Car Buying Tips

Cheapest New EVs with Over 400 km of Range: 2024

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As the automotive industry shifts its focus towards electric vehicles (EVs), many Canadians are still rightfully hesitant about making the switch. According to an AutoTrader survey of Canadian car shoppers who would consider an EV, 84 per cent said the ideal range is over 400 km. Of the people who wouldn’t consider an EV, 78 per cent agreed that limited range was the main reason, with purchase cost being the second reason, at 68 per cent. A KPMG study also revealed that 80 per cent of Canadians wouldn’t “consider buying an EV unless it has a minimum 400 km range fully charged.”

But there’s hope for drivers who want an EV that’s both affordable and offers a lot of range. According to Natural Resources Canada’s 2024 Fuel Consumption Guide, here are the most affordable new 2024 EVs to offer at least 400 kilometres of driving range. Note: All prices are Manufacturer Suggested Retail Prices (MSRP) in Canadian dollars, not including government EV purchase incentives, taxes, or other fees.

2024 Hyundai Ioniq 5

The Ioniq 5 may look like a compact hatchback, but the Hyundai EV is as roomy inside as a mid-size SUV. The Ioniq 5 also looks and feels like it’s pushing the EV envelope with innovations like an augmented-reality head-up display and the ability to run electrical appliances when off-the-grid. For 2024, the Ioniq 5 comes with a 77.4-kWh battery. The most affordable trim is the $54,999 rear-wheel drive (RWD) version with 225 horsepower and a driving range estimated at 488 kilometres. Traction at all four wheels is available, but it adds $3,000 to the price and reduces the range to 410 km.

2024 Hyundai Ioniq 6

Based on the same Hyundai EV platform, the 2024 Hyundai Ioniq 6 is the sleeker-looking sedan sibling to the Ioniq 5. The 6’s unique aerodynamic design, which is both stylish and functional, helps it achieve an impressive maximum range of 581 km for the RWD version, using the same 225-hp electric powertrain as the boxier 5 for the same $54,999 starting price. Adding AWD to the Ioniq 6 includes the more powerful 320-hp powertrain and a $3,300 premium to the price. But its 435-km range betters the Ioniq 5 AWD’s estimate.

2024 Polestar 2

Based on the Polestar 2’s half sedan, half hatchback profile, it’s not surprising the EV-only brand is part of the Volvo family. The 2’s compact, five-passenger cabin is stylish and assembled using as many sustainable materials as possible. The most affordable 2024 Polestar 2 is the $54,950 Single Motor RWD version for buyers looking for the best dollar-to-kilometre purchase. It’s powered by an 82-kWh battery generating 299 hp and has the best range in the lineup at 515 km. If you want AWD, the $9,000 more expensive Dual Motor variant adds a second motor to drive the front wheels, a smaller 78-kWh battery, more power (421 hp) but less range (444 km).

2024 Tesla Model 3

The Model 3 was a revolutionary car when it first came out in 2017, giving earlier EV adopters a stylish compact sedan with a lot of range at an accessible price point. Plus, the smallest Tesla offers an engaging driving experience, access to the company’s Supercharger network, and a lot of technology. The 2024 Model 3 starts at $53,990. Like Rolls-Royce, Tesla doesn’t publish power specs, however, the base RWD Model 3 has a maximum range of 438 km. You’ll pay $10,000 more for the Model 3 Long Range Dual Motor AWD version and its extended 549-km driving range.

2024 Tesla Model Y

The Model Y is essentially an SUV version of the Tesla Model 3 sedan with similar styling inside and out. There’s 418 km of range for the base $53,990 RWD trim and 497 km for the $63,990 Long Range Dual Motor with AWD. More practical than its Model 3 sibling, the Y offers the choice of standard seating for five or room for seven with an optional third row. In addition, over-the-air updates can improve features like range, performance, and navigation information throughout any Tesla vehicle’s life.

2024 VinFast VF8

VinFast has recently entered the Canadian EV market. The emerging automaker’s new 2024 VF8 compact SUV is comparable in size to the Hyundai Ioniq 5. The VF8 offers a modern interior design featuring a sizable horizontal touchscreen display in the middle of the dash. In Canada, the VF8 will be available in two trim levels. The base VF8 Eco starts at $53,600 and gets a dual-motor AWD powertrain that produces nearly 350 hp with an estimated range of 425 km. The better-equipped Plus trim costs an additional $5,600 and offers a more powerful 402-hp powertrain but a shorter 356 km range.

2024 Volkswagen ID.4

The ID.4 is the first battery-electric Volkswagen SUV in Canada. A few highlights include an interior with lots of technology, a stylish look, and the everyday practicality of a compact SUV with mid-size interior space. For 2024, the base $49,495 ID.4 with 201-hp and RWD is powered by a single motor via a 62-kWh battery with a ho-hum 332 km range. To meet our 400-km minimum, the $52,995 ID.4 Pro can go up 468 km between charges using the larger 82-kWh battery. Adding AWD to the Pro trim includes a second motor matched with the larger battery combining for 295 hp, an extra $5,000 to the price, and a slight drop in range to 423 km.

2024 Toyota bZ4X

The all-electric bZ4X is the first Toyota to wear the “bZ” (Beyond Zero emissions) designation. Like its RAV4 sibling, the new bZ4X packs plenty of interior space into a compact SUV footprint. The most affordable 2024 bZ4X is the $50,050 LE. Its 71.4-kWh battery generates 201 hp to the front wheels and can be driven up to 406 km before you need a charge. The $5,000 more expensive XLE trim enhances the bZ4X with an AWD system that splits front/rear axle power with X-MODE (a feature shared with the AWD-only Subaru Solterra EV). The XLE also gets 214 hp from a slightly larger 72.8-kWh battery but with a shorter 367 km range.

2024 Hyundai Kona Electric

Smaller and less expensive than the Ioniq 5 SUV and Ioniq 6 sedan, the subcompact Kona Electric SUV shares much with its Kia Niro EV corporate cousin below. Redesigned for 2024 with a roomier interior and updated technology, the Kona can also be had with gas power. The front-drive Electric starts at $46,399, with a 64.8-kWh battery and a 201-hp electric motor, resulting in 420 km of driving range. Like every Kona, the driving experience is enjoyable, the parking experience is easy, it’s very user-friendly, the equipment levels are generous, and the interior is pleasing.

2024 Kia Niro EV

If you’ve been thinking about jumping from gas to electric, the five-passenger compact Kia is a good candidate for your first all-electric car. The Niro has multiple powertrain options and shares the Kona Electric’s EV powertrain. As an electric vehicle, the Niro EV shines for its functionality, decent range, impressive technology, and standard features. Its $45,595 starting price is less than the Kona Electric, but the Kia’s estimated maximum driving range is also less, estimated at 407 km.

2023 Chevrolet Bolt EV

Starting at $38,943, the Bolt EV subcompact hatchback is Canada’s cheapest new electric car, yet it still offers a practical 417-km maximum driving range estimate. The front-drive Chevy EV has a 200-hp electric motor powered by a 65-kWh battery. Even as one of the cheapest new EVs on the market, the cabin of the Bolt EV still has some classiness to it. If you need more room, the slightly larger and more expensive $40,548 Bolt EUV is based on the same platform, but it’s heavier, so the driving range is reduced to 397 km. While the production for the Bolt lineup has technically ended, 2023 models are still available to purchase.