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Now, the term вЂњaffordableвЂќ is somewhat subjective. So weвЂ™re going to ease into things by sharing a couple of electric vehicles on the cheaper side, that are currently availableвЂ¦ or soon will be. You may be new to this world, and thatвЂ™s quite alright, weвЂ™re elated to have you here. A 2020 Hyundai Ioniq Electric charging / Source: Electrify America Cheapest electric vehicles currently available

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Oh, and they produce zero emissions, which is a huge plus too. EVs are designed for longevity built around software, rather than mechanics. However, EVs have come a long way in the last decade alone, and there are plenty of solid electric vehicles that are not only cheaper than their ICE counterparts but more technologically advanced. You can certainly go out today and purchase an Internal Combustion Engine (ICE) vehicle thatвЂ™s cheaper than what youвЂ™d pay for an electric vehicle. The price of importing multiple resources and parts from overseas also adds to the overall price an automaker must consider charging consumers in order to make a viable profit. The current EV industry relies heavily on lithium-ion battery cells that are gathered and produced by a select group of manufacturers, like in China, for instance. New developments in battery chemistries and assemblies like solid-state batteries can one day promise cheaper electric vehicles, or at least cheaper manufacturing. Battery packs are vital to the longevity and performance of any electric vehicle, but they are expensive. Supply chains, added features, and overall production costs can all play a part in the MSRP of an EV before its first sale.Д¬urrently, one of the most notable factors in an EVs price is the cost of batteries. There are many factors that contribute to the pricing of electric vehicles in the current global market. We can chat all day about this topic, but that might be better suited for its own post.

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