While Tesla has dominated the EV market for many years now, a ton of new and legacy automakers have been entering the market with fleets of impressive electric options.
While a lot of the earliest EVs started off as niche products for the wealthy, many new models are being offered at price points that appeal to every level of customer.
Now is one of the most exciting times to be looking into getting an EV, as tons of new cars are coming to market that push the boundaries of what EVs are and can do.
Today, we’re going to be taking a look at some of the most exciting new options coming later this year and beyond. We’ll also be focusing on some of the more affordable options, so with that in mind, let’s get into it.
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Tesla’s Dominance in EV Market
As I mentioned before, Tesla has been the most successful EV manufacturer in the world, and it makes sense that we should start by recapping their vehicles. After all, if you were looking to buy a new EV, then Tesla is likely the company you’re the most familiar with and might look at first.
Tesla’s bestselling vehicles are the Model 3 sedan and Model Y crossover SUV. The Model Y is currently the bestselling car in the world of any type and starts at $42,990 for the rear-wheel drive model with a 260-mile range battery and 0 to 60 in 6.6 seconds.
The dual motor all-wheel drive long-range trim costs an additional $5,000, bringing the total cost up to $47,900 for a 318-mile range in a 4.8-second 0 to 60.
Lastly is the performance trim, which costs $51,490 in exchange for a higher top speed of 155 mph, 279-mile range, and a 3.5-second 0 to 60. If you live in the US and meet certain income requirements, then all trims of this vehicle are eligible for the full $7,500 federal EV tax credit.
Tesla just did a pretty major refresh of their next bestselling vehicle, the Model 3 sedan. This refresh did a lot to improve the performance, build quality, and looks over the previous edition. The base rear-wheel drive model starts at $38,990 for 272 miles of range and a 5.8-second 0 to 60.
Then the dual motor all-wheel drive starts at $47,740 for 341 miles of range in a 4.2-second 0 to 60. Tesla also just released the new performance trim for this new Model 3, and that starts at $52,900 for a 296-mile range, increased top speed of 163 mph, and a 0 to 60 in 2.9 seconds.
That trim, in particular, also qualifies for the tax credit, whereas the other two don’t, so the rear-wheel drive and long-range trims can actually cost more than the Model Y in practice if you qualify.
Besides that, Tesla now offers three more luxury vehicles. First is their oldest mass-market vehicle, the Model S. The Model S starts at $89,990 for the dual motor all-wheel drive model with 412 miles of range and a 0 to 60 in 3.1 seconds.
Beyond that, they offer the Plaid version of that car with a record-breaking 1.99 second 0 to 60 and 390-mile range for $129,990. The dual motor all-wheel drive model offers 335 miles of range and a 3.8-second 0 to 60 for $79,990 for qualified customers.
That price is just low enough to still qualify for the full $7,500 EV tax credit. This model also offers a Plaid variant at $139,990 for a 390-mile range and 1.99-second 0 to 60.
And then there’s the Cybertruck. This truck is currently available in two trims, the all-wheel drive and more powerful Cyberbeast trim. The all-wheel drive model, once they get past the initial Foundation series, starts at $39,900 for 250 miles of range, 600 horsepower, and a 4.1-second 0 to 60.
The Cyberbeast is offered at $69,900 for 500 miles of range, 800 horsepower, and a 2.9-second 0 to 60. Both of these trims are only available right now for an additional $20,000 while Tesla is ramping up production of this vehicle.
It’s still slow for now, and they have several years’ worth of pre-orders to get through, so if you were ordering now, it may be a very long time until you can take delivery.
In the future, as well, they should be making their next-gen vehicle, which they’ve quoted at being $25,000 or possibly less ultimately, but we still haven’t gotten anything concrete about when that will be coming, what it looks like, or anything.
So, on the more affordable side that’s been revealed, let’s take a look at two of the most exciting upcoming electric vehicles, the Rivian R2 and R3.
Rivian R2 and R3
Rivian, known for its exceptional R1T pickup truck and R1S SUV, is now venturing into smaller and more affordable vehicles with two new models. Announced in March, details about these vehicles are still forthcoming.
The R2, a compact SUV, will be 15 inches shorter than the R1S and 2 inches shorter than the Tesla Model Y. This model is designed to achieve over 300 miles of range in nearly every trim, including a tri-motor variant that accelerates from 0 to 60 mph in less than 3 seconds.
Notably, the R2 will be the first Rivian model to include a built-in CCS charge port, granting access to the reliable Tesla Supercharger Network.
Additionally, it will feature a new camera system to enhance autonomous driving capabilities. With a starting price of around $45,000, the R2 is positioned as a significantly more affordable alternative to the R1 series.
Rivian is also developing another vehicle, the R3 crossover SUV, which remains somewhat enigmatic. What is known is that it shares the same platform as the R2 and will commence deliveries at a later date.
Expected to be smaller and less expensive than the R2, the R3 will also offer a performance variant known as the R3X. While Rivian’s existing vehicles qualify for half of the EV tax credit, the company anticipates that these new models will be fully eligible.
