With the increasing popularity of electric vehicles in Canada, many consumers are looking for affordable options that fit their budgets. Fortunately, with government incentives and rebates, purchasing an electric vehicle at a lower cost is now possible. Maybe you’ve been considering moving away from that fossil fuel-burning beauty.
In this article, we will explore the cheapest electric vehicles available in Canada and highlight their notable features, benefits, and other information that can help you make an informed decision. We will also discuss government rebates and incentives available to make purchasing an electric vehicle more accessible and affordable.
Whether you want to reduce your carbon footprint or save money on fuel costs, switching to an electric vehicle can be a wise investment, and we’re here to help you find the best option for your needs.
What are the Cheapest EVs in Canada?
Here are the ten cheapest electric cars available in Canada, along with their notable features, why they are a good choice and other information that may help save you money:
Chevrolet Spark EV
The starting price for the Chevrolet Spark EV is around $20,000. However, it has a range of approximately 82 miles on a single charge, making it ideal for city driving. It is a good choice for those who want a small, affordable electric car that can easily park and maneuver in urban areas.
This is the less expensive version of the old Chevrolet Bolt EV, with a more economical model for city drivers, perhaps a good candidate for affordable first cars to buy that’s an EV.
Smart EQ Fortwo
If you don’t mind the size of a tiny smart car, then the Smart EQ might be your choice.
The Smart EQ Fortwo has a starting price of around $21,000. However, it has a range of approximately 70 miles on a single charge, making it another excellent option for city driving. In addition, its small size makes it easy to navigate through tight spaces, and it has a quick-charging option that allows it to be charged to 80% in just 40 minutes.
Hyundai Ioniq Electric
The Hyundai Ioniq Electric has a starting price of around $37,000. However, it has a range of approximately 170 miles on a single charge, making it a good option for those who need a car with a more extended range. It also comes with features such as wireless charging for your smartphone and a rearview camera.
Nissan Leaf
The Nissan LEAF has been a popular electric vehicle since 2010. The latest model, the 2022 LEAF, has a range of up to 225 miles (362 km) on a single charge, significantly improving over previous models.
The LEAF has a starting price of around $38,398, which makes it one of the more affordable electric vehicles on the market. It also has features such as a 7-inch touchscreen display, a rearview camera, and advanced safety features such as automatic emergency braking and blind-spot warning.
Kia Niro EV
The Kia Niro EV has a starting price of around $40,000. However, it has a range of approximately 239 miles on a single charge, making it an excellent option for those who need a car with a long range. It also has features like Apple CarPlay, Android Auto, and a rearview camera.
Kia Soul EV
The Kia Soul EV is a popular electric vehicle with a unique blend of style, practicality, and efficiency. It has a range of approximately 383 km on a single charge, making it a practical option for daily commuting and longer trips.
The Soul EV has a starting price of around $44,195, making it a more affordable option than some other electric crossovers on the market. It also has features such as a 10.25-inch touchscreen display, a rearview camera, and advanced safety features such as forward collision warning and automatic emergency braking.
Volkswagen ID.4
The Volkswagen ID.4 has a starting price of around $44,995. However, it has a range of approximately 250 miles on a single charge, making it a good option for those who need a car with a longer range. It also has features like a panoramic sunroof, a rearview camera, and adaptive cruise control.
Tesla Model 3
The Tesla Model 3 has a starting price of around $44,990 making it the cheapest Telsa. However, it has a range of approximately 263 miles on a single charge, making it a great option for those who need a car with a long range. It also has features like a large touchscreen display, a rearview camera, and automatic emergency braking.
Hyundai KONA Electric
The Hyundai Kona Electric is a popular electric SUV that has been well-received in the Canadian market. It has a range of approximately 415 km on a single charge, making it a practical option for those needing a longer range vehicle. It also has a fast charging option to charge the battery to 80% in just 54 minutes.
The Kona Electric has a starting price of around $46,099, making it a more affordable option than some of the other electric SUVs on the market. It also has features such as a 7-inch digital instrument cluster, a rearview camera, and advanced safety features such as forward collision warning and automatic emergency braking.
Ford Mustang Mach-E
Our following three selections are a good value for a more luxurious ride. First, the Ford Mustang Mach-E has a starting price of around $50,495. However, it has a range of approximately 230 miles on a single charge, making it a good option for those needing a longer-range car. It also has features like Apple CarPlay, Android Auto, and a rearview camera.
Audi e-Tron
The Audi e-Tron has a starting price of around $69,995. However, it has a range of approximately 222 miles on a single charge, making it a good option for those who need a car with a longer range. It also has features like a panoramic sunroof, a rearview camera, and automatic emergency braking.
Porsche Taycan
The Porsche Taycan is a luxury electric vehicle with impressive performance and advanced technology. It has a range of approximately 323 km on a single charge and can accelerate from 0 to 100 km/h in just 5.1 seconds.
The Taycan has a starting price of around $120,000, making it a high-end option compared to other electric vehicles. In addition, it has a 10.9-inch touchscreen display, a panoramic glass roof, and advanced safety features such as adaptive cruise control and lane departure warning.
Have Electric vehicles gotten less expensive in Canada?
Yes, electric car prices have decreased in the last few years. As the technology behind electric cars continues to improve, the cost of producing them has fallen, reducing the price of electric vehicles.
Additionally, as more and more automakers enter the electric vehicle market, there is increased competition, which has also reduced prices. Government incentives and subsidies aimed at promoting electric vehicle adoption have also helped make electric cars more affordable for consumers.
