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Buyers will have their choice of new EVs this year. Keep reading for three that might be worth the wait.
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This year might be a good time to buy an electric vehicle if you’ve been sitting on the fence about it. The government has made it easier to claim a federal tax credit — up to $7,500 — for EVs in 2024 by receiving the credit immediately when you purchase at a dealership, as opposed to receiving it when you file your taxes.
And if free money isn’t an enticing enough reason to buy an EV, there are also lots of new models hitting the showrooms this year, making it all the more tempting. Here are three stunners you don’t want to miss.
1. Acura ZDX
Price: $60,000 (estimated)
Acura is jumping into the EV waters this year with an entirely new model called the ZDX. Car enthusiasts may be scratching their heads since Acura is resurrecting the name it used for a short-lived hatchback between 2010 and 2013.
Of course, the old model wasn’t an EV, and Acura surely hopes the latest ZDX is far more popular than its predecessor. All ZDX models will have a 102-kWh battery on board, with the base A-Spec version using it to power a single motor with 340 horses. The upgraded Type S boosts that power to an impressive 500 horsepower.
The ZDX will have a range of about 325 miles for the single motor and about 288 miles for the high-performance Type S. And thanks to a DC fast-charging system, the ZDX can recharge to a range of about 81 miles in just 10 minutes. Look for the ZDX early this year.
2. Cadillac Escalade IQ
Price: $130,000 (estimated)
The electrified version of the Cadillac Escalade shares one significant characteristic with its gas-powered counterpart: It’s out of reach for most buyers. Cadillac is likely more than OK with this fact, considering the company is looking to bring prestige back to its brand.
As you might expect, a mammoth EV needs a similarly-sized motor to get it moving, which is why Cadillac taps dual motors generating up to 750 horsepower and 785 lb.-ft. of torque. Cadillac estimates the battery range will be an impressive 450 miles.
The premium interior won’t disappoint with optional executive rear seating, massaging seats, hands-free driver assistance, and front screens totaling 55 inches stretching across the entire dashboard. Cadillac says the all-electric Escalade IQ will be available in late 2024.
3. Volvo EX30
Price: $34,950
While some automakers are experimenting with how large their EVs can be, Volvo moved in a decidedly opposite direction with EX30. The all-electric crossover is one of the company’s smallest vehicles, but don’t assume Volvo skimped on the details.
The twin motor version of the EX30 packs 422 horsepower into the little SUV’s frame, propelling it from 0 to 60 mph in just 3.5 seconds. That’s far more than most people will need to haul groceries back to the apartment, but it’s nice to know you have it if you need it. The base model’s single motor comes with a still-respectable 268 horsepower.
The EX30 will go an estimated 275 miles on a charge, can go from 10% to 80% battery life in about 26 minutes at a DC fast-charging station, and comes with a 12.3-inch center console display. Deliveries are expected to start this summer.
One thing to consider before buying an EV
While you might be able to tap the federal tax credit to lower the price tag of an EV this year, the one thing that likely won’t be cheaper is your car insurance.
Insurance prices have spiked over the past few years, and car insurance has seen some of the biggest increases, with premiums up 19% over the past year alone.
And electric vehicle insurance is some of the priciest. The higher price tags of most EVs, along with expensive batteries and a lack of trained EV technicians, means that it generally costs more to repair an electric vehicle than gas-powered ones.
So, if you choose to go electric this year, make sure to compare quotes from several car insurance companies. And if you end up buying the Escalade IQ, maybe we can carpool. I usually work from home, but I’d trade my home office for that premium executive rear seating any day.
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