Which EVs Offer the Best Range? A Price-Per-Mile Comparison
While prices for EVs can vary, a look into price-per-mile can shed light on the best deals out there. And upon closer inspection, some electric vehicles might be a far better value than you might have thought.
Apart from knowing which vehicles have the latest features, are comfortable, and are suitable for your lifestyle, it is good to compare their base price and price-per-mile. This article looks at some popular EV models and their price-per-mile. When coming up with the figures below, our friends at
compared all of the price-per-mile of EVs on the market. Let’s have a look at the top three.
Top three EVs in price per-mile comparison
It’s difficult to compare the value of electric cars—such is the discrepancy among prices on the market. However, here are the top three in terms of price per mile.
Chevrolet Bolt EV
Price: $124 per mile
At the top of the table is the new 2022 Chevrolet Bolt EV. It has the lowest price per mile of range at $124 per mile. The relatively low cost per mile makes sense, as the Bolt EV is one of the cheaper EVs on the market, starting at around $30,000. And it does well for range, too, as you can expect to get about 260 miles out of it on a full charge.
However, the Bolt might not be the best investment, as the vehicle is experiencing battery issues—and is facing a significant recall.
Tesla Model 3
Price: $134 per mile
The second best EV in the market is the Tesla Model 3. It may be surprising to see such a luxurious vehicle so high on this list, but the Model 3 is mighty effective at traveling long distances. It’s also a quick charger and is supported by a significant charging network, too.
Chevrolet Bolt EUV
Price: $136 per mile
The 2022 Chevrolet Bolt EUV rounds out the top three with a per-mile price of just $136. The compact and fun Chevy sells for $33,995 and can handle almost 300 miles of travel before needing a recharge.
The Hyundai Kona Electric is definitely the best among the cheapest EVs if you apply the federal tax credit to its price. Tax credit rules are complicated, but if your EV is in good working condition, and you consider it an everyday vehicle, you’re eligible for significant credit.
Such is the case for the Kona, as users can claim up to $7,500 in tax credits, resulting in a price-per-mile of $120 instead of $149.
Tax credit rules can help lower the per-mile cost of other vehicles, too. For example, the Tesla Model Y LR AWD ($167) represents better value for money than its competitors without tax credits. However, once credits come into play, owners of the Ford Mach-E and Volkswagen ID .4 can save at least $3 per mile. You may consider that when choosing your car.
Price can be misleading
Another observation from the list is that the Mini Cooper SE is the least expensive EV on the market. However, the Tesla Model 2 Plaid (which will sell at around $141,190 when launched) will have a better price per mile, largely due to the Mini’s inefficiency on the road.
At the bottom of the table is the 2021 Porsche Taycan Turbo, which sells at $178,850. Unfortunately for Porsche owners, even a tax break can’t rescue the car from a gaudy price of nearly $1,000 per mile.
Insuring your EV
It is advisable to insure your EV with the right policy. Insurance gives you the peace of mind that you are covered in case of any eventuality. With car insurance super app