Top 10 Most Affordable Electric Vehicles in 2025
Electric vehicle shoppers in Canada are currently out of luck. Earlier this year, the federal government’s Incentives for Zero-Emission Vehicles (iZEV) program came to an abrupt end due to a lack of funds, eliminating rebates of up to $5,000. And don’t forget Quebec, which also suspended its own incentives of up to $4,000.
In order to help prevent units from piling up on dealer lots, several manufacturers have come up with generous discounts. Now, with that being said, if you’re looking for an affordable electric vehicle, we've put together a list of the 10 cheapest EVs in Canada in 2025—discounts and incentives notwithstanding.
Note: The prices listed below are all accurate at the time of writing. However, they are subject to change at any time. They include freight and PDI plus other charges such as dealer fees and A/C tax. They do not include discounts and sales tax. Range ratings come from Natural Resources Canada.
10. VinFast VF 8 – $56,390 (MSRP of $53,600)
Manufacturer discount: $3,500 at the time of writing.
Range: 412 km.
The Vietnamese automaker’s first vehicle in Canada has generated a fair amount of interest thanks to its attractive size, unbeatable warranty, decent range and very competitive lease payments, combined with low financing rates. Speaking of leasing, this is the smartest way to go. Indeed, concerns about reliability, availability of replacement parts and residual value make the VF 8 a questionable long-term purchase.
9. Hyundai Ioniq 5 – $55,830 (MSRP of $52,999)
Manufacturer discount: None at the time of writing.
Range: 373 km.
For 2025, the Hyundai Ioniq 5 underwent a facelift and finally gained a rear window wiper, plus a larger-capacity battery (84 kWh instead of 77.4 kWh) and new adventurous (XRT) and high-performance (N) models. Meanwhile, the base model is back with its small 63kWh battery. By the way, the closely related Kia EV6 will arrive with the same enhancements in the spring.
8. Nissan Ariya – $52,996 (MSRP of $49,998)
Manufacturer discount: Up to $10,000 at the time of writing.
Range: 348 km.
Thanks to the price cuts introduced last fall, the Nissan Ariya seems to us a much better value now than when it launched a couple of years ago with prices above most competitors. The Ariya stands out as a comfortable, quiet and spacious SUV. However, none of the four powertrain configurations available impresses with its power, charging capacity or driving dynamics.
7. 2024 Volkswagen ID.4 – $51,210 (MSRP of $48,495)
Manufacturer discount: $8,000 at the time of writing.
Range: 332 km.
At the time of writing, Volkswagen had not yet launched the 2025 ID.4, but don't expect any major changes from the 2024 model. Right now, dealers are still clearing out leftovers following a nearly four-month sales interruption due to a recall on the door handles. Yeah, the ID.4 has a questionable track record for reliability so far, but with discounts like these and efficient powertrains, it might be hard to look away.
6. Toyota bZ4X – $49,467 (MSRP of $46,515)
Manufacturer discount: $2,500 at the time of writing.
Range: 406 km.
Aided by Toyota's reputation, the bZ4X has found its audience. And that's despite its oddly designed cockpit, not-so-pretty looks and underwhelming performance (201 hp or 215 hp, depending on the model). The bZ4X does not compare favourably to a number of rivals. What about the virtually identical, albeit slightly more adventurous Subaru Solterra? This one is currently available at a substantial discount of $10,000.
5. Hyundai Kona EV – $49,330 (MSRP of $46,499)
Manufacturer discount: None at the time of writing.
Range: 420 km.
If sales figures are anything to go by, Hyundai has successfully redesigned the Kona. The subcompact SUV has grown in size and refinement. The electric variant retains a 64.8kWh battery. While range has increased to 420 km, torque has dropped considerably (to 188 lb-ft from 291 lb-ft with the previous Kona EV). Also, all-wheel drive is still missing. On the plus side, the substantial price difference with the gasoline-powered Kona ($14,000) is slowly but surely shrinking over the years.
4. Kia Niro EV – $48,612 (MSRP of $45,595)
Manufacturer discount: $3,000 at the time of writing.
Range: 407 km.
Set to launch this summer, the all-new Kia EV3 is likely to overshadow the Niro EV and push it towards the exit ramp. The latter suffers from less advanced technology, which dates back to the first generation introduced in 2019 and shared with the Hyundai Kona EV. Nevertheless, the Niro EV remains a very practical front-wheel-drive crossover given its size, what with 1,805 litres of maximum cargo space.
3. Chevrolet Equinox EV – $48,325 (MSRP of $44,999)
Manufacturer discount: $1,000 at the time of writing.
Range: 513 km.
While we await the arrival of the second-generation Bolt EV, which Chevrolet promises will be more affordable than the first, the Equinox EV gives you a lot of bang for your buck. The base price of this compact electric SUV is comparable to that of subcompact rivals such as the aforementioned Kia Niro EV and Hyundai Kona EV. The Equinox EV has the size, range and optional all-wheel drive system to meet the needs of many Canadian drivers. Just beware of expensive options.
2. Nissan Leaf – $44,670 (MSRP of $41,748)
Manufacturer discount: None at the time of writing.
Range: 240 km.
Like an iPhone 7 in the age of the iPhone 16 Pro Max, the Nissan Leaf is an outdated EV by today’s standards. While decent for urban commutes, this electric hatchback pales in comparison to newer and better-equipped competitors, which aren't much more expensive, by the way. Forget about the SV Plus model priced close to $50,000.
1. Fiat 500e – $42,190 (MSRP of $39,995)
Manufacturer discount: $9,000 at the time of writing.
Range: 227 km.
The most affordable EV in Canada is powered by a 117-hp electric motor and features a 42kWh battery that provides no more than 227 km of range. Actually, you can drive farther than that in the summer months. If you think the 500e is too expensive, keep an eye on discounts offered by Fiat and its dealers as they deal with excess inventory. You could end up leaving the showroom with monthly lease payments below $400. Avoid the La Prima edition, however, which adds no essential features beyond its unique Rose Gold body colour.
