Electric cars are finally starting to become more affordable. For a long time, electric vehicles (EVs) were hitting the market but still came with high price tags. Nowadays, the focus has shifted from just creating the first wave of EVs to actually competing in the market. Price plays a crucial role in this competition, so as we approach a second, broader wave of electric vehicles, we can look forward to seeing some great, budget-friendly models.
Several budget EVs have already been announced and are expected to be released soon—many of these new models have us quite excited. Of course, the term “budget” can mean different things to different people. Still, here are five affordable electric vehicles we’re eager to see on the roads.
First up is the Chevrolet Bolt EV, which has been considered the go-to budget EV since it first came out. When Chevrolet announced it was discontinuing the Bolt, many people were upset. Thankfully, Chevrolet reversed its decision and announced a redesigned Bolt EV, expected to be released as a 2025 or 2026 model. The last version was the 2023 Bolt EV, so a fresh design could be very exciting. While earlier models offered excellent value, they weren’t exactly the most attractive cars. The new Bolt EV will be built on the Ultium EV platform and is expected to offer a reliable range at a low price, similar to past models. Given that previous Bolts started at under $30,000, we’re hoping the new model will come at a similar price. Meanwhile, the Chevrolet Equinox EV is also available and offers great value.
Kia has been a significant player in the mainstream EV market with models like the EV6 and the newer EV9. The upcoming EV3 will be the company’s entry-level model, featuring many of the same design elements and a comfortable interior at a lower price. Essentially, it’s a scaled-down version of the EV9. While we don’t know much about the EV3 yet, it’s expected to offer around 300 miles of range and cost less than $40,000, ideally closer to $30,000. More details will likely be revealed when the car is released in Korea soon.
The Volvo EX30 could be the best-looking “budget” EV yet. While it’s already available in some areas, it hasn’t hit the U.S. market, making it “upcoming” for us. The EX30 features a sleek Volvo design with Android Automotive integrated into its large display. While we don’t yet have EPA ratings for its range, Volvo estimates 275 miles for single-motor models and 265 miles for dual-motor models. Our initial drive showed it offers a comfortable ride and a quiet interior. Expected to start at $34,950, it’s a great price for such a stylish EV. It can be reserved now, with deliveries expected to begin in the summer.
Rivian is another beloved EV maker, gearing up to release more affordable models for the masses. While the R2 is set to launch in the first half of 2026, what’s even more exciting is the cheaper R3, expected to launch in late 2026 or early 2027. The R3 will be smaller and have a crossover shape but will still feature Rivian’s signature design elements, like oval headlights. While we don’t know much about its specs, Rivian has suggested that long-range models will surpass 300 miles of range. Pricing details aren’t available yet, but with the R2 expected to cost around $45,000, we’re hoping the R3 will come in under $40,000.
Finally, electric SUVs, while generally more expensive than smaller EVs, are also becoming more affordable. The Hyundai Ioniq 9 is poised to compete with the Kia EV9 as a less expensive alternative to models like the Rivian R1S. The Ioniq 9 will likely include features from other Hyundai EVs, such as the pixel design seen in the Ioniq 5 and 6. It’s expected to have a stylish interior, three rows of seats, and a good range. While it won’t be cheap, it will be less expensive than many other electric SUVs, hopefully paving the way for more affordable SUVs in the future. The Ioniq 9 is expected to start at around $55,000.