10 Cheapest EVs in Canada for 2026

People expect electric vehicles (EVs) to be expensive, an issue that has been identified as one of the major barriers holding people back from making the switch. And while government incentives are no longer available to subsidize EV prices, 2026 will still be a big year for affordable EVs.

This year brings a wave of highly competitive new EVs, many priced below older models still on the market. As automakers approach economies of scale, EVs are becoming more affordable, and we’re already seeing the impact.

Compared to last year’s list, the price range is far narrower, with many new EV models making up the list. Budget EVs are far more competitive this year, offering greater range figures and newer tech with fewer compromises. It's worth noting that the Subaru Uncharted and Toyota CH-R (which share a platform) would likely be on this list, but at the time of writing, pricing has yet to be announced. Nevertheless, budget-conscious EV buyers should keep these models in mind when shopping.

This list highlights the 10 most affordable electric cars in Canada available for 2026, with only MSRP and freight costs displayed. When shopping, keep in mind that every dealer has additional costs associated with the final purchase price.

10. Volkswagen ID.4 Base: $50,695 ($48,495 MSRP + $2,200 destination)

The Volkswagen ID.4 is a returning contender from previous years and is also one of the older models on this list, as it was released for the 2021 model year. This older architecture is reflected in the ID.4’s performance; it comes with a 62-kWh battery with power coming from a single electric motor producing 201 hp and 229 lb-ft. Range is the category where the rear-wheel-drive ID.4 suffers most, with a rating of 332 km. Luckily, the battery recharges pretty quickly, going from 10 to 80 per cent in about 28 minutes under ideal conditions.

9. Chevrolet Equinox EV LT: $48,799 ($46,199 MSRP + $2,600 destination)

The Chevrolet Equinox EV is a strong budget competitor, with the highest range and most power on this list: 513 km and 220 hp and 243 lb-ft, respectively. The Equinox EV also has the excellent benefit of adding 110 km of range in just 10 minutes under ideal charging conditions. Its 17.7-inch infotainment screen also makes it the largest display on this list. On paper, the Chevrolet Equinox EV is a seriously competitive budget EV to consider, as it boasts a lot of best-in-class specs in multiple categories.

8. Toyota bZ XLE FWD: $47,920 ($45,990 MSRP + $1,930 destination)

The Toyota bZ, like the ID.4, is also one of the older models on this list. It has a slightly better range rating, at 380 km from its 57.7-kWh battery. Charging is also on the faster side, with the bZ capable of going from 10 to 80 per cent in 28 minutes. The bZ benefits from having a bigger infotainment screen, with a 14-inch display. Unfortunately, the bZ is underpowered compared to other vehicles on this list, with its single electric motor producing only 168 hp and 198 lb-ft.

7. Kia Niro EV Wind: $47,595 ($45,595 MSRP + $2,000 destination)

The Kia Niro EV is another returning contender from previous years, and in terms of performance, it sits somewhere in the middle of the pack. Its single motor powers the front wheels and produces 201 hp and 188 lb-ft. It utilizes a 64.8-kWh battery with a middle-of-the-road range rating of 407 km. Charging performance is slower, with the Niro EV capable of charging the battery from 10 to 80 per cent in about 43 minutes under ideal conditions. The 10.25-inch infotainment screen of the Niro EV is also rather small.

6. Nissan Leaf S Plus: $47,093 ($44,998 MSRP + $2,095 destination)

This year brings a new generation of the Nissan Leaf that gets massive improvements over the outgoing model. Range is the biggest improvement, with the base S Plus trim having the highest range in the Leaf lineup, with 488 km. This is the second-best figure on the list, closely rivalling the Equinox EV’s range. Charging times are also solid, with the Leaf capable of going from 10 to 80 per cent battery in 35 minutes. Power is also decent, with the single electric motor producing 214 hp and 261 lb-ft, giving the Leaf the best torque figure on the list. The Leaf S Plus comes standard with a 12.3-inch display equipped with wireless Apple CarPlay and Android Auto.

5. Hyundai Kona Electric Preferred: $46,049 ($43,999 MSRP + $2,050 destination)

Making it into the top five is the Hyundai Kona Electric, the sister car to the Kia Niro EV. The two vehicles have very similar performance with the same 64.8-kWh battery, and a single motor producing 201 hp and 188 lb-ft. Range is slightly better than the Niro EV, with a rating of 420 km compared to 407 km. Charging performance is unfortunately the same, with the jump from 10 to 80 per cent taking 43 minutes. The Kona’s 12.3-inch infotainment screen is slightly larger, but it also comes standard with Apple CarPlay and Android Auto.

4. Kia EV5 Light FWD: $45,495 ($43,495 MSRP + $2,000 est destination)

The Kia EV5 is one of two new electric vehicles from the brand set to be released in 2026. The strength of the EV5 is its combination of value and space. It's by far the most practical vehicle on this list, with a massive cargo capacity of 965 L in the trunk and 2,080 L with the rear seats folded. This is very similar to the storage space of the compact Honda CR-V. The entry-level trim has a 60.4-kWh battery, giving the EV5 a range rating of 335 km. Power comes from a single electric motor sending power to the front wheels, producing 215 hp and 218 lb-ft, closely rivalling its competition.

3. Chevrolet Bolt LT: $42,599 ($39,999 MSRP + $2,600 destination)

The Chevrolet Bolt is back with improved tech after being briefly discontinued in 2023. The Bolt has a range rating of 410 km from its 65-kWh battery. Meanwhile, charge times have also improved, with the ability to go from 10 to 80 per cent in just 26 minutes. Power is squarely aligned with its competitors, with a single motor producing 210 hp and 169 lb-ft. Its 11.3-inch infotainment screen is relatively small. The Bolt isn’t yet available for purchase, but is expected to arrive soon.

2. Fiat 500e: $42,090 ($39,995 MSRP + $2,095 destination)  

While the Fiat 500e is the second most affordable EV on this list, the honour comes with significant compromises. Offering only 227 km of range courtesy of its small 42-kWh battery, this figure is about half of some of the other vehicles on the list. With the single electric motor producing just 117 hp and 162 lb-ft, it’s also the least powerful EV here. Its limited size and range might make it a better option for people who don’t need to travel long distances. On the plus side, the tiny Fiat comes with wireless Apple CarPlay and Android Auto as standard projected through a 10.25-inch screen. The Fiat 500e is also stylish and adorable.

1. Kia EV4 Light: $40,995 ($38,995 MSRP + $2,000 est destination)

For 2026, the Kia EV4 Light is the cheapest electric car in the country, but it’s a lot more impressive than its price suggests, especially considering how few compromises it makes. The base model comes with a 58.3-kWh battery rated for 391 km of range, and charging from 10 to 80 per cent takes just 30 minutes. Power comes from a single electric motor driving the front wheels, producing 201 hp and 209 lb-ft.

With the next trim up starting at $42,995, buyers can get the larger 81.4-kWh battery, which offers as much as 552 km of range. Despite this price increase for the larger battery, this version of the EV4 still has a placement on this list. Regardless of trim, the EV4 offers exceptional value for money, comfortably rivalling any other budget EV.