U.S. electric‑vehicle sales have slipped since the $7,500 federal credit expired, prompting several manufacturers to drop models. Yet a niche of affordable, long‑range EVs is expanding, with more than a dozen 2026 models delivering 300‑plus miles for under $40,000. The trend reflects falling battery costs and a growing inventory of budget‑friendly options.

Battery packs now average about $100 per kWh, a steep drop from roughly $1,000 a decade ago, according to BloombergNEF. That price compression has lifted range while pushing prices down, letting the 2026 Nissan Leaf hit 303 miles at a $31,500 sticker and the Chevrolet Equinox EV reach 319 miles for $36,800. Both score over nine miles per thousand dollars, far ahead of luxury rivals.

Even as overall EV registrations fell 27 % between early 2025 and early 2026, low‑cost high‑range trims held their ground, with models like the Lexus RZ+ and Toyota bZ+ posting double‑digit sales growth. Compared with a gasoline Corolla that costs $25,000 and burns $1,100 annually in fuel, a $32,000 Leaf costs roughly $600 a year to run, narrowing the total‑ownership gap over a decade.