Top 10 New Electric Cars Under $40,000 (2025)

The electric-car market is booming, and more affordable EVs are finally here for Gen Z drivers. We’ve rounded up the 10 best new (not used) EVs you can buy in 2025 for under $40K. Our list highlights real-world feedback and key specs, especially driving range and 0–60 acceleration. We also point out fun quirks and what owners are saying. Scroll down for a quick comparison table, then dive into our full reviews of each model!

1. Tesla Model 3 (Standard Range) – Techy Sedan with Great Range

Tesla’s entry-level Model 3 is the most range you’ll find for the money. The rear-drive Model 3 Standard Range starts just under $40K and offers about 272 miles EPA range. Drivers love its quick acceleration and minimalist cabin. One reviewer notes it’s a solid choice “even if [Tesla] has other advantages” over rivals. Autopilot (a semi-self-driving system) comes standard, and the Model 3 has a huge Supercharger network for fast charging. On the downside, some users mention a firmer ride and so-so build quality inside. But for 0–60 mph in the mid-5-second range and high-tech swag, the Model 3 is hard to beat.

2. Hyundai Ioniq 6 – Futuristic Sedan with Monster Range

The Hyundai Ioniq 6 stands out with its sleek, aerodynamic “streamliner” design. More importantly, it delivers huge range. In long-range RWD form it was EPA-rated up to 361 miles (2024 model) and 342 miles in 2025. In fact, MotorTrend hails the Ioniq 6 as “one of the longest-range vehicles you can buy, especially at its price point”. It uses an 800-volt system for ultra-fast charging (much faster than most rivals). Acceleration is brisk too: about 6.0 seconds to 60 in RWD trim, and around 4.4 seconds with AWD power (320 hp). On the plus side, owners love its sci-fi looks and smooth freeway ride. (It “recharges very quickly” at fast chargers.) Cons: the interior materials are a bit plain, and it’s a sedan, not an SUV, so cargo space is modest. Still, for range and efficiency it’s hard to top.

3. Ford Mustang Mach-E – Sporty SUV with Mustang Flair

The Ford Mustang Mach-E blends SUV practicality with Mustang fun. The base Select model starts around $39,995 and offers a Standard or Extended battery. With the larger battery (RWD Premium trim), EPA range is up to 320 miles. Even the standard pack does about 250 miles. 0–60 mph comes in around 6–7 seconds for base RWD, and much faster (3.8s) for the high-end GT version. Mach-E owners praise its sharp handling and roomy back seat. Key features include a large 15-inch touchscreen, Ford’s Co-Pilot360 driver aids, and an AWD option for more power. One quirk: it looks like a stretched Mustang, so some love it, some find it strange. Overall, it’s a fun daily driver with the versatility of an SUV.

4. Chevrolet Equinox EV – Value Leader with Long Range

Chevy’s new Equinox EV is a compact crossover that shakes up the EV market on price. The base 1LT FWD starts at $34,995 (plus destination), and even after incentives it’s well under $40K. At that price it offers 319 miles EPA range in base trim – far more range per dollar than almost any other EV. Real-world tests even saw 356 miles on a charge. Owners rave that the Equinox feels “plenty powerful” for daily driving and that its large touchscreen and Google-based software are user-friendly. It’s also very comfortable and roomy for a family, with a flat load floor and a built-in garage opener. Downsides? Charging speed isn’t the fastest (about 40–50 minutes to 80% DC fast-charge) and some buyers report minor software bugs. Still, at this price its range and size make it a top pick for budget-conscious buyers.

5. Volkswagen ID.4 – Easy-to-Drive Electric Crossover

The VW ID.4 is a mainstream compact SUV that’s been a big seller. The 2024 ID.4 Pro RWD lists around $41,500 but deals can bring it under $40K. It offers about 291 miles EPA range with the big 82-kWh battery, and sprints to 60 mph in about 5.9 seconds. The ID.4’s strengths are a smooth ride, a spacious interior, and user-friendly VW tech. A refreshed 2024 model improved the touchscreen and performance (the rear-motor version now has 282 hp and 402 lb-ft of torque for that 5.9s time). It’s very quiet and comfortable on the highway. The all-wheel-drive version kicks power to 335 hp (0–60 in 4.9s) but drops range to ~263 miles. Owners like the ID.4’s quiet cabin and simple controls. One common gripe is its touch-sensitive sliders for climate, but VW has mostly fixed that. Overall, the ID.4 is a solid, family-friendly EV with a decent balance of range and pep.

