A new year means a fresh crop of all-new electric vehicles, which is welcome news for car shoppers.
Less welcome is the fact that the EV market is increasingly top-heavy, saturated with gigantic SUVs and luxury vehicles whose extreme performance is matched only by their extreme prices.
If you have a six-figure budget for your next car, you’ll be spoiled for choice. Audi, Cadillac, Lucid, Maserati, Mercedes-Benz, Polestar, Porsche, Rivian, VinFast and Volvo are all expected to launch luxurious new all-electric models this year. BMW, Jeep and Volkswagen will offer new mid-range EVs too.
But what if your EV budget leans more toward Ford than Ferrari? The pickings are slimmer if you have $60,000 or less to spend. There are still some compelling new options hitting Canadian dealerships in 2024, though, as we’ve rounded up here. Bear in mind these are the new 2024 and 2025 model-year EVs we know about; there could, of course, be some surprises later in the year.
Hyundai Kona EV (December 2023)
- Price: $49,077
- Federal iZEV incentive: $5,000
Yes, Hyundai’s most-affordable new EV trickled into showrooms in December, but it’ll be more widely available in 2024, a spokesperson for the company confirmed. (The same goes for the Kia EV9 below.) At $44,077 after the federal rebate, and with 420 kilometres of driving range, the Kona EV is a strong value proposition by the skewed standards of electric vehicles.
For comparison, the gas-burning Kona starts at $28,681, but a 2022 Clean Energy Canada report found the electric version ends up being about $10,000 cheaper in total over 160,000 kilometres, despite its higher up-front price.
The 2024 Hyundai Kona Electric has a range of 420 kilometres.Jason Tchir/The Globe and Mail
Kia EV9 (December 2023)
- Price: $63,433
- Federal iZEV incentive: $5,000
It doesn’t quite squeak in under our $60,000 cap, but the EV9 does undercut the competition. Large three-row EVs from Rivian, Tesla or Mercedes-Benz all cost more than six figures. Adding optional all-wheel drive, the EV9′s price rises to nearly $70,000. It does, however, offer a very healthy 451 kilometres of range.
Kia’s sister company Hyundai is expected to launch its own three-row electric SUV, called the Ioniq 7, later this year, but details are scant.
The 2024 Kia EV9 will come in five trims with between 201 and 379 horsepower.Michael Bettencourt/The Globe and Mail
Fisker Ocean (Early 2024)
- Price: $45,999, excluding delivery charges
- Federal iZEV incentive: $5,000
Back in 2021, when we spoke to Henrik Fisker, chief executive officer of the EV upstart that bears his name, he projected Canadian deliveries of the Ocean SUV would begin in mid-2023 with prices below $45,000. The company missed that delivery date, but the Ocean is now finally appearing on Canadian streets. The company did not respond to a request for comment on Canadian availability. Delivery estimates for new-build orders are listed at “three months or less” on Fisker’s website, with some inventory available within days.
The base-model Ocean Sport has kept close to that initial $45,000 price, although for that you only get 372 kilometres of range and front-wheel drive. The all-wheel drive model with 563 kilometres of range costs nearly $80,000.
Henrik Fisker, CEO of electric-vehicle maker Fisker Inc., stands next to his company's flagship electric Ocean SUV in Huntington Beach, Calif. on Aug. 3, 2023.MIKE BLAKE/Reuters
Tesla Model 3 (Early 2024)
- Price: $56,000
- Federal iZEV incentive: $5,000
Unlike other cars on this list, it’s not an all-new model, but Tesla’s refreshed Model 3 should soon be arriving in Canada after landing in European and Chinese markets last year. The sedan looks more streamlined than before, and is said by Tesla to have nicer cabin materials. There’s a new steering wheel and central touchscreen too. Driving range is 438 kilometres for the rear-drive model, and 548 for the $66,000 long-range, all-wheel-drive model.
