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It’s finally time. You’ve decided to make the switch and join the zero-emission club. Buying your first electric car comes with a whole new experience. Once you feel the instant torque, upgraded technology, and smoother drive, you will never go back. Now the question becomes how do you choose which electric car to buy? Here are a few factors to consider.

How to choose your first electric car

Like with any major purchase, it’s good to know your options and what to look for. You wouldn’t blindly buy a house without knowing how the inside looks or feels. The same holds true when purchasing an electric car.

Americans are buying electric vehicles (EVs) at a record pace as new electric models appear in showrooms. According to Cox Automotive, electric cars accounted for 5.6% of the total auto market this past quarter, more than doubling from 2.7% in 2021.

Tesla remains the dominant brand, yet most major automakers at this point have introduced their own electric models and are beginning to scale production.

With more options than ever, where do you start? It’s not as complicated as it may seem for first-time buyers. However, there are a few things you should consider before choosing the right EV for you. Here are a few tips and considerations for selecting your first electric car.

first-electric-car
Hyundai IONIQ 5 Source: Hyundai

Price and incentives

Yes, there are incentives to buy electric cars. The Inflation Reduction Act, passed in August, extends the up to $7,500 tax credit for new electric car purchases and provides a $4,000 credit for used ones.

For an EV to be eligible, though, it must meet strict battery sourcing and assembly requirements. You can find a list of electric cars eligible for the tax credit here.

Several popular EV models make the list, including:

  • Chevy Bolt EV and Bolt EUV
  • Ford F-150 Lightning
  • Ford Mustang Mach-E
  • Nissan Leaf
  • Tesla Model 3
  • Tesla Model Y

The average price for an electric vehicle in September 2022 is just over $65,000. However, that doesn’t mean that all EVs cost that much. For example, here are a few of the most affordable electric cars on the market and their starting prices:

Starting price
2023 Chevy Bolt EV $25,600
2023 Chevy Bolt EUV $27,200
2023 Nissan Leaf $28,040
2023 Hyundai Kona Electric $33,550
2023 Volkswagen ID.4 $37,495
Most affordable electric cars list
first-electric-car
2022 Chevrolet Bolt EUV Source: Chevrolet

Driving range

Another huge consideration when buying your first electric car is how far it will travel on a full charge. The range is one of the most critical factors for drivers. Do you mostly commute to work? How often do you travel long distances? Do you live in a house or an apartment?

These are a few questions you may want to ask before deciding which EV is right for you. Here are the electric cars with the highest range and their starting prices to make it easy for you.

Range (est.) Starting Price
Lucid Air Dream Edition 520 $169,000
Tesla Model S 375 $109,490
Tesla Model 3 Long Range 358 $62,990
Mercedes Benz EQS 350 $102,310
Tesla Model X 333 $120,990
Tesla Model Y 330 $67,990
EVs with the longest range in 2022
first-electric-car-1
Tesla Model S Source: Tesla

Vehicle type

Why not choose a car you love driving? Electric cars offer a driving experience that’s superior to their gas-powered counterparts. With instant torque, you can feel the power behind the wheel. Furthermore, because they have no internal combustion engine and fewer moving parts, EVs are quieter and offer a smoother ride.

At the same time, you don’t have to give up your favorite type of vehicle by switching to electric cars. Automakers have introduced an EV in every category to fit all driver styles. Below are a few examples in each category.

Electric car model
Sedan Tesla Model 3
Crossover/
compact
Kia EV6
Tesla Model Y
Hyundai Kona EV
Chevy Bolt EV
Chevy Bolt EUV
Ford Mustang Mach-E
Polestar 2
Volvo C40
SUV Hyundai IONIQ 5
Volkswagen ID.4
Rivian R1S
Jaguar I-Pace
Chevrolet Blazer EV
Audi e-tron
Kia Niro EV
Mercedes EQS
Truck Ford F-150 Lightning
GMC Hummer EV
Rivian R1T
Luxury Tesla Model X
Lucid Air
Types of electric cars
Kia Niro EV Source: KIA

Charging considerations

Last and certainly not least is charging availability. If you own a home, it’s ideal to have a charging option at home. This way, every morning you wake up, you will have a fully charged electric car ready to take on the day. It’s common for about 80% of charging to be done at home.

