Affordable Electric Vehicles Available for Under $35,000 Revealed

Affordable Electric Vehicles Available for Under $35,000 Revealed

The electric vehicle (EV) market is growing rapidly, but for many potential buyers, the high price tag of current models remains a barrier. However, there are a few affordable options on the horizon, with some exciting announcements from big names in the automotive industry.

Firstly, Slate Auto, a new American automaker backed by Jeff Bezos, is planning to build a basic electric vehicle with a starting price between $20,000 and $30,000. Although the exact release date is not specified, this development highlights the growing effort to introduce affordable options in the EV market.

In addition to Slate Auto, Ford is set to release a midsize electric pickup truck in 2027 for about $30,000. This truck will utilize the new Universal EV Platform and offer advanced features like fast charging and a significant range.

Unfortunately, as of now, there aren't many upcoming models priced strictly under $30,000 for release after 2025. However, used options like the Tesla Model 3 or existing models like the Nissan Leaf remain affordable choices.

The Nissan Leaf, the first mass-market electric vehicle, helped spur global interest in EVs. The 2025 Nissan Leaf starts at $28,140 and has a range of 212 miles, making it a viable option for many drivers.

For those who are not quite ready to make the full switch to electric, there's also the option of a plug-in hybrid. These vehicles offer the benefits of electric power with the convenience of a gasoline engine for longer trips.

However, owning an EV can still come with additional costs. For instance, the Leaf's charging port is not compatible with many public chargers, according to Edmunds. Additionally, it can be pricier to insure an EV - data collected by Insurify shows that EVs cost more than $4,000 to insure per year. For first-time EV owners, it can cost up to $2,000 to install a home charger.

Despite these costs, it's important to consider the long-term benefits of owning an EV. Depending on where you live and the type of driving you do, it can be cheaper in the long run to own an EV. Moreover, vehicles that burn gasoline or diesel are a major contributor to human-caused climate change.

The $7,500 tax credit for buyers of new electric vehicles expires in September, so if you're considering making the switch to electric, now might be the time. The average price of a new electric vehicle in the U.S. is $56,910, according to the latest data from Kelley Blue Book. However, with the increasing number of affordable options on the horizon, this average price is likely to decrease in the coming years.

In the second quarter of 2021, 703 high-speed public charging stations opened in the U.S., close to a record. This shows that the infrastructure for electric vehicles is improving, making it easier and more convenient for drivers to switch to electric.

In conclusion, while the cost of electric vehicles remains a concern for many potential buyers, there are affordable options on the horizon. With the increasing number of charging stations and the expiration of the tax credit for electric vehicles, now might be the perfect time to consider making the switch to electric.

1. Slate Auto, a new automaker backed by Jeff Bezos, plans to release an affordable electric vehicle with a starting price between $20,000 and $30,000.
2. Ford is also entering the electric vehicle market, with a midsize electric pickup truck expected in 2027 for around $30,000.
3. Unfortunately, there aren't many upcoming electric vehicle models priced below $30,000 for release after 2025, but the Tesla Model 3 and Nissan Leaf remain affordable options.
4. The Nissan Leaf, a mass-market electric vehicle, has a starting price of $28,140 and a range of 212 miles, making it a viable option for many drivers.
5. For those not ready to fully switch to electric, plug-in hybrid vehicles offer the benefits of electric power with the convenience of a gasoline engine for longer trips.
6. However, owning an electric vehicle can come with additional costs, such as pricier insurance, installation of a home charger, and compatibility issues with public chargers.
7. Despite these costs, considering the long-term benefits is essential; electric vehicles can be cheaper in the long run and help combat human-caused climate change.
8. The tax credit for buyers of new electric vehicles expires in September. With the increasing number of affordable electric vehicle options and improving charging infrastructure, this could be a good time to switch to electric vehicles.

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