Top 7 Electric SUVs Under $40K in 2023

An average consumer in the United States might be hard-pressed to find an affordable electric SUV on the market today, considering how expensive some electric SUVs and crossovers can be. Are you one of those people who are looking for the best electric SUVs under the $40K price segment, then this article is right for you. Here in this article, we have shortlisted the top 7 Electric SUVs under $40K in 2023.

2023 Chevrolet Bolt EUV Chevrolet has introduced a new electric utility vehicle that is inspired by its Bolt SUV, and it offers a more rugged exterior styling with a spacious and nicely trimmed cabin. The Chevrolet Bolt EUV is a brand-new model that is perfect for those who want to travel in comfort while enjoying the benefits of driving an electric vehicle.

The Bolt EUV comes equipped with a 65-kilowatt-hour battery pack that powers an electric motor, which has the ability to generate an output of 200 horsepower. The powertrain of the Chevrolet Bolt is said to deliver up to 250 miles of driving range over a single charge. The electric motor combined with the front-wheel drive gives the vehicle a perk acceleration and sprints it from zero to 60 miles per hour in seven seconds.

The Bolt EUV can be charged by a 120-volt household outlet, but a 240-volt connection is best for quicker charging. Chevrolet provides an 8-year or 100,000-mile warranty and maintenance coverage for the electric powertrain components of Bolt EUV. The launch edition trim will have an adaptive cruise control feature with semi-autonomous driving mode as an additional technology, but the driver assistance technology will be standard in all trims.

Price and Specifications

The Bolt EUV’s key safety features are automated emergency braking, lane-keeping departure assist, and pedestrian detection. The base stream, the LT model, will be offered at an affordable price of approximately $34,000. and this makes it the best Electric SUVs Under $40K price in the United States.

Battery capacity65-kilowatt-hour
Electric motor output200 horsepower
Driving rangeUp to 250 miles
Acceleration0 to 60 mph in 7 seconds
Charging time240-volt connection is best for quicker charging
Warranty8-year or 100,000-mile warranty and maintenance
Safety featuresAutomated emergency braking, lane-keeping departure assist, and pedestrian detection
PriceApproximately $34,000

2023 Hyundai Kona Electric Hyundai Kona Electric is a sub-compact electric vehicle that offers a sporty driving experience and comfortable highway rides. It is equipped with a powerful 64-kilowatt-hour battery pack mounted on the floor that provides power to the 201-horsepower electric motor. The Kona Electric can accelerate from 0 to 60 miles per hour in just 6.4 seconds over a single charge. The battery pack is capable of providing a driving range of 258 miles, making it a perfect fit for long-distance travel.

The Kona Electric is designed to offer true one-pedal driving with aggressive regenerative braking that extends the driving range to the claimed values. The vehicle’s interior is quite comfortable and almost similar to its gas counterpart. 2022 redesigned Kona Electric features new wheel designs, new front and rear bumpers, and an improved interior that comes with a 10.3-inch infotainment touchscreen and a 10.3-inch reconfigurable digital gauge display. Additionally, the convenience package adds some more desirable features like heated front seats, a sunroof, and a wireless smartphone charging pad.

Price and Specifications

Hyundai has recently added a three-year or 36-thousand-mile complimentary scheduled maintenance package. DC fast charging stations and 110-volt outlets can charge the vehicle, but a 240-volt outlet is the preferred option. The base STL trim has a starting price of $39,000.

Battery capacity64 kilowatt-hour
Motor power201 horsepower
Acceleration0-60 mph in 6.4 seconds
Driving range258 miles
Regenerative brakingAggressive
Infotainment system10.3-inch touchscreen
Scheduled maintenance packageThree-year or 36 thousand miles complimentary
Base trim starting price$39,000

2023 Kia Niro EV Kia Niro EV is an affordable all-electric sub-compact crossover that is built on the design and capabilities of the Niro hybrid. It is a good-looking car that comes with plenty of features that offer luxury to buyers at a reasonable price point. The vehicle has many standard features like DC fast charging capability, a driver assistance suite, and steering wheel paddle-controlled regenerative braking. The Niro EV is perfect for buyers who are looking for an affordable vehicle with tons of luxury features.

Best Electric SUV Under $40K

The Niro EV was introduced in 2019 and is now expected to have some updates in the next 2023 model. It comes with a 201 horsepower output and 291-pound feet of torque from a single electric motor that is powered by a 64-kilowatt-hour battery pack. The EPA-estimated driving range of the Niro EV is 239 miles over a single charge, and the powertrain helps propel the vehicle from 0 to 60 miles per hour within 6.5 seconds.

Read More: Top 10 Cheapest Electric Cars in the USA (2023)

The battery of the Niro EV can be charged using either a 120 or 240-volt connection. The 240-volt connection takes almost nine hours to fully charge the vehicle, but the Niro EV offers a standard DC fast charging option with a 100-kilowatt connection that can recharge 80% of the battery within one hour only. The Niro EV only comes with a front-wheel drive option in all of its models.