Fiat 500e (Early 2024)
- Price: $39,995, excluding destination fees
- Federal iZEV incentive: $5,000 (estimated)
The gas-burning Fiat 500 was discontinued in 2019, but the cute little Italian runabout is being reincarnated as the all-electric 500e. It’s the first EV from Stellantis to arrive in Canada. Well, it won’t arrive in all of Canada, just British Columbia and Quebec initially, a company spokesperson confirmed. Once production ramps up, it will become more widely available. Fiat quotes a driving range of “up to” 240 kilometres. If its anything like its predecessor, this new 500 should be a riot to drive.
Fiat says its all-electric 500e will have a range of 'up to' 240 kilometres.Jason Tchir/The Globe and Mail
Honda Prologue (Spring 2024)
- Price: $59,990, excluding destination fees
- Federal iZEV incentive: $5,000 (estimated)
The Honda Prologue is the first and last of its kind for Honda, the sole product of a $5-billion collaboration with General Motors to develop EVs that has since been scrapped. The mid-size Prologue SUV is similar in size to the Chevrolet Blazer EV, with both sharing the same GM Ultium platform and batteries. Driving range is rated at 452 kilometres for the basic Prologue EX, which includes all-wheel drive as standard. Honda warns that availability will be limited to B.C., Ontario and Quebec this year.
The 2024 Honda Prologue will have an 85-kilowatt-hour lithium-ion battery and a range of 450 kilometres.Mark Richardson/The Globe and Mail
Chevrolet Equinox EV (Mid-2024)
- Price: Unknown
- Federal iZEV incentive: Unknown
Chevy’s all-new compact electric SUV was supposed to arrive last year as an affordable entry-level EV, according to Automotive News Canada. In the United States, the company was targeting a starting price of about $30,000, but the first model to go on sale there costs nearly $50,000. Here in Canada, a company spokesperson confirmed only that the Equinox EV will arrive in mid-2024 and that prices will be announced closer to launch. General Motors also delayed production of its upcoming electric Silverado and Sierra pickups.
Chevrolet will launch the Chevrolet Equinox EV in the 2024 model year.Supplied
Volvo EX30 (Summer 2024)
- Price: $56,448
- Federal iZEV incentive: $5,000 (estimated)
The made-in-China EX30 is Volvo’s most affordable EV to date. At $56,000 for a subcompact, front-wheel-drive SUV, the EX30 only begins to make financial sense if you factor in fuel and maintenance savings. The basic EX30 delivers 442 kilometres of range, while the dual-motor all-wheel-drive model is rated at 426 kilometres and costs $62,648. The cabin is spartan, sadly shunning physical controls and instead putting basic functions such as mirror adjustments on the central touchscreen.
The 2025 Volvo EX30 will come with two powertrain options - a single motor, rear-wheel-drive option with more range and a dual motor, all-wheel-drive version with less range.Petrina Gentile/The Globe and Mail
Mini Countryman SE (Second half 2024)
- Price: Unknown
- Federal iZEV incentive: Unknown
Mini is busy readying its all-new, all-electric lineup. There’s a stylish new Mini Cooper SE hatchback, and a slightly larger four-door model called the Mini Aceman, and the even larger but still compact Mini Countryman SE. Unfortunately, only the electric Countryman SE is confirmed to land in Canada this year. A spokesperson for parent company BMW said there’s no arrival date set for the Cooper SE or Aceman. Canadian prices aren’t listed yet, but in the United States, the Countryman starts at US$45,200.
The all-electric MINI Countryman SE ALL4 is expected to arrive in Canada later this year.Courtesy of manufacturer
VinFast VF 7 (Late 2024, maybe)
- Price: Unknown
- Federal iZEV incentive: Unknown
The VinFast VF 6 and VF 7 SUVs were unveiled at the Los Angeles auto show in 2022, but there’s no Canadian delivery date listed yet. However, a spokesperson for the company confirmed, “VF 7 might be here late in 2024.” Prices haven’t been announced, and the only range estimates available are overly generous European ratings. The Vietnamese company’s larger VF 8 SUV is currently available in Canada, arriving to less-than-glowing reviews, while the three-row VF 9 is due some time this year.