Categories: Cars

Most affordable EV? 2024 Nissan Leaf costs $25,505 with credit

The 2024 Nissan Leaf once again qualifies for half of the federal EV tax credit, Nissan announced Wednesday. The electric hatchback effectively costs $25,505 with the partial $3,750 credit, making it by far the most affordable EV on sale now.

It’s also the oldest. Launched late in 2010, the Nissan Leaf was the first mass-produced electric vehicle sold in the U.S., and it remains a barometer of how much the industry has changed in the shift to electrification. One thing that hasn’t changed for the Leaf is its value proposition.

The 2024 Nissan Leaf costs $29,255, including a $1,115 destination fee. That’s for the Leaf S base model with the relatively small 40-kwh battery pack and a front motor making 147 hp and 236 lb-ft of torque. It has an estimated range of 149 miles, which is the lowest range rating of any electric car except for what remains of the 2024 Mini Cooper SE (114 miles, $38,000) before the redesigned 2025 model arrives (245 miles, $47,000).

Interested Leaf shoppers could pay extra for more range by selecting the Leaf SV Plus for $37,305. It has a 60-kwh battery pack, a larger motor that makes 214 hp and 250 lb-ft, and an estimated range of 212 miles. With the credit, the SV Plus costs $33,555, which is also cheaper than any other electric car on sale now.

Both models qualify for the $3,750 EV credit as long as they’re purchased after March 6, 2024. The credit can be applied at the point of purchase with participating dealers, effectively acting as a discount incentive since the shopper doesn’t have to wait for their tax return. Like many other EVs, the Leaf had been in limbo during the stricter phase-in this year of the battery component clause in the Inflation Reduction Act. Since the battery pack and the car are now assembled in Smyrna, Tenn., it qualifies again for the partial credit. It doesn’t meet the criteria for the full $7,500 credit because of the “origin of critical mineral content” component, that neither the Leaf nor the upscale Nissan Ariya qualifies for due to mineral sourcing for the battery components.

Earlier this week, Nissan cut the price by $3,600 on the Ariya electric crossover, resulting in a starting price of $40,980 for the single-motor model with the 63-kwh battery pack. Ariya models with the larger 87-kwh battery pack had a $6,000 price cut to juice sales as well as to offset that it doesn’t qualify for any of the EV credit because it’s made in Japan.

Automakers such as Ford and Tesla also cut prices on their electric vehicles this year to better align demand with supply in the competitive EV segment.

The Chevy Bolt had been the most affordable EV before GM discontinued it this year for a redesigned model expected next year.

The list of 2024 EVs that qualify for some or all of the federal EV credit as listed by the IRS are as follows: