With the introduction of the 2022 Chevrolet Bolt EV, the price per mile of range of a new electric car has reached a new record low of $124/mile.
In this post we compare the base prices (MSRP plus destination charge) and EPA Combined range - the only common metrics that we have in the U.S. BEV market. Additionally, we add the price per mile, after applying the federal tax credit (if eligible).
The new Bolt EV is on the top, although we all know that this is because the MSRP went down significantly compared to the 2021 model year, which was offered with huge discounts (up to around $10,000).
Anyway, the price per mile of range shows us a gradual improvement on the market. The second best, Tesla Model 3 Long Range AWD is now at $134/mile, compared to $137 previously. Third is the new Chevrolet Bolt EUV at $136/mile.
The Hyundai Kona Electric is still the market leader among BEVs after applying the federal tax credit ($7,500) - the result is then $120/mile (instead of $149/mile).
Down the table, we can see that before the federal tax credit, Tesla Model Y LR AWD ($154/mile) is above Volkswagen ID.4 ($164/mile) and Ford Mustang Mach-E ($167/mile).
An interesting finding is that the upcoming $141,190 Tesla Model S Plaid+ with 520 miles (837 km) of expected range is a better option in terms of price per mile than the MINI Cooper SE, the least expensive BEV available.
For more of our latest comparisons, check out our Compare EVs card here.
* estimated/unofficial values
** only models for which data are available