The Electric Cars With the Most Range for the Money Under $40K

Have you heard about that affordable Tesla Model 3? Well, the good news is, the car with a base price of $36,000 might come off the company’s Fremont assembly line someday.

The bad news is, that won’t happen anytime in 2018. For the foreseeable future, Tesla’s lowest-priced model starts at $50,000 and runs over $70,000 if you want AutoPilot.  We don’t need to spell this out, but: Tesla is a luxury automaker until further notice.

If you don’t mind spending close to six figures for a car that can’t drive over 310 miles without charging, then a brand-new Model 3 is probably right for you. For every other electric car consumer, matching base price to total electric range makes sense.

To help out with the purchase process, we broke down the price per mile of range for all-electric cars. Then we looked into the state of the federal tax credits (worth $7,500) to see if buyers could get even more value. Here are the three EVs that offer the best value, going by mile per dollar and taking tax credit availability into account.

Hyundai Ioniq EV

2017 Hyundai Ioniq

The 2018 Hyundai Ioniq Electric starts at $30,385 (including delivery). Matched against its EPA-estimated 124 miles of range, that comes to $245 per mile. Right now, this model is only on sale in California, but Hyundai has a 50-state strategy for the Ioniq EV.

Overall, Ioniq offers decent value for the plug-in driver. When you add in the $7,500 tax credit, it becomes quite a deal (under $24,000, or $184 per mile).

According to EVAdoption, which tracks sales by automaker, Hyundai has yet to even hit 10,000, so there are several years to go before any buyer should be concerned about the tax credit expiring (at least as long as the law stays on the books).

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