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The electric future is coming. Several major automakers have recently reiterated a desire to make at least 40% of the vehicles they produce in America electric vehicles by 2030. So, there will be a lot more EVs hitting the streets in the next few years. Some of the largest names in the industry have already rolled out electric vehicle nameplates. Electric SUVs from automakers like Tesla, Hyundai, and Chevrolet could become wildly popular in the next few years.

The Tesla Model Y is taking the world by storm

A blue 2023 Tesla Model Y small electric SUV is driving on the road.
The 2023 Tesla Model Y | Tesla

When you think of electric vehicles, what’s the first brand that comes to mind? Tesla has become synonymous with the rise of electric vehicles as an alternative method of transportation to internal combustion engine vehicles. Early on, millions of consumers believed that no electric vehicle could be practical or reliable enough to suit their lifestyles. Today, Tesla produces some of the most popular EVs in the world after two decades in the industry.

Tesla is still in its infancy compared to legacy automakers like Ford, but it is a pioneer in the electric vehicle space. The EV and clean energy company is responsible for the majority of the electric vehicle market share. Its competitors are making huge gains, but Tesla is holding on to its throne firmly. Recent price reductions can help it continue to dominate the market.

The Tesla Model Y is currently the most popular electric vehicle in the world. It has an impressive driving range and is incredibly quick.

The 2023 Tesla Model Y starts at $49,990. It has 279 miles of estimated standard driving range. The Model Y is currently eligible for a federal tax incentive of $7,500.

The Hyundai Ioniq 5 proves anyone can own an EV

Hyundai Motor Company produces affordable mainstream vehicles enjoyed by millions of working-class consumers. Electric vehicles can get expensive because of their complex powertrain systems, so many automakers are having trouble keeping them affordable without the help of federal electric vehicle tax credits.

The Ioniq 5 was a steal when it was eligible for the incentive. The small electric SUV may not qualify for the tax credit anymore, but it still provides great value for the money.

The 2023 Hyundai Ioniq 5 starts at $41,450. It gets 220 miles of standard driving range. The Ioniq 5 won the 2022 World Car of the Year award. In 2023, its relative, the Ioniq 6 won the award. Hyundai Motor Company has big plans for the electric future and is positioned to make an impact as more consumers choose EVs over internal combustion engine vehicles.

The Chevy Bolt EUV is a huge chess move by GM

Hyundai’s electric SUV may be affordable, but it isn’t the most affordable electric SUV on the market. That position is occupied by a General Motors electric vehicle with ties to a controversial model. The Chevy Bolt EUV is the subcompact SUV cousin to the Chevy Bolt EV. The Bolt EV was recalled because of a potential battery fire risk.

General Motors has since redesigned the Bolt and Bolt EUV, changing their platforms. Chevy has cut ties with LG after the battery fire fiasco. The Chevy Bolt EUV is trying to win back the trust of the average American consumer through pricing that’s tough to refuse.

The 2023 Chevy Bolt EUV starts at $27,800. It gets a whopping 247 miles of driving range, which is incredible for such a cheap electric vehicle. Car and Driver praises its tech and spacious cabin. We’ll have to wait and see how the Bolt EUV is received over the next few business quarters, but its value proposition certainly shows promise.


The Chevy Bolt EUV Is on the Verge of Overtaking the Ford Mustang Mach-E