Finance 7 electric cars coming to market by 2020 that you can actually afford

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These are the electric vehicles coming to market that won't break the bank.

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(Volvo)
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A slew of long-range, electric cars are expected to hit the market by 2020.

Several of these electric vehicles will be made by luxury automakers and will likely cost upwards of $50,000.

But there are also several automakers working on EVs with a range of 200-plus miles that will likely have a friendlier price tag.

Here's a breakdown of the long-range electric cars coming to market in the next few years that people would be able to afford.

Tesla's Model 3 is expected to go into production before the end of 2017.

Model 3 manufacturing was a big miss. play

Model 3 manufacturing was a big miss.

(YouTube/Motor Trend)

The vehicle is expected to start at $35,000, but consumers will have to pay a couple thousand extra if they want Autopilot features activated.

CEO Elon Musk has said the Model 3 will have a range of at least 215 miles per charge and will be spacious enough for five people.

Tesla began taking preorders for the vehicle in April 2016 and says it has about 400,000.

While the company plans to deliver some of the preorders by the end of 2017, the bulk will likely be delivered in 2018. So if you want your Model 3 before 2020, you should place your order now.



Tesla also plans to launch its Model Y, a compact SUV, by 2020.

The Model Y will be Tesla's first compact SUV. play

The Model Y will be Tesla's first compact SUV.

(David Becker/Getty Images)

Musk said during the company's first-quarter earnings call earlier this month that the Model Y would arrive by late 2019 or 2020.

Musk has kept mum on most other details about the upcoming vehicle, but he has said it would be a compact SUV and be built on a platform separate from the Model 3.

Tesla has not shared a price range, but given that it already sells a luxury SUV, the Model X, and that the company wants to target the mass market, the upcoming SUV likely will have a more competitive price tag.

And considering that General Motors sells its all-electric SUV crossover, the Chevy Bolt, for $37,500 before tax incentives, it would make sense for Tesla to price the Model Y in the same ballpark.

However, there's always the possibility that Tesla could make the Model Y a cheaper version of the Model X, similar to the BMW X3, which starts at about $40,000.



Volvo says its first electric car is coming by 2019.

Volvo is aiming to price its first electric vehicle at about $40,000. play

Volvo is aiming to price its first electric vehicle at about $40,000.

(Volvo)

In April, Volvo said it would build its first all-electric car in China and export it around the world.

The vehicle is expected to have a 100-kilowatt-hour battery and a range of 250 miles per charge. But perhaps the best thing about the upcoming vehicle would be its price tag.

Lex Kerssemakers, CEO of Volvo Cars of North America, in March said he was pushing for its first electric car to fall near $40,000.



Volkswagen is expected to launch an electric crossover in 2020 with a range of about 300 miles per charge.

The ID will have a range of more than 250 miles per charge, Volkswagen says. play

The ID will have a range of more than 250 miles per charge, Volkswagen says.

(Volkswagen)

The German automaker plans to launch its Volkswagen ID in 2020.

The crossover is expected to have a price tag of $30,000 to $35,000 and have a range of about 250 to 300 miles per charge.

The vehicle will have a top speed of 99 mph and be able to accelerate from zero to 62 mph in less than eight seconds, Volkswagen says.



Ford is expected to launch an all-electric crossover utility vehicle in 2020 for the masses.

Ford's upcoming electric SUV is expected to be in a similar price range as the Ford Escape. play

Ford's upcoming electric SUV is expected to be in a similar price range as the Ford Escape.

(Ford)

While Ford hasn't revealed how much the vehicle will cost, Raj Nair, the company's chief technical officer, told Business Insider it would be priced for the masses.

"Our plan is for it to be an affordable vehicle, a mainstream model," Nair said. "To get electrification volumes where we would all like them to be, we have to make sure we make the affordability targets, or otherwise they are going to stay as a niche item or a pure luxury item."

Nair also said that the vehicle would have a range of more than 300 miles per charge.



The 2018 Nissan Leaf is expected to be available later this year.

The 2017 Nissan Leaf. play

The 2017 Nissan Leaf.

(Nissan)

The 2018 Nissan Leaf is expected to go on sale later this year and have a range of at least 200 miles per charge.

The 2017 Nissan Leaf costs about $30,700, but since the upcoming Leaf will have a greater range, it'll likely cost a bit more.



General Motors has launched its Chevy Bolt, which starts at about $37,500.

A masterpiece. play

A masterpiece.

(Hollis Johnson)

The Bolt has a range of 238 miles per charge, a top speed of 91 mph, and a cost of about $37,500 before a $7,500 federal tax credit.

GM began production of its vehicle last year, beating Tesla to the punch to create the first mass-market electric vehicle.