimated range of 361 miles. However, the 20-inch wheels simply look better on the Ioniq 6, is the range loss worth the trade-off for the better looks? You decide.

Pros

• Extremely efficient
• Ingenious 800-volt architecture
• Class-leading charging speeds

Cons

• Styling isn’t for everyone
• Missed opportunity for a fastback tailgate
• A few cheap interior materials

1

Chevrolet Equinox EV LT FWD – 319 Miles

Starting MSRP: $34,995

The Chevy Equinox EV is a value-packed entry in the growing EV crossover market. While it may not be the flashiest or fastest, it offers practicality, range, and affordability that make it a solid choice for everyday use. Built on a common GM platform, the Equinox EV is a tried and tested platform, designed to cater to families and commuters looking for a well-rounded electric vehicle.

Chevrolet didn’t just focus on the numbers; it made

the Equinox EV
a truly functional vehicle. The crossover’s spacious interior provides ample cargo room, while its clean, tech-forward dashboard features a 17.7-inch infotainment screen that’s bigger than what you find in a Tesla. Chevy’s Super Cruise hands-free driving system is also available, making long highway trips a breeze.

Pros

• Impressive value for price
• Solid range for its segment
• User-friendly interior and technology

Cons

• Limited to FWD in this trim
• Slower charging speeds compared to premium rivals
• Conservative styling may not excite