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11 Electrified Cars Under $40,000

Electrification has taken over. From hybrids to battery-electric vehicles, you now have a full spectrum of models to choose from. They also feature varying levels of electrification and come in different body styles. We go through 11 electrified cars for $40,000 or less. This means sedans, hatchbacks, and wagons, traditional cars, not crossovers or SUVs. One differentiator with the way we do our lists here at Stefan on Cars is that every trim must not go over the price limit. That means a fully loaded version needs to cost less than $40,000 for a model to get included.

Electrified Cars: Hybrids, Plug-In Hybrids, and EVs

Toyota Corolla Hybrid

The best-selling nameplate worldwide now offers a hybrid variant. For 2023, Toyota refreshed the Corolla Hybrid with an upgraded powertrain, two new trims, and optional AWD. It also gets Toyota’s latest infotainment system housed on an 8.0-inch touchscreen and the Toyota Safety Sense 3.0 driver assistance suite.

Hyundai Elantra Hybrid

Quite possibly the most compelling sedan in Hyundai’s lineup, the Elantra Hybrid blends comfort, fun, technology, and practicality in a compact package. Best of all, it manages to stay under $30,000 fully loaded and gives you a host of convenience and tech features.

Toyota Prius

Toyota’s iconic Prius soldiers on as an efficient and practical option. Essentially a compact sedan with a hatch, this hybrid offers lots of space while keeping its exterior footprint small. Additionally, certain trims feature AWD as an option for those living in regions that experience four seasons.

Honda Accord Hybrid

Perhaps the best driving midsize sedan available, the Honda Accord Hybrid doubles down with great efficiency. Honda’s two-motor hybrid powertrain sports a unique setup that ditches the traditional transmission in favor of a direct drive setup. In certain situations this allows the car to drive more like an electric vehicle, especially with the multi-level regenerative braking system.

Toyota Camry Hybrid

Among electrified cars, the Toyota Camry Hybrid stands out for its comfort. With its 208-hp hybrid powertrain, it gives you power and efficiency. The roomy interior and comfortable cabin make it a fantastic road trip vehicle. For 2023, an updated Nightshade Edition model joins the lineup with bronze wheels and accents.

Hyundai Sonata Hybrid

The Hyundai Sonata Hybrid punches way above its weight. It offers the best tech features and an interior that wouldn’t feel out of place in a sedan wearing a luxury badge. Excellent efficient and good power live in harmony, resulting in a class above sedan with an attractive price tag.

Toyota Prius Prime

Building on the standard Prius, the Prius Prime gives you extra powertrain flexibility and the ability to operate in all-electric mode. You also get a more attractive exterior design with model-specific headlights and taillights. However, the larger battery pack eats into the cargo area, reducing its overall capacity.

Mini Cooper SE Hardtop

Mini’s all-electric Cooper SE Hardtop brings the brand’s trademark go-kart handling to the future. With 181 hp and 199 lb-ft of torque on tap, you have a lot of power to play with. Its size also makes it the perfect city car since this fits into nearly every parking spot. Just make sure you can make the 114-mile range work.

Chevrolet Bolt EV

The Chevrolet Bolt EV now stands as the value leader among long range electric vehicles. Even when you load it up with every bell and whistle, it barely crosses the $30,000 mark thanks to a $5,900 price drop for the 2023 model year. Together with its 259-mile range, the Bolt EV’s value game ranks among the highest of any electrified car.

Nissan Leaf

A pioneer among electrified cars, the Nissan Leaf proved the mass market viability of EVs. The latest version may be the last but it offers incredible value topping out below $40,000. For that money you get a range of 212 miles and Nissan’s ProPilot Assist semi-autonomous driver assistance system. However, expect longer charging sessions due to the Leaf’s air-cooled battery. Furthermore, it also uses the CHAdeMO DC charging standard, which is increasingly hard to find.

Chevrolet Bolt EUV

Like its smaller sibling, the Bolt EUV got a significant price drop for 2023, making it shockingly affordable. This one, on the other hand, gets more features including ventilated front seats, heated rear seats, and a sunroof. The Bolt EUV is also the least expensive vehicle available with Super Cruise, General Motors’ hands-free semi-autonomous driver assistance system. As a result, the Bolt EU makes for a stellar bargain at roughly $38,000 for a loaded Premium grade.