Car Buying Tips

Top 5 Cheapest EVs in Canada: 2023

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Electric vehicles (EVs) have been getting a ton of interest lately because of high gas prices, but also because there are so many more options now than there were even a year ago. While EVs are not known for being extremely affordable, there are a few good options for drivers on a budget and in a variety of body styles.

All the prices below include freight/PDI charges, taxes, and federal EV rebates, and if you live in a province or territory with its own rebates, you’ll be saving even more money. Here are the five cheapest EVs you can buy in Canada, starting from highest to lowest price.

2023 Mazda MX-30 GS

The Mazda MX-30 has a funky design, cool suicide doors, and upscale aspirations, but as the most expensive vehicle on this list, it must be noted that it has the least amount of range at 161 km. That’s brutally low and add in the fact that you can only buy this tiny SUV in B.C. and Quebec, I almost considered not even including it in this list, but facts are facts, and this Mazda is the fifth most affordable EV in Canada.

While experts haven’t been impressed with the range offered, many have praised the MX-30 for being refined, stylish, and fun to drive.

Battery Capacity: 35.5 kWh

Horsepower: 144 hp

Torque: 200 lb-ft

Range: 161 km

Cargo Room: 431 / 1,053 L

All-In Price: $41,490–$45,917 (depending on province or territory and tax rate)

2023 Chevrolet Bolt EUV LT FWD

The Chevrolet Bolt EUV offers outstandingly good value for the money with an estimated 397 km of range, a roomy cabin, and straightforward operation. The Bolt EUV (which stands for Electric Utility Vehicle) is the crossover version of the Bolt EV hatchback that shares the same platform. The most obvious differences between the two are that EUV comes with roof rails, which will come in handy if you need to carry cargo or equipment, and there’s more legroom in the EUV’s second row.

All the safety technology Chevrolet includes as standard is also impressive and includes tire fill alert, blind spot monitoring, rear cross traffic alert, pedestrian detection, and automatic emergency braking, features that many other automakers charge extra for.

Battery Capacity: 65 kWh

Horsepower: 200 hp

Torque: 266 lb-ft

Range: 397 km

Cargo Room: 462 / 1,611 L

All-In Price: $40,304–$45,917 (depending on province or territory and tax rate)

2023 Kia Soul EV Premium

The Kia Soul EV is the third most affordable EV in Canada and it’s actually one of my favourite ones on this list because of its iconic and funky style. The most affordable Kia Soul EV doesn’t have a ton of range with 248 km, but its boxy shape makes it roomy and practical. The controls inside also make it very easy to live with, even if you’re new to EVs, and Kia includes a long list of safety features as standard. I also like that the charging port is located in the front bumper, which makes parking at a charging station that much easier.

Battery Capacity: 39.2 kWh

Horsepower: 134 hp

Torque: 291 lb-ft

Range: 248 km

Cargo Room: 630 / 1,735 L

All-In Price: $40,250–$44,559 (depending on province or territory and tax rate)

2023 Chevrolet Bolt EV LT FWD

Like the Bolt EUV mentioned earlier, this hatchback version also has excellent value for the money and is even more affordable than its crossover sibling. It’s rated for about 417 km of range, but when I drove it, I was regularly seeing about 460 km. Like its crossover sibling, the Bolt EV is roomy and easy to live with, especially because it has a lot of useful information that helps with trip planning.

Battery Capacity: 65 kWh

Horsepower: 200 hp

Torque: 266 lb-ft

Range: 417 km

Cargo Room: 470 / 1,614 L

All-In Price: $38,204–$42,319 (depending on province or territory and tax rate)

2023 Nissan Leaf SV

The Nissan Leaf currently holds the crown as the most affordable EV in Canada and it was actually one of the first mainstream fully electric vehicles available in the country. The Leaf has matured a lot since its early days, and has also grown to be more sophisticated and stylish while remaining very affordable.

With 240 km of range, it also comes with a very generous list of standard safety features and one of the industry’s smoothest driver assistance systems.

Battery Capacity: 40 kWh

Horsepower: 147 hp

Torque: 236 lb-ft

Range: 240 km

Cargo Room: 668 / 850 L

All-In Price: $37,260–$41,285 (depending on province or territory and tax rate)

Final Thoughts

Most of these EVs are also available with bigger battery packs and more range, but also bigger price tags to match. If it was my money, the Chevrolet Bolt EV is the one I’d buy from this list simply because it offers the most range without having to upgrade to the bigger battery. Of course, if you have a charger at home and limited range isn’t really going to be a dealbreaker, these are all solid picks.

As competition in the EV space ramps up and as battery technology advances while the cost to produce EVs drops, the number of more affordable options is bound to increase in the near future.