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Best Electric Car Range Under $40K in 2020

As time progresses and electric vehicle tech improves, it is great to see the prices come down to a more reasonable level for entry-level, non-luxury models.  This makes electric vehicles more accessible to the general public, which in turn means more sales, more money pumped into the market, and more technological development for the future.  With 2020 just around the bend, there are a few models worth a look for under $40k.  One of them happens to be the 2020 Chevy Bolt.

2020 Chevy Bolt

The newest iteration of the all-electric Chevrolet Bolt continues to impress.  The 2020 version boasts a new 66 kWh battery pack (up from 60 kWh), which bumps up the vehicle’s range to 259 miles on a single charge, 21 more miles than the 2019 version.  The boost comes from improved chemistry in the battery cells, allowing engineers to milk more power out of a more energy-dense battery pack without having to change the overall size. 

Some other updates to the 2020 Chevy Bolt include a high-definition rear-view camera, a 2nd generation digital rearview mirror, and improved cold weather charge times.

So what kind of a price might one expect to see for the newest Chevy Bolt?  The Chevy Bolt LT base price should start at $37,495, but a Premier edition with all sorts of fancy add-ons will hit the market at $41,895.

The Competitors

The Chevy Bolt’s upgraded range is fantastic, and will certainly give it an edge over similar competitors.  A prime opponent will be in the form of the Hyundai Kona EV crossover, which comes with a 64 kWh battery and an almost identical estimated range of 258 miles.   The Kia Nero EV offers 239 miles of range, and the Kia Soul EV is expected to roll out with a range of 243 miles. 

What about the Nissan Leaf?  The Leaf Plus, which is the extended range version, hits a maximum range of 226 miles.  Its standard version only comes with a range of 150 miles. 

The Volkswagen e-Golf, while similar in price, can only go 125 miles on a single charge.

Is It Worth Buying?

Financially, it seems like the Chevy Bolt is a pretty good deal for an entry-level car.  The base price of $37,495 for the LT version includes $895 in destination charges and $1,875 in federal tax credits.  It used to be eligible for a $7,500 tax credit, but since Chevy’s parent company, GM, has sold more than 2000,000 eligible vehicles, the benefit is starting to decrease.  After March 31 of 2020, there will no longer be a tax credit available for this car, so if you want it, you should probably act soon. 

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