Canada’s electric vehicle (EV) market is growing rapidly, with an array of new models hitting the streets each year. Currently, 20 automakers sell EVs in Canada. From SUVs, sedans, and hatchbacks to pick-up trucks and luxurious sports cars – there are several great options available for eco-conscious drivers. Sales growth is expected to continue, and both automakers and governments are investing in battery manufacturing and charging infrastructure. The industry is pushing ahead, making it easier than ever for Canadian car buyers to say “yes” to going electric. If you are looking for the top (and most efficient) EV models to buy, we’ve rounded up some of the best electric vehicles for 2024 to look forward to.
1. Best affordable electric vehicle – Chevrolet Bolt EV / EUV
The Chevrolet Bolt hatchback and its SUV-inspired sibling deserve their place in the top EVs available in Canada, given their attractive combination of price, capability, and features. How much do they cost? These cars have some of the most affordable starting prices among EVs (before incentives). Even with these modest sticker prices, you’ll enjoy plenty of features and more driving range, compared to similar front-wheel-drive competitors.
Pricing from $38,943 and $40,548
2. Best family EV – Hyundai Ioniq 5
If you need an EV that the whole family will love, this is it. The Hyundai Ioniq 5 provides excellent stability and comfort on the road, plus the latest in Hyundai’s safety and connectivity tech. It’s also incredibly roomy, with ample leg room in the backseat, and more cargo space than its closest competitors. It is the Best EV and Canadian Utility Vehicle of the Year, chosen by dozens of motoring experts at the Automobile Journalists Association of Canada’s 2023 Canadian Car of the Year awards. The Ioniq 5 beat out rivals like the Kia EV6 and Ford Mustang Mach-E. With reviews like these, the only question is where you’ll go on your next road trip.
3. Best affordable EV for long-range driving – Hyundai Ioniq 6 Preferred Long-Range
The Hyundai Ioniq 6 is the first of its kind to be released in Canada, and it’s sure to impress. It features a stylish exterior design, a luxurious interior, and powerful performance capabilities thanks to its electric motors. It also boasts an impressive range of up to 580 km on a single charge and can reach speeds of up to 185 km/h. Plus, it offers a host of driver-assist technologies to make your driving experience safer and more enjoyable.
Starting price: $54,999
4. Most Efficient electric vehicle for 2024 – Hyundai Kona Electric
This popular electric SUV boasts an impressive range of up to 400 km on a single charge. Korean automaker Hyundai recently overhauled its popular Kona crossover. It has additional technology and styling choices which can be best described as ripped straight from the pages of Terminator. Along with its gasoline-fuelled powertrains, the Kona is also available as a battery-powered all-electric. It will now carry a price tag under $50,000.
Starting price: $46,399
5. Best Electric Vehicle for Winter Driving – Polestar 2
You may be less familiar with the Polestar brand than the other names on our list (it hails from Sweden). But you’ll want to get to know the Polestar 2. This sporty four-door sedan is available with several options and packages. It’s also a lot of fun to drive, with its quick steering and responsive handling. It performs particularly well on ice and snow—good for our Canadian winters—and is more engaging to its driver than many competitors. This is thanks in part to its electronic assists.
Starting price: $54,950
6. Best luxury electric vehicle for 2024 – BMW iX
The all-electric iX is something to behold. This midsize SUV is spacious, comfortable, surprisingly efficient, and ridiculously agile for its size. The 2024 BMW iX is among the top-rated all-electric luxury SUVs, and for good reason. It’s about the same size as the automaker’s midsize X5, and stands out with its roomy seating and impressive power and range. Even the entry-level xDrive50 has two electric motors, all-wheel drive, 516 horsepower, and more than 300 miles of range. Alternatively, you can pick the M60 version that dials up 610 hp and can rocket from 0 to 60 mph in just 3.5 seconds.