To state the obvious, it’s best to place the charger where you typically park. However, not all EV models will have the charging point in the same location (some are near the back, while others can be in the grille).

The next thing you will want to factor in is the charging speed. Most new EVs will come with a level 1 charger, the slowest equipment using the standard 120-volt connection. Level 1 can take ten or more hours to charge your EV.

You can upgrade to a level 2 charger, but it will require a 240-volt power source. Meanwhile, Level 2 charging units can fully charge an electric car in around 3 to 8 hours.

For those who don’t own a home, it’s okay. There are charging options for you, too. You can always talk to your apartment manager to see if EV charging installation is viable (it makes a good investment)

If that’s not an option, plenty of public options are available. Automakers like Tesla are building their own Supercharging network, allowing drivers the freedom to go anywhere. Meanwhile, federal funding is contributing to the rollout of a national EV charging network.

Other companies, such as ChargePoint and EVgo, provide chargers to private businesses and for public use, expanding access further.

Most electric vehicles use the latest in connected technology, letting you know when and where to charge so you know exactly how far you can travel.

Which electric car will you choose first?

Your ideal first electric car will depend on several factors, including your budget, travel habits, and lifestyle. To get you started, here are a few of my top electric vehicle choices for first-time buyers:

Top electric cars for first-time buyers

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This new sun-powered electric cargo moped is literally giant solar panels on wheels

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This new sun-powered electric cargo moped is literally giant solar panels on wheels

Cargo scooters are a rare breed, filling a niche that exists between typical e-bikes/e-scooters with minimal storage and larger cargo-specific models designed for utility. But that dearth of cargo scooters may be changing, based on several interesting new models we’ve seen lately, including the recently unveiled Lightfoot cargo electric scooter.

Yet unlike the few other cargo scooters rolling around out there, the Lightfoot has one major advantage: its built-in solar panels keep it charged up directly from the sun.

It’s not the first solar-powered scooter we’ve seen, but it’s definitely the most eye-catching model yet.

Developed by Otherlab, the Lightfoot electric cargo scooter features a pair of 120W solar panels on either side, hiding a large 45.2 L (12-gallon) storage compartment. One panel is hinged, opening the entire side of the vehicle for easy cargo access, then locking back in place for secure storage.

Also hidden away by those panels are the equally large UL-certified 1.1 kWh battery and the 600W on-board charger (just in case you do need to plug it into the grid for a quicker charge than you’d get from the solar panels). In fact, the company claims an 80% charge is possible in just 90 minutes from a 110V wall outlet. Based on the company’s figures, it looks like solar charging is likely to fill the battery at a rate of roughly 7-8% per hour (around 3 miles or 5 km of additional range per hour of sun exposure). That means heavy utility users will likely still rely on the wall plug from time to time, but there’s nothing wrong with outdoor parking helping to extend the range.

The company rates the scooter’s range as up to 37 miles (60 km) per charge and claims an extra 18 miles (30 km) of range can be added per day from the solar panels.

That means the scooter could actually be purely solar-charged when used for modest duty cycles, i.e. less than 18 miles (30 km) per day. As the company explained, “If you only need it for a few short errands a day, park it in your driveway and it will always be ready for you. For many riders, we’re hoping this means saying goodbye to plug-in charging altogether.”

With a 20 mph (32 km/h) top speed, the scooter is said to be “bike lane legal” without requiring any additional license or registration.

The Lightfoot is also designed to be easy to work on with minimal mechanical components. The dual motor system relies on hub motors instead of centrally mounted motors, meaning there are no chains or belts to deal with. Between those two 750W rated (1 kW peak) motors, the scooter should get up to speed pretty quickly while laying down nearly 2,000 watts of power.