The well-equipped interior of the Niro EV has heated and ventilated front seats, a power sunroof, a seven-inch digital driver display, a two-zone automatic climate control system, and wireless charging. The vehicle exhibits all of Kia’s driver assistance technologies, including standard adaptive cruise control, automated emergency braking, lane departure warning, forward collision warning, and lane-keeping assist.

Price and Specifications

The base EX trim of the Niro EV has a starting price of $40,265.

Battery Capacity64-kilowatt hour
Motor201 horsepower electric motor
Torque291-pound feet
Driving Range239 miles
Charging Time (240V)Almost 9 hours
Charging Time (DC Fast Charging)80% in 1 hour
Drive TypeFront-wheel drive
Standard FeaturesDC fast charging capability, driver assistance suite, steering wheel paddle controlled regenerative braking, heated and ventilated front seats, power sunroof, wireless charging
Driver Assistance TechnologiesAdaptive cruise control, automated emergency braking, lane departure warning, forward collision warning, lane-keeping assist
Base Trim Price$40,265

2023 Nissan Ariya has unveiled its first all-electric SUV, the 2023 Nissan Ariya, which is set to go on sale later this year. The Ariya boasts a sporty design with a low, wide stance that sets it apart from other Nissan models. It will be offered in both rear-wheel drive and all-wheel-drive configurations, with dual motor setups available. The vehicle will come with two battery options – a 63 kWh and an 87 kWh battery pack.

The smaller battery pack will provide an output of 217 horsepower, while the larger pack will deliver 294 horsepower. The smaller pack has a driving range of 211 miles on a single charge, while the larger pack can provide a range of 310 miles. The larger battery pack can propel the vehicle from zero to 60 miles per hour in just 5 seconds.

The Ariya’s exterior is sleek and sporty, featuring a smooth front end and a swoopy roofline that gives it a futuristic look. Inside, the dashboard and center console have been updated with touch-sensitive controls, replacing the traditional physical buttons. The interior is spacious and comfortable, featuring zero-gravity seats.

The vehicle also comes with an optional semi-autonomous driving system called ProPilot 2.0, which enables a hands-free driving experience in certain situations. The system uses e-paddles to launch acceleration and brake, and drivers can park their Ariya using their phones through ProPilot’s remote parking system. Infotainment is displayed on two 12.3-inch screens, and the digital gauge cluster displays important vehicle information.

Price and Specifications

Nissan offers an 8-year or 100,000-mile warranty for the Ariya’s battery, providing buyers with the peace of mind. The base model with the smaller battery pack is priced at $40,000.

Battery options63 kWh, 87 kWh
Driving range211 miles (63 kWh), 310 miles (87 kWh)
Output217 horsepower (63 kWh), 294 horsepower (87 kWh)
0 to 60 mph time5 seconds (87 kWh)
Semi-autonomous systemProPilot 2.0
Infotainment screensTwo 12.3-inch screens
Warranty8-year or 100,000-mile battery warranty
Base price$40,000

2023 Volkswagen id4 Volkswagen has introduced its first electric-powered vehicle, the ID4, a luxury crossover with an attractive and desirable shape. The vehicle can deliver 260 miles of driving range on a single charge of a 77-kilowatt-hour battery pack and presents a top speed of 99 miles per hour. It can also be propelled from zero to 60 miles per hour in less than 7.6 seconds.

The ID4 features a rear-mounted electric motor, with the rear-wheel drive variant generating an output of 201 horsepower, while the dual-motor all-wheel drive version can generate 302 horsepower of output. In terms of exterior features, the vehicle comes with sliding rear doors, perfectly shaped alloy wheels, recessed door handles, and a roof railing for additional luggage. The interior is equipped with 12-way power-adjustable front seats, a retractable steering wheel, and pedals with play pulse functions. The vehicle also features front and rear LED lights and an optional tow bar.

The ID4 is smaller than the Volkswagen Tiguan SUV, with its wheelbase one inch smaller. However, the two vehicles offer identical passenger accommodation. The vehicle comes with a standard 10-inch infotainment display, but a larger 12-inch display can be opted for with an optional statement package. Unfortunately, the ID4 has a faucet infotainment interface.

Volkswagen has equipped the ID4 with useful safety features, including front assist, speed limiters, forward collision warning, swerve support for counter steering assistance, range sensors, rearview cameras, and automatic braking assistance. The vehicle is capable of DC fast charging, but can also be charged at home via a 110 or 240-volt connection. Volkswagen also provides two years or 20,000 miles of complementary maintenance.

Price and Specifications

The price of the ID4’s base pro trim starts at $41,190, which is quite reasonable for a luxury electric-powered vehicle with a range of 260 miles. Overall, the Volkswagen ID4 offers an impressive driving range, high output, and a variety of features that make it an attractive choice for those seeking an electric luxury crossover.

