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cheapest electric vehicles in Canada
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Jan 25, 2024

Cheapest Electric Cars in Canada

Electric vehicles are getting more and more affordable. Are you thinking about trading in for something that doesn't depend on fossil fuels? We compiled a list of the cheapest battery electric vehicles (BEV) available in Canada right now.

With all the talk of EV rebates and incentives in the news these days, you may be wondering what you're able to afford. If you’re looking for the most affordable, iZEV-approved battery electric vehicles (BEV), consider these for all under $50,000 MSRP (Manufacturer’s Suggested Retail Price): Hyundai IONIQ 5 and KONA, Kia Niro and Soul, Volkswagen ID.4, Nissan Leaf, Chevrolet Bolt, and the Mini Cooper SE.

Good news for Tesla Model 3 shoppers. When we first posted this story, it was priced at $59,990 and unfortunately wasn't eligible under the iZEV Program. Now, it's priced under $55,000 as Tesla has slashed the MSRP across their lineup, so the Model 3 is now significantly cheaper than ever with the new EV rebate.

Your EV rebate amount depends upon the province you live in. We take a closer look here - How To Get Your Electric Car Rebate in Canada

What are the most affordable electric vehicles in Canada right now?

Hyundai IONIQ 5

2022 Hyundai IONIQ 5 | Photo: Amee Reehal 

MSRP: $48,999 CAD (previously $44,999 CAD)

Range: maximum 488 kilometres with larger Long Range lithium-ion polymer 77.4-kWh battery

Boasting outstanding acceleration (0-100km in 5.1 seconds) and an entire suite of standard Hyundai SmartSense safety features, this powerful and generously-sized battery electric hatchback offers 488km range on a single charge. And, the new IONIQ 5 interior is both clean and stylish.

Good for everyday practical driving, the IONIQ 5 has an MSRP of $48,999 and qualifies for the $5,000 federal rebate, plus provincial and territorial incentives. For example, If you're in BC, you can get both a $5,000 federal rebate and a $3,000 provincial rebate. In Quebec, you could get up to $13,000 in rebates altogether.

Here's our full 2022 Hyundai IONIQ 5 Review. Or just a quick look at the IONIQ 5 specs and features here.

Hyundai KONA Electric

2022 Hyundai KONA Electric | Photo: Nissan 

MSRP: $46,551 CAD (previously $44,999 CAD)

Range: 415 kilometres 

Featuring that distinctive grille design and 17" alloy wheels, the current KONA offers 415 kilometres, and plenty of horsepower for when you feel the need for speed. This model comes with an MSRP of $46,551 and qualifies for the same $5,000 federal rebate, plus provincial and territorial incentives, as the IONIQ 5.

If you like the KONA and impartial to electric power, take a look at our 2022 Hyundai Kona N Review - a sporty hatch boasting 276 horsepower.

Kia Niro EV

2022 Kia Niro EV | Photo: Kia 

MSRP: $47,883 CAD (previously $44,995 CAD)

Range: 407 km (up from 385 kilometres)

The Kia Niro could be a good choice for those looking for a roomier EV option within the Kia SUV model lineup. There’s lots of space in this 5-passenger SUV – great for families or those who are habitual haulers. Its MSRP starts at $47,883 for the 2022 model, with up to $13,000 in electric vehicle rebates depending on which province you live in. The Kia Niro EV offers up to 407 kilometres on a full charge.

If you're willing to spend more money (a lot more) on an electric Kia, check out our 2023 Kia EV6 GT Review. It's the most powerful production Kia in history, putting down 576 hp and 545 lb-ft of torque from an all-electric powertrain.

Kia Soul EV

2023 Kia Soul EV | Photo: Kia 

MSRP: $45,933 CAD (previously $42,995 CAD)

Range: 383 kilometres 

Kia’s ultra-popular Soul model comes in an EV version that’s also going to appeal to those who need to haul around kids, lots of gear, or both. The range can go as far as 383 kilometres on a full charge, which is a bit less than its Niro EV sibling. Its MSRP starts at $45,933 and is eligible for up to $5,000 in federal rebates, plus extra rebates depending on your province or territory.

