Canada’s Cheapest EVs This November — and the $5,000 Rebate That Shrinks on January 1

With fewer than two months left in 2026, Canadian EV shoppers have a short window to take advantage of the full $5,000 federal EVAP rebate before it steps down to $4,000 on January 1. Eight new EVs land under $41,000 this November once the rebate and current manufacturer discounts are counted.

The value leader is the 2026 Fiat 500e at $29,865 after the rebate, thanks to an $8,000 manufacturer discount on its $39,995 list price. The 2027 Nissan Leaf S is the new low-MSRP entry in Canada at $34,998, with a 53 kWh battery delivering an estimated 341 km of range, for $33,541 after the rebate. The 2027 Kia EV3 lands at $35,022 and the 2026 Subaru Uncharted at $36,406.

The rest of the under-$41,000 list shows how much discounts matter: the 2027 Kia EV4 at $37,022, the 2025 VinFast VF 8 Eco at $38,310 after a $14,000 discount, the 2027 Chevrolet Bolt at $39,019, the 2026 Chevrolet Equinox EV at $39,218 after a $6,000 discount, the 2026 Kia Niro EV at $39,472 and the 2026 Hyundai Kona Electric at $40,519.

Prices are based on current manufacturer advertised prices and the federal rebate, calculated at the Ontario 13% HST-equivalent before-tax value of $4,425, and they vary by province and dealer. The message for shoppers is the same either way: the $1,000 difference between the 2026 and 2027 rebate is real money, and it disappears on January 1.