7. Honorable mention – 2024 Genesis EV60
This funky-looking crossover serves as the luxury brand’s first dedicated electric vehicle which doesn’t have a direct internal-combustion counterpart. The GV60 employs the same foundation as the Hyundai Ioniq 5 and Kia EV6. All in all, we think the Genesis GV60 is a superb luxury electric SUV.
Pricing from $72,500 – $80,500
8. Best Electric Vehicles for Access to Charging Stations – Tesla Model 3 Long Range AWD
Tesla’s EV charging network is second to none in Canada, making it easy to keep the Model 3 Long Range AWD powered up on longer trips. How long? This top-of-the-line EV offers one of the best driving ranges in Canada and the industry, at 576 kilometres. The Model 3 has received a welcome styling refresh for 2024, complete with a sleeker front end, a quieter cabin, and updated standard features. Drivers will also admire the Model 3’s interfaces and apps and appreciate the ability to “pre-condition” the battery for even faster top-offs at a supercharger stop.
Starting price: $42,000
Are there EV incentives in Canada? Electric vehicles for 2024 qualify for Federal government incentives. This includes point-of-sale incentives of $2,500 to $5,000 for consumers who buy or lease an EV.
9. Best Electric Pickup Truck – 2023 Ford F-150 Lightning
The Ford F-150 Lightning is the all-electric version of Ford’s best-selling pickup truck. Canadian EV buyers can choose from various battery and motor combinations. It comes with the latest in connectivity, safety, and convenience tech—along with fully digital instrumentation, standard 4×4, and an available range of over 480 kilometres. Plus, the truck doubles as a giant battery, able to power your campsite, work site or home, if needed.
Starting price: $59,995
10. Best EV for size and interior space – Volkswagen ID Buzz
Launching in 2024, the Volkswagen ID Buzz is a little bit retro, plus a whole lot of room. Aside from the uber-expensive Tesla Model X, it will be the most spacious EV in Canada, with 1,233 litres of cargo capacity and a maximum cargo volume of 2,593 litres. It seats up to seven passengers, and you can remove the seats for large loads. The ID Buzz will be offered in rear-wheel and all-wheel drive models and is expected to arrive in Canada in mid-2024 with its old soul, and new body.
Starting price: $45,000
Best Resale Electric Vehicles in Canada
Nowadays, more and more car buyers are starting to consider going green with an electric car if they can find one at the right price. We’ve seen some electric cars have fallen in value rapidly in just five years of ownership. However, some electric cars hold their value over time and depreciate much slower than the average. EVs that have higher dependability ratings and premium technology are more popular in the used-car market, and they tend to hold the best resale value. Let’s take a look at some of them below:
Ford Mustang Mach-E
The Ford Mustang Mach-E made its debut in Canada, and the world, in 2020, to wide acclaim from car reviewers, buyers, and industry awards programs. This roomy ride did very well at the 2022 Canadian Car of the Year awards, earning top scores for cargo, refinement, ride comfort, and features. Speaking of features, the Mach-E has a strong safety and technology package. Plus, it’s available with all-wheel-drive, a feature that many drivers consider a must-have.
Here are some other resale EVs that hold their value:
- Tesla Model S: Starting at $64,500; Range of 652km
- Tesla Model 3: Starting at $56,390; Range of 423 km
- Nissan Leaf: Starting at $34,780 (base); Range of 243 km
- BMW i3: Starting at MSRP starts at $44,450; Range of 246 km
- Volkswagen e-Golf: Starting at $37,890; Range of 198km
If you are considering an electric vehicle, be sure to look carefully at your lifestyle needs and crunch your numbers. Not quite ready to go all-electric? Hybrid cars offer the eco-friendly benefits of an electric car with the conveniences (like the abundance of gas stations) of a gas car. No matter which choice best suits your needs, one thing is certain: the future of electric cars is bright. Certain insurance companies are offering discounts or special deals for eco-friendly vehicle drivers. Before taking the plunge with one of these electric vehicles for 2024, inquire about auto insurance discounts with your isure broker today!