Overall, the price of electric cars has decreased significantly in recent years. This trend is expected to continue as the technology behind electric vehicles continues to improve, and more automakers enter the market.
What’s the least expensive Tesla?
The least expensive Tesla to buy in Canada was the Model 3 Standard Range Plus, which had a starting price of $44,990 before any applicable government incentives or rebates.
Over the past few years, Tesla has made efforts to make their electric vehicles more affordable for consumers. The release of the Model 3 in 2017, which has a lower price point than Tesla’s other models, was a significant step in this direction. Additionally, Tesla has implemented various cost-saving measures in their production process, such as increasing efficiency and reducing waste, which has also helped to bring down the cost of their vehicles.
However, it’s important to note that even with these efforts, Tesla vehicles are still not considered economy vehicles. The starting price for a Tesla Model 3 is still higher than many other electric vehicles on the market, and the price for other Tesla models can be even higher. Tesla’s focus on high-end features and technology means that their vehicles are generally priced at a premium compared to more basic, practical vehicles.
What Rebates are available for new EVs in Canada?
In Canada, several government rebates and incentives are available for electric vehicles (EVs) at the federal and provincial levels. Here is a brief overview of some of the most common incentives:
Federal iZEV Program
The federal government offers a rebate of up to $5,000 on the purchase or lease of eligible zero-emission vehicles, including battery electric vehicles, hydrogen fuel cell vehicles, and plug-in hybrid electric vehicles with an all-electric range of 75 km or more. The rebate amount varies depending on the vehicle’s battery capacity and base model price.
Provincial Incentives
Many provinces in Canada offer their own incentives for the purchase of EVs. For example, in British Columbia, eligible EVs can receive up to $3,000 in rebates, while in Quebec, eligible EVs can receive up to $8,000 in rebates.
Municipal Incentives
Some municipalities also offer their own incentives for EVs. For example, the City of Toronto offers free residential parking permits for eligible EVs, and the City of Vancouver offers free charging at city-owned EV charging stations.
Green Energy Equipment Tax Credit
The federal government offers a tax credit of up to $500 to purchase and install EV charging stations for home use.
It’s important to note that the availability and amount of government incentives can vary depending on your province or territory, and each program’s specific requirements and eligibility criteria may differ.
Are EVs cheaper to own than gas vehicles?
Electric vehicles (EVs) can be cheaper to own and operate than gas-powered vehicles.
This is because electric motors are more efficient than internal combustion engines, meaning that EVs use less energy to travel the same distance as gas-powered vehicles. As a result, the cost of “fueling” an EV is typically lower than that of a gas-powered car.
In addition to lower fuel costs, EVs have fewer moving parts than gas-powered vehicles, requiring less maintenance and having a lower risk of mechanical failures. This can translate to lower maintenance costs over the life of the vehicle.
Furthermore, EVs are often eligible for government incentives and subsidies, which can further reduce the upfront cost of the vehicle. Some provinces in Canada also offer rebates or tax incentives for purchasing EVs, which can help to offset the higher initial purchase price.
However, it’s important to note that the total cost of owning an EV can still depend on various factors, such as the purchase price, battery replacement costs, charging infrastructure availability, and individual driving patterns. In some cases, gas-powered vehicles may still be a more cost-effective option for certain drivers, depending on their needs and circumstances.
Are hydrogen fuel-cell vehicles (FCV) expensive?
Hydrogen fuel cell vehicles are another zero-emission vehicle that uses electricity to power an electric motor. Still, instead of storing the electricity in a battery, they generate it through a chemical reaction between hydrogen and oxygen in the fuel cell.
While hydrogen fuel cell vehicles have some benefits, such as zero emissions and long driving range, they currently face challenges that make them less practical and more expensive than battery electric vehicles (BEVs). These challenges include:
- Limited refuelling infrastructure: The availability of hydrogen refuelling stations is currently limited, and building a comprehensive network of hydrogen refuelling infrastructure is costly and time-consuming.
- High upfront cost: Fuel cell vehicles are currently more expensive to produce than BEVs due to the high cost of the fuel cell stack and other components.
- Limited vehicle models: There are currently only a few fuel cell vehicle models available in Canada, making it difficult for consumers to choose a vehicle that fits their needs.
- Production and transportation of hydrogen: The production and transportation of hydrogen can be expensive and energy-intensive, and most hydrogen is currently produced from natural gas, which emits greenhouse gases.
While hydrogen fuel cell vehicles have some potential benefits, they currently face significant challenges that make them less practical and more expensive than battery electric vehicles. So far green hydrogen stocks in Canada and the companies have been working hard to bring sustainable hydrogen fuel.
As a result, the adoption of fuel-cell vehicles is expected to be slower than BEVs in the coming years, with electric cars remaining cheaper to buy in Canada.
What Inexpensive EV will you buy?
Searching for and purchasing the cheapest electric vehicles in Canada can be a worthwhile investment for those looking to reduce their carbon footprint and save money on fuel costs.
With the availability of government incentives and rebates and the increasing number of affordable electric vehicle options on the market, switching to an electric vehicle has become more accessible than ever before.
By researching the available options, considering factors such as range, features, and price, and taking advantage of available incentives and rebates, finding an electric vehicle that fits your budget and lifestyle is possible.
Check out electric vehicle company stocks in Canada or the best first car to buy in Canada.