Here's a full look at the Kia Soul EV specs and range.

Volkswagen ID.4

2023 Volkswagen ID.4 | Photo: VW 

MSRP: $46,065 CAD (previously $44,995 CAD)

Range: 400 kilometres 

The vaunted German automaker's latest foray into full electric is this emission-free all-electric SUV. At 400km, the ID.4 boasts one of the highest ranges on this list, and comes with a retail price of $46,065. If you're interested in an SUV, you'll be glad to hear that this model is eligible for federal and provincial rebates, so what are you waiting for?

Here's our complete look at the ID.4's specs and electric range.

Sell your car (the easy way)

If you're thinking about buying a new car, you might be looking to sell your old car. You can sell you car directly to Canada Drives and skip the hassle of haggling and dealing with strangers. Get an instant cash offer online for your vehicle today. 

Nissan LEAF

2023 Nissan LEAF | Photo: Nissan 

MSRP: $41,248 CAD (previously $37,498 CAD)

Range: maximum 340 kilometres 

Note: The 2023 LEAF is all-new and redesigned. 

The revamped Nissan LEAF hatchback is attractive and practical, plus it’s one of the few EVs that has stood the test of time, adding to the growing Nissan SUV lineup. With its 40kWh battery and 147hp, the base Nissan LEAF SV offers an all-electric range of 240km. The 2023 Nissan LEAF SV PLUS and SL PLUS feature a larger-capacity 60-kWh lithium-ion battery and a powerful 160-kW electric motor that produces 214 horsepower and 250 lb-ft of torque. NRCan range estimates for three models will be available closer to launch, however range is expected to be similar to 2022 models.

The LEAF's $41,248 CAD MSRP (starting price) makes it an extremely popular choice, and that’s before the $5,000 federal rebate and any provincial programs.

Here's the new 2023 Nissan LEAF's specs and range.

Chevrolet Bolt EV

2023 Chevrolet Bolt EV | Photo: Chevrolet 

MSRP: $41,147 CAD (previously $38,198 CAD)

Range: 417 kilometres 

Note: the 2023 model is all-new and redesigned; the range specs remain the same.

The bowtie-brand’s all-electric Chevrolet Bolt EV hatchback is as sensible as it is efficient. An advanced 65 kWh lithium-ion battery pack helps the Bolt EV deliver an estimated range of up to 417 km on a full charge, making it the ideal choice for anyone worried about range for road trips and long commutes. It comes with a reasonable starting price of $41,147 CAD. With the $5,000 federal rebate and any potential provincial rebates or EV incentives, the Chevrolet Bolt EV offers excellent value.

Mini Cooper SE

2022 Mini Cooper SE | Photo: Mini 

MSRP: $40,990 CAD

Range: 183 kilometres 

Another compact EV that won’t break your bank account is the Mini Cooper SE. Its MSRP starts at $40,990. This vehicle will appeal to city drivers looking for a peppy plug-in that looks good parked outside the craft brewery. Its specs boast a 183-kilometre range and a quick 35-minute charge for when you’re watching the clock. Buyers can expect up to $13,000 off the price with federal and provincial rebates where applicable.

Read our full Mini Cooper SE review here.

What is the cheapest Tesla?

Tesla Model 3

2023 Tesla Model 3 | Photo: Tesla 

MSRP: $54,990 CAD (previously $59,990 CAD)

Range: 430 kilometres 

The cheapest Tesla model available in Canada, the Tesla Model 3 is a high-performance luxury electric car, even the ‘entry-level’ Model 3—a RWD sedan with awesome interior tech and sleek styling. Reaching top speeds of 225km per hour, the Model 3 (RWD) has a 430km range.

The Model 3 now kicks off at $54,990 (down from $59,990) before options. This makes it eligible for the federal $5,000 rebate for electric cars. If you live in a highly incentivized province like Quebec, you can get up to $12,000 off the purchase of a new Model 3. And while the Performance model isn’t eligible for any rebates, it sees an even bigger price drop, down from over $80,000 to $72,990.

Here's our full 2023 Tesla Model 3 review and driving impressions. 

Ready to buy an affordable, used EV?

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