The company is offering a 1-year warranty on the entire scooter, with an even longer 2-year warranty for the major components consisting of the frame, motors, controllers, brakes, lighting, and front suspension. The scooter is also covered by an “ironclad buy-back guarantee” with the company promising to buy the scooter back from any riders who are “unsatisfied with their purchase for any reason.”

Set to begin deliveries in January 2025, the Lightfoot is now available for purchase with an MSRP of US $4,995.

Electrek’s Take

Look, I’m split here. My inner mechanical engineer is drooling over this thing, while my inner MBA is wondering how you sell it to a broader market than… people like me. My two professional backgrounds have often been in conflict before, but this is peak engineer’s delight meets ultra-niche aesthetic.

Sure, I would 100% ride the hell out of this thing. I’d ride it everywhere with zero qualms about the appearance. But I’m probably not the best representative of the average scooter customer since I tend towards the tech nerd side of the spectrum. And so I hope that the Lightfoot can find wider appeal than I fear it may be limited to.

Oh, and for all of those ready to hammer out the “AcTuAlLy ThAt’S NoT tHe MoSt EfFiCiEnT WaY tO dO iT…” comments, I think that’s missing the point. The whole idea here isn’t to maximize every photon, but rather to not waste the ample sunlight that otherwise simply bakes the paint on every other scooter and moped out there (and don’t get me started on the “moped” linguistic purists). Sure, you’re probably only ever getting appreciable solar charging from one panel at a time, but why not maximize your chances of catching those rays whenever you can?

So all told, I love this thing. I just wonder how many people will love it as much as I do.

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Hyundai confirms IONIQ 9 SUV debut date while teasing first look at its ‘lounge-like’ interior

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Hyundai confirms IONIQ 9 SUV debut date while teasing first look at its 'lounge-like' interior

Hyundai will finally unveil its first three-row electric SUV, the IONIQ 9, at the LA Auto Show next week. With its debut around the corner, we are getting a sneak peek at the SUV’s “lounge-like” interior.

Hyundai IONIQ 9 will debut on November 21, 2024

The 2025 Hyundai IONIQ 9 will make its first appearance at AutoMobility LA (LA Auto Show) on Thursday, November 21, 2024.

Hyundai will hold a news conference inside the LA Convention Center to unveil its new flagship three-row electric SUV. The event will be live-streamed starting at 9:10 am PT (12:10 pm ET).

Although rumors claimed that Hyundai would reveal its new SUV at the LA Auto Show, this is the first time it has officially confirmed the debut date. Previously, the company left it open, saying it would make its first appearance in November.

Ahead of its official debut, Hyundai previewed the IONIQ 9’s “lounge-like” interior. Simon Loasby, head of Hyundai’s Design Center, boasted that “IONIQ 9 offers the ultimate lounge-like environment.”

The spacious and “nature-inspired” interior features Hyundai’s latest software and connectivity tech. Based on its advanced E-GMP platform, following the IONIQ 5 and 6, the larger SUV includes a flat floor for an open space cabin.

Hyundai-IONIQ-9-debut
Hyundai teaser IONIQ 9 interior ahead of its debut (Source: Hyundai)

What to expect

Hyundai has been dropping new teasers leading up to its debut. Earlier this week, we got a look at the IONIQ 9’s new LED light bar, similar to the Tesla Cybertruck.

The IONIQ 9 features Hyundai’s new “Aerosthetic” design, which blends aerodynamics with a sleek aesthetic look.

Hyundai-IONIQ-9-debut
Hyundai IONIQ 9 teaser (Source: Hyundai)

Although prices and specs have yet to be revealed, the IONIQ 9 is expected to be similar in size to the Kia EV9. Also based on the E-GMP platform, the EV9 is 197.2″ long, 77.9″ wide, 70.1″ tall, with a wheelbase of 122″. That’s about the size of its Telluride.