6. Hyundai Kona Electric – Fun Hatchback with High Range

The Kona Electric is a small SUV/hatchback that’s been a sleeper hit. It starts at about $33,550 and comes with a 64-kWh battery for 258 miles EPA range – excellent for its class. It’s also zippy: a Kona EV will do 0–60 in around 6.4 seconds. Reviewers praise its mix of range and fun driving dynamics. Edmunds notes its “great range” and calls the Kona “quick, nimble and fun to drive”. Tech-wise it has a 10.25-inch touchscreen, standard Hyundai Safety Sense features, and faster charging (up to 75 kW DC). It’s also compact (easy to park) but with a useful amount of cargo space for the size. On the downside, the interior trim can feel a bit cheap, and it lacks some of the newest frills of more expensive EVs. Still, for the price it offers a sporty, efficient package that’s hard to beat – a perfect city runabout or commuter car for new generation.

7. Kia Niro EV – Practical Crossover with Good Range

The Kia Niro EV is a more conventional-looking crossover. The 2024 “Wind” trim lists at $39,600 for the base RWD model, fitting just under our budget. It delivers about 253 miles EPA range (Kia’s own spec sheet) on a full charge, and should do 0–60 in the mid-6s. Owners like the Niro EV for its roomy interior and strong value. It comes well-equipped: think a big 10.25″ digital dash + infotainment display, smartphone wireless charging, and even a heads-up display as options. A neat feature is the heat-pump HVAC, which helps keep range up in winter. Power is 201 hp, which feels peppy for city driving. The Niro EV’s ride quality is relaxed, and it has more backseat legroom than a Model 3 – so it’s comfy for friends. In short, it’s a solid all-rounder: efficient with good range, fairly quick, and very useful as a family hatch.

8. Nissan LEAF – Budget Classic EV

The Nissan Leaf was one of the first mainstream EVs, and it’s still sold today (though its range is fairly short by modern standards). The 2024 Leaf starts at about $29,280 for the base model. There are two versions: the standard Leaf (40 kWh battery, 149-mile range) and the Leaf SV Plus (62 kWh, ~226 miles). The SV Plus is the one to consider here, as its ~226-mile range is competitive in this list, and it’s priced under $40K (around $37K MSRP). Performance is relaxed: expect ~7+ seconds to 60 mph, which is “not slow for a gas engine” but mellow for an EV. Kelly Blue Book notes the Leaf’s “pleasant drive” and comfortable seats, calling it the “cheapest new EV”. In practice, Leaf buyers say it’s a simple, reliable daily commuter – perfect for shorter drives. Downsides: the range and charging tech are dated (it still uses the older CHAdeMO fast-charge port), and interior quality is basic. But for tight budgets, it’s still a usable EV and easy on the wallet.

9. Subaru Solterra – Rugged AWD SUV

The Subaru Solterra is Subaru’s first electric SUV (a twin of the Toyota bZ4X). Unlike most on this list, AWD is standard (dual motors). A 2025 base Solterra is priced to start around $38,495, thanks to big price cuts. Its EPA range is about 228 miles (Premium trim, 18″ wheels) – roughly what you’d get from the comparable Toyota. Power is modest (around 214 hp), so 0–60 is about 6.8–7.2 seconds. Drivers like the Solterra’s car-like ride and familiar Subaru features: high seating, X-Mode traction control, and standard EyeSight safety tech. It’s very safe-feeling and has good interior quality. For Gen Z, a fun fact is that it’s 100% vegan inside (all synthetic upholstery). On the flip side, it’s heavier than competitors and not as quick, and some report the front cabin can be a bit tight. In short, the Solterra is for those wanting a dependable electric SUV with off-road chops – Subaru style.

10. Fiat 500e (Red Edition) – Cute City EV with a Cause

Last but not least, the new Fiat 500e is a tiny Italian EV. The USA launch (Red Edition) starts at about $34,095. It packs a 42-kWh battery for 141–149 miles EPA range (it’s more of a city car). Thanks to its small size and 118 hp, it feels zippy around town – MotorTrend praises its “go-kart handling” and “punchy instant torque” for making it fun to drive. It takes about 7.9 seconds to hit 60. The interior is simple but modern-looking (and the Red Edition has flashy red trim panels tied to a charity partnership). Pros: super cute styling, fast charging (80% in ~35 minutes), and it’s a conversation starter. Cons: very short range, and at 115–150 miles it’s really only for city use. But if you love the retro Fiat look and want something unique—and don’t mind taking it mostly on short hops—the 500e is a charming choice.

Each of these ten EVs has its own personality. Some trade top speed for the longest range (Hyundai Ioniq 6), others trade cargo space for a fun look (Fiat 500e). By focusing on real-world range and performance, this list spotlights what actual drivers care about: how far you can go on a charge and how fast you can get there. Every choice here is a new 2025 model (or 2024 model still fresh) under $40K, so you won’t see older used cars. We’ve peppered in owner quotes and expert takes for a down-to-earth view. Hopefully this guide helps you find the EV that fits your style and budget!