Acura ZDX SUV
Acura is in the process of launching its first electric vehicle, the ZDX SUV. Acura, the luxury division of Honda, has been notably slow to enter the EV market. This vehicle utilizes GM’s Ultium platform, which will provide 325 miles of range on the base trim and 288 miles on the performance trim.
Although the performance trim sacrifices some range, it compensates with a robust output of 500 horsepower in the dual motor configuration. The car will feature a premium 14-speaker sound system with built-in Apple CarPlay and Android Auto.
Depending on the trim and options, the starting price for this car is $65,000, rising up to $87,900. Additionally, it will boast about 300 miles of range and achieve 0 to 60 mph in 6.7 seconds.
The interior design is simplified, featuring a slanted infotainment screen, Apple CarPlay, Google Maps, a wireless phone charger, and a 12-speaker sound system. Recently, Honda also unveiled a concept for the saloon, which currently has a unique sci-fi shape but is unlikely to be released as shown.
Few details were provided, but the saloon is expected to include steer-by-wire technology and a high-density battery designed to minimize degradation.
Lastly, Honda is collaborating with Sony to develop an EV that emphasizes technology, slated for release by 2026. This joint venture, named Aila, will reportedly launch its first vehicle equipped with 45 cameras and sensors, with prices starting around $45,000.
Kia EV3 and EV4
Next up is Kia, introducing the EV3 and EV4. The EV3 is a crossover SUV taking design cues from the recently released EV9.
It’s designed with highly sustainable materials, and we should expect it to start around $30,000. We expect this one by the end of 2024 or early 2025.
Also coming in 2025 is the EV4, an entry-level sedan which could start as low as $35,000. It looks like Kia will beat both Rivian and Tesla in this segment, so if they can provide a decent range for that price, that will be a huge advantage for them very soon.
Chevy Equinox SUV
Another legacy automaker, Chevy, has also been working to expand their EV lineup. The Equinox SUV, entering production this year, starts under $30,000 and qualifies for the full federal tax credit.
It gets up to a 319-mile range, and now all Chevy SUVs are shipping with 17.7-inch interior touch screens similar to Tesla’s. With the starting price under $30,000 after the tax credit, this car packs a lot of value.
Chevy previously discontinued the beloved Bolt in 2023 but will be replaced by a new Ultium Bolt in 2025. The new platform promises range increases as well as cost savings.
It will, however, be a larger vehicle. If a small vehicle is what you’re looking for, Mini is planning to unveil some new EVs this year and in 2025.
First, the Mini Countryman is entering production this spring, starting around $42,000. It’ll get around 230 miles of range. Then the Acan is expected to start around $33,000 and will have at least 200 miles of range.
That one will be coming later this year. Then in 2025, they should be releasing the Cooper, starting around $33,000 with about 200 miles of range.
I think a lot of customers will be particularly excited to see a small Mini Cooper in an all-electric package.
Chrysler Airflow SUV
Chrysler will be releasing a compact crossover as soon as this year, the Airflow SUV. That one will start around $50,000 and could offer a range of up to 440 miles.
We haven’t heard much about specs, though, so we’ll have to see. Over at Dodge, the new Charger EV is supposed to be released later this year. This is a fully electric muscle car. It’ll likely be priced above $60,000 and offer up to 670 horsepower with the Scat Pack trim.
That one will deliver around 260 miles of range. The lower RT trim will have 496 horsepower and around 317 miles of range.
Ford Explorer EV
Over at Ford, they will be releasing several new EVs this year. An Explorer EV and another unnamed but affordable EV.
The Explorer EV recently set the record as the first all-electric vehicle to circumnavigate the globe. This car has launched in Europe with up to 374 miles of range on that testing cycle and a starting price under $50,000.
They’re also working on a new line of affordable EVs, though, starting with a $25,000 compact crossover they plan to release by late 2026.
GMC Sierra EV
The GMC Sierra EV, set to compete with the Ford F-150 Lightning, is expected to launch in the coming months with a starting price of around $109,000.
This price point brings the launch edition Denali, which features 754 horsepower, a two-motor all-wheel-drive powertrain, and approximately 400 miles of range. Meanwhile, Ram is poised to release its electric pickup, the 1500 R, in 2024.
With a starting price of $58,000, this model is competitively priced and offers two battery pack options, the largest of which provides up to 500 miles of range—though this maximum range will not be available at the base price.
Canoo
In addition, Canoo is gearing up to launch its own pickup in 2024, which I find particularly exciting. Designed from the ground up as an EV, this truck boasts significant advantages in storage capacity, with a targeted horsepower of over 500 and more than 200 miles of range.
While I hope the actual range exceeds 200 miles, we will have to wait and see if the truck makes it to market. It is expected to be priced between $35,000 and $50,000 and should qualify for the full tax credit, potentially making it an extremely affordable option.
