Buying an EV for less than $40,000 can be tricky. Many manufacturers offer an underpowered base model with a smaller battery pack to keep the nominal starting MSRP under $40,000.
Starting MSRP may not be the most critical factor. Several EVs are potentially eligible for the full $7,500 federal tax credit, which can lower the starting price.
The Chevrolet Equinox EV isn't the sportiest EV on the market, but it offers an impressive EPA range of 319 miles with a starting MSRP of $33,600.
Tesla discontinued the base Model 3, with a $38,990 MSRP. Part of the reason was the $42,490 Long Range option which made the base less appealing.
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