Driving Range260 miles on a single charge of a 77-kilowatt-hour battery pack
Top Speed99 miles per hour
Acceleration (0-60 mph)< 7.6 seconds
Motor (Rear-Wheel Drive)201 horsepower output
Motor (Dual-Motor AWD)302 horsepower output
Exterior FeaturesSliding rear doors, alloy wheels, recessed door handles, roof railing, tow bar
Interior Features12-way power-adjustable front seats, retractable steering wheel, pedals with play pulse functions
Infotainment DisplayStandard 10-inch display, optional 12-inch display with statement package
Safety FeaturesFront Assist, speed limiters, forward collision warning, swerve support, range sensors, rearview cameras, automatic braking system
Charging OptionsDC fast charging, 110 or 240-volt home connection
Complementary Maintenance2 years or 20,000 miles
Price (Base Pro Trim)$41,190

Note: We understand that the price range of best electric SUVs under $40K is crossed for these 2 electric SUVs (mentioned below). If you are willing to shell out a few more bucks, you get better SUVs in terms of range and features.

2023 Kia EV6 SUV Kia has recently launched its first all-electric crossover EV6 which has been built on the electric global modular platform, which is the same platform as the Hyundai Ioniq 5. The Kia EV6 is the only EV with performance-oriented powertrain options. The vehicle will have several motor combinations providing a driving range of 300 miles, and both rear-wheel and all-wheel drive vehicle options will be available with two different battery options – 58 kWh and 77 kWh.

The EV6’s powertrain is capable of generating between 167 and 576 horsepower output, depending on the battery and drivetrain configuration. The base model takes 6.2 seconds to reach 0 to 60 miles per hour, while the GT model, with the larger battery pack, can achieve the same in under 3.5 seconds. The larger battery pack can charge up to 80% within 18 minutes at a DC fast charging station.

The exterior of the EV6 has a sleek design with assertive sheet metal, and the interior has a high-tech look with a digitized dashboard, a large bin under the floating center console, and a copious storage solution. The cabin has high-tech features like a two-spoke steering wheel, a start button on the center console, and a flat floor. The minimalist design includes a 12-inch touchscreen, a 12-inch digital gauge cluster, and haptic controls in place of conventional buttons.

Price and Specifications

The base model of the rear-wheel drive standard range has a starting price of $45,000, making it the lowest-priced trim of the EV6. Kia’s EV6 will compete with other electric crossovers such as the Ford Mustang Mach-E, the Tesla Model Y, and the Volkswagen ID.4.

Driving Range300 miles
Battery Options58 kWh, 77 kWh
Power Output167-576 horsepower
Acceleration0 to 60 mph in 6.2 seconds (base model), under 3.5 seconds (GT model)
Charging Time10 to 80% in 18 minutes (DC fast charging)
Interior Features12-inch touchscreen, 12-inch digital gauge cluster, haptic controls, two-spoke steering wheel, and flat floor
PriceStarting at $45,000

2023 Hyundai ioniq 5 has launched a mid-sized five-passenger electric SUV called the Ioniq 5, which promises to be the first in a line of new EVs from the Ioniq sub-brand of Hyundai. This fully electric crossover will join Hyundai’s existing EV lineup next year.

The Ioniq 5 is packed with advanced features, modernized technologies, and a versatile design. Its 800-volt electric motor with rear-wheel drive technology can generate an output of 215 horsepower, and with the all-wheel drive option, it can make 315 horsepower. The former takes 7.4 seconds to accelerate the vehicle from 0 to 60 miles per hour, while the latter takes 5.2 seconds to do so. The Ioniq 5 will be available with two battery options: a 58-kilowatt-hour battery pack and a long-range 77-kilowatt-hour pack. With the larger battery pack, the driving range of the Ioniq 5 is between 258 and 290 miles on a single charge.

The spacious cabin has a modernized dashboard with a pair of 12-inch digital displays and other useful features such as an augmented reality head-up display, a reclining front seat, pop-up footrests, a flat floor, and a large cargo space. Hyundai calls its interior an “open-air living space,” and it has a movable and adjustable center console. The rear-wheel-drive configuration provides a longer range, but the all-wheel drive option is good to have for better grip in cold weather stages. It also features Hyundai SmartSense technology with driver-assist features for safety purposes.

Price and Specifications

The base SE trim has an expected starting price of approximately $45,000.

Electric Motor800-volt with rear-wheel drive technology
Power Output215 horsepower (rear-wheel drive) or 315 horsepower (all-wheel drive)
0-60 mph Acceleration7.4 seconds (rear-wheel drive) or 5.2 seconds (all-wheel drive)
Battery Options58-kilowatt-hour and long-range 77-kilowatt-hour packs
Driving Range258-290 miles on a single charge (77-kilowatt-hour pack)
Interior Features12-inch digital displays, augmented reality head-up display, reclining front seat, pop-up footrests, flat floor, large cargo space, movable and adjustable center console
Safety FeaturesHyundai SmartSense technology with driver-assist features
Starting PriceApproximately $45,000 for the base SE trim

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