However, with its flat-floor design, the EV9 provides more rear legroom (42″) than a Cadillac Escalade.

Kia-EV9-interior
2024 Kia EV9 GT-Line interior (Source: Kia)

Kia’s three-row EV9 starts at about $55,000, so IONIQ 9 prices are expected to start at about the same or slightly higher. More premium trims could cost upwards of $80,000.

The IONIQ 9 will be built at Hyundai’s massive new Metaplant America (HMGMA) alongside the updated 2025 IONIQ 5 model. The new 2025MY has more range, features, and an sleek new design. It even includes a Tesla NACS charging port, which the IONIQ 9 is also expected to feature.

Hyundai said all US-made EVs qualify for a $3,750 federal tax credit. However, once the battery portion of the plant opens, they are expected to be eligible for the full $7,500. Until then, Hyundai is passing the $7,500 on through leasing.

2025-Hyundai-IONIQ-5-prices
Hyundai’s new 2025 IONIQ 5 Limited with a Tesla NACS port (Source: Hyundai)

Last week, Hyundai announced that 2025 IONIQ 5 prices will start at $43,975 (including a $1,475 destination fee). The extended-range SE RWD trim, with a range of up to 318 miles, starts at $46,550.

Check back next week for all the details on the new IONIQ 9 SUV. And keep an eye out for more teasers leading up to its debut on Thursday, November 21, 2024.

With the new 2025 IONIQ 5 arriving at dealerships any day, Hyundai is offering clearance prices on 2024 models. You can use our link to find the best deals on Hyundai’s IONIQ 5 at a dealer near you.

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Buy now, pay later provider Klarna says it filed confidentially for U.S. IPO

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Buy now, pay later provider Klarna says it filed confidentially for U.S. IPO

Buy now, pay later firms like Klarna and Block’s Afterpay could be about to face tougher rules in the U.K.

Nikolas Kokovlis | Nurphoto | Getty Images

Klarna, which is known for its popular buy now, pay later business, announced Wednesday that it’s confidentially filed IPO documents with the SEC.

The Swedish payments company has yet to publicly file its IPO prospectus. The company said the offering would follow the SEC’s review process and is subject to market conditions.

Analysts recently valued Klarna, which was founded in 2005, in the $15 billion range. At its peak during the pandemic-led surge in fintech stocks and e-commerce, the company had a valuation of $46 billion in a funding round led by SoftBank’s Vision Fund 2.

But Klarna took an 85% haircut in its most recent primary fundraising round, in 2022, when the company raised money on a valuation of $6.7 billion.

In addition to SoftBank, Klarna’s roster of shareholders includes Sequoia Capital and London-based firm Atomico.

Klarna CEO Sebastian Siemiatkowski previously told CNBC in an interview that unfavorable rules in Europe on employee stock options could risk the company losing talent to U.S. tech giants such as Google, Apple and Meta.

Plans for an IPO have been in the works for some time. In a February interview with CNBC’s “Closing Bell,” Siemiatkowski said an IPO in 2024 was “not impossible.” Affirm, one of the company’s key competitors, went public in 2021 and is now valued at about $18 billion.

In August, Klarna said it swung to a profit in the first half of the year.

Klarna’s decision to go pursue a listing in the U.S. represents a major blow to European stock exchanges, which have been trying to encourage local tech companies to list at home.

The London Stock Exchange, for example, has made reforms to make the U.K. a more attractive market for tech companies to list, including the ability for founders to issue dual-class shares that enable entrepreneurs to maintain control over a company’s strategy and direction.

Siemiatkowski hadn’t previously committed to listing in one market over another, and London was among the markets he was considering for Klarna’s IPO.

However, in 2021 he said that the firm was more likely to list in the U.S. than the U.K., due in part to higher visibility.

WATCH: Block and Affirm slide on earnings

Block and Affirm slide on earnings

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