At the same time, Canoo is developing its lifestyle vehicle, which went into production last year. Starting at around $40,000, it offers a 200-mile range and 350 horsepower.
This vehicle, with its unique design and abundance of features, has a substantial amount of cargo space but might be more suited to business customers than everyday consumers.
Volkswagen ID7
Then, Volkswagen ID7, coming out this year, is their first fully electric sedan, starting around $50,000. It’ll have around 300 miles of range and 282 horsepower.
Volvo’s EX30 is a car that should be starting at $35,000 in the future. Their quote ‘smallest ever SUV’ will have a 3.4-second 0 to 60, and we expect range around 275 miles. The X90, also supposed to be fully launching this year, is a larger 7-seater SUV, starting around $77,000.
It has a 300-mile EPA range, 496 horsepower, and a 0 to 60 in 4.7 seconds. Volvo’s old subsidiary, Polestar, is also releasing several new EVs coming up.
The Polestar 3, coming this summer, is set to compete with higher-end electric SUVs. It will start at $83,400, get a range of 315 miles EPA, 0 to 60 in 4.5 seconds, and come with a very luxurious interior.
One particularly premium feature as well is its active air suspension to achieve what they call ‘the golden ride.’ Another coming from Polestar as soon as this month is the Polestar 4. This starts at $54,900, and they call it a performance SUV and innovative coupe.
It gets up to 300 miles of range, 3.7-second 0 to 60, and similarly delivers a very luxurious interior. One notable change there is a horizontal center display inside.
Fisker Pear, Alaska, and Ronin
Fisker is on the rocks right now, so there’s a very real chance none of these following vehicles come to pass, but they are planning to introduce several new EVs in 2025: the Pear, Alaska, and Ronin.
The Pear would be a crossover SUV starting around $30,000, offered in rear or all-wheel drive. It should have a 6-second 0 to 60 and two battery configurations that could offer up to 320 miles of range.
This one has a unique ‘Houdini trunk’ that opens by sliding down for compact parking spaces. The Fisker Alaska, aiming to start around $45,000, is a midsize pickup truck with a 4.5-foot bed that can extend to 7.5 feet and then 9.2 feet when the rear seats are lowered.
As for range, it should have two battery options that will likely offer between 230 and 340 miles of range. It’ll have a single and dual motor variant, getting a 0 to 60 as low as 3.9 seconds.
Then the Fisker Ronin could be a hardtop convertible sports car coming a little later. They claim it’ll have up to 600 miles of range and a 0 to 60 in 2 seconds.
They only plan to build 999 of those in total, and you’ll have to pay $385,000 to get one. 600 miles of range is impressive, but it might have a hard time competing with much if it ever comes to market.
Lucid Gravity
The Lucid Gravity is an SUV expected to be released later this year, seating up to 7 with a 0 to 60 under 3.5 seconds. It’ll have a 440-mile range and it’ll start under $80,000.
This is Lucid’s second EV to be released and marks an important step for the company toward making more affordable vehicles. This should be a pretty compelling EV when it’s released and have a lot of good competitors in that category.
Jeep Recon
Jeep will also be releasing two EVs around that price range later this year. The Jeep Recon, inspired by the Wrangler, will be an off-roading focused vehicle expected to start around $60,000.
It’ll have a power-folding rooftop and removable doors, but they haven’t revealed many details beyond that. Then the Wagoneer S, coming later, will be the electric equivalent of the Grand Cherokee and will start at $80,000.
That one will have up to 400 miles of range, 600 horsepower, and a 0 to 60 in 3.5 seconds. The interior will be more focused on luxury with four displays, a 19-speaker sound system, and front massaging chairs.
Audi A6 e-tron
We expect the upcoming Audi A6 e-tron to be fully revealed later this year, but for right now, it’s just a concept car. This is the latest vehicle to be built on the VW group’s premium electric vehicle platform, PPE, that will be the basis for all future Audi and Porsche EVs.
We don’t have a ton of details on this car so far, but its dual motor design will output 469 horsepower and could have as much as 400 miles of range. It is expected to cost anywhere between $80,000 and $100,000, depending on the trim and options.
Audi is also preparing to release its Q6 e-tron, a midsize SUV meant to sit price-wise between the Q4 and Q8 SUVs. The Q6 is expected to start around $66,000 and go all the way up to around $81,000.
Final Verdict
So that’s a big mix of many more affordable EVs coming on the horizon and many more expensive EVs coming somewhat soon. It seems like every single day we see new EVs getting announced, and it’s incredibly exciting.
More EVs are better for everyone, and all of these cars are getting much more practical to own as Tesla adds partners to their Supercharger Network. Now the real question is when these companies scale up their EVs to numbers that truly compete with all of the best options out there.
I’m rooting for everyone, but it’s likely that a number of these cars won’t actually exist past a limited run in a few years. The most important thing going forward for mass EV adoption will be charging infrastructure and speeds, as well as truly seeing profitable cars that scale for $30,000, $25,000, and $20,000, or even less, with tax credits.
