Top 10 Most Affordable Electric Vehicles in 2025
Published on March 1, 2025, in Top 10 by Nicolas Tardif
Canadian electric vehicle shoppers may face some challenges.
Earlier this year, the federal government’s Incentives for Zero-Emission Vehicles (iZEV) program abruptly ended due to a lack of funds, eliminating rebates of up to $5,000. Quebec also suspended its incentives, offering up to $4,000. To avoid vehicles piling up on dealer lots, several manufacturers have introduced generous discounts. This article compiles a list of the 10 most affordable electric vehicles in Canada for 2025, considering these discounts and incentives.
Please note that the prices listed below are accurate at the time of writing but are subject to change. They include freight, PDI, dealer fees, and A/C tax. They do not include discounts or sales tax. Range ratings are sourced from Natural Resources Canada.
- VinFast VF 8 – $56,390 (MSRP of $53,600)
Manufacturer discount: $3,500 at the time of writing. Range: 412 km.
This Vietnamese automaker’s first vehicle in Canada has garnered interest, thanks to its size, warranty, range, and competitive lease payments, alongside low financing rates. Leasing may be a smarter option, considering concerns about reliability, replacement parts availability, and residual value.
- 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 received a facelift, a rear window wiper, a larger battery (84 kWh instead of 77.4 kWh), and new XRT and N models. The base model continues with its 63kWh battery. The Kia EV6, which is closely related, is expected to receive the same updates in the spring.
- Nissan Ariya – $52,996 (MSRP of $49,998)
Manufacturer discount: Up to $10,000 at the time of writing. Range: 348 km.
Price cuts introduced last fall make the Nissan Ariya a compelling value proposition. It impresses with its comfort, quietness, and spaciousness. However, none of the available powertrain configurations stand out in terms of power, charging capacity, or driving dynamics.
- 2024 Volkswagen ID.4 – $51,210 (MSRP of $48,495)
Manufacturer discount: $8,000 at the time of writing. Range: 332 km.
Volkswagen had not yet launched the 2025 ID.4 at the time of writing, but major changes from the 2024 model aren’t expected. Dealers are still clearing out remaining 2024 models, with the model having faced a sales interruption due to a recall on door handles. Despite the ID.4’s track record for reliability, discounts and efficient powertrains make it an appealing option.
- Toyota bZ4X – $49,467 (MSRP of $46,515)
Manufacturer discount: $2,500 at the time of writing. Range: 406 km.
Aided by Toyota’s brand reputation, the bZ4X has found its audience, despite its interior design, looks, and performance (201 hp to 215 hp, depending on the model). It may not compare favorably to rivals, including the slightly more adventurous Subaru Solterra, which currently offers a significant $10,000 discount.
- Hyundai Kona EV – $49,330 (MSRP of $46,499)
Manufacturer discount: None at the time of writing. Range: 420 km.
Hyundai appears to have successfully redesigned the Kona, as seen by increasing sales. This subcompact SUV has grown in size and refinement. The electric version maintains a 64.8kWh battery, and while range has increased to 420 km, torque has decreased. All-wheel drive remains unavailable. The price difference with the gasoline-powered Kona is slowly shrinking.
- Kia Niro EV – $48,612 (MSRP of $45,595)
Manufacturer discount: $3,000 at the time of writing. Range: 407 km.
The upcoming Kia EV3 could overshadow the Niro EV and push it towards the end of its production cycle. The Niro EV, despite its older technology shared with the Hyundai Kona EV, remains a practical front-wheel-drive crossover, with 1,805 litres of maximum cargo space.
- Chevrolet Equinox EV – $48,325 (MSRP of $44,999)
Manufacturer discount: $1,000 at the time of writing. Range: 513 km.
While awaiting the second-generation Bolt EV, Chevrolet promises the Equinox EV offers an excellent value proposition. The base price of this compact electric SUV aligns with subcompact rivals, such as the Kia Niro EV and Hyundai Kona EV. The Equinox EV provides the size, range, and optional all-wheel-drive system to meet the needs of many Canadian drivers, but buyers should be aware of the expensive options.
- Nissan Leaf – $44,670 (MSRP of $41,748)
Manufacturer discount: None at the time of writing. Range: 240 km.
The Nissan Leaf is an outdated EV by today’s standards, in comparison to newer competitors with more advanced features and comparable pricing. Avoiding the SV Plus model, priced close to $50,000 may be a good idea.
- 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 has a 117-hp electric motor and a 42kWh battery, providing up to 227 km of range. Drivers may achieve a greater range during the summer months. Discounts from Fiat and its dealers could lead to lease payments of under $400 per month. The La Prima edition isn’t recommended as it only includes a unique Rose Gold body colour.
