May’s Best EV Deals on SUVs and Cars Priced From Below $40K to Over $100,000

These electric car discounts range from sensible electric family SUVs to an electric luxury sedan.

Zach GaleWriterMotorTrend StaffPhotographerMay 07, 2026

The best EV deals aren’t always where you think they are. For our May 2026 list of the best deals on electric cars you might want to drive, a couple of automakers have caught our eye as they look to capture a bigger piece of the market.

We’re past the point of electric cars catering exclusively to early adopters interested in new tech. Now EVs serve those tech-first buyers as well as your average shoppers who simply want a car that’s good, quiet, and convenient.

The incentives offered by BMW, Cadillac, Hyundai, and Kia for May won’t be for everyone, but they may entice more buyers to try something new. Would these EV deals get your attention?

A quick note on these deals: They’re correct as of publishing, but availability may vary near you. Check back next month for more EV deals.

See the best EV deals from April 2026

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2026 Hyundai Ioniq 5 Deal: $3,000 Off Plus 0% for 72 Months

The 2026 Ioniq 5 is back on our list of the best EV deals because we like this former SUV of the Year winner and the price is as good as ever for the compact electric SUV. Let us put this another way: With this EV deal, the 2026 Ioniq 5 is easily a match on price with the 2026 Tucson Hybrid when comparing similar trims. EVs aren’t for everyone, but we still believe they offer compelling advantages for those who are fortunate enough to have home charging.

2026 Ioniq 5 deal: $3,000 off plus 0% for 72 months

Read Our Experts’ Full Review of the 2026 Hyundai Ioniq 5

2025 Kia EV6 Deal: Up to $5,000 Off Plus 0% for 72 Months

If you’ve read our best EV deals stories before, you know the EV6 often makes an appearance. What’s different this month isn’t just the deal on the 2025 models, but the fact that Kia has finally announced details on the mostly carryover 2026 model. Before the smaller EV3 electric SUV arrives, Kia has slashed prices on the 2026 EV6 so the SUV now starts just below $40,000.

The EV6 remains a solid choice regardless of model year. In our experience, it’s a well-rounded option that can work for those who appreciate its wagonlike design. As 2026 EV6s start to trickle into dealerships, look for deals on both the 2025 and 2026 models.

2025 EV6 deal: Up to $5,000 off plus 0 percent for 72 months on most trims

Read Our Experts’ Full Review of the 2025 Kia EV6

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2026 Cadillac Optiq Deal: $2,000 Off Plus 0.9% for 72 Months

With the XT4 gone, the Optiq is now one of Cadillac’s least expensive SUVs, priced at around $54,000 to start, along with the gas-powered XT5. The Optiq offers a suitably luxurious experience, although we think it’s best if you skip the hopped up Optiq V model, as other trims represent the compact electric luxury SUV better in our opinion at a better price. And this month, the APR is down to 0.9 percent for the Optiq, versus 2.9 percent in previous months.

2026 Optiq deal: $2,000 off (if you own certain non-GM vehicles that are 2012 or newer) plus 0.9 percent for 72 months

Read Our Experts’ Full Review of the 2026 Cadillac Optiq

2026 BMW i7 Deal: $7,500 Off Plus 0.9% for 60 Months

You’d think an executive luxury sedan that starts above $100,000 wouldn’t qualify for our curated list of the best EV deals for May 2026, but this BMW is good. The 2026 i7, the electric 7 Series, is big but doesn’t drive big. In a recent review, we also called its interior stunning and noted its available rear-seat experience is world-class. BMW’s flagship electric luxury sedan isn’t perfect, but we think BMW has built something special here. Is the updated 2027 model even better? Get the details here.

2026 i7 deal: $7,500 off plus 0.9% for 60 months

Read Our Experts’ Full Review of the 2026 BMW i7

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Zach Gale

I’ve come a long way since I drove sugar packets across restaurant tables as a kid, pretending they were cars. With more than 17 years of experience, I'm passionate about demystifying the new car market for shoppers and enthusiasts. My expertise comes from thoughtfully reviewing countless vehicles across the automotive spectrum. The greatest thrill I get isn’t just from behind the wheel of an exotic car but from a well-executed car that’s affordable, entertaining, and well-made. Since about the time I learned to walk I’ve been fascinated by cars of all shapes and sizes, but it wasn’t until I struggled through a summer high school class at the Pasadena Art Center College of Design that I realized writing was my ticket into the automotive industry. My drive to high school was magical, taking me through a beautiful and winding canyon; I've never lost the excited feeling some 16-year-olds get when they first set out on the road. The automotive industry, singing, and writing have always been my passions, but because no one seeks a writer who sings about the automotive industry, I honed my writing and editing skills at UC Irvine (zot zot!), serving as an editor of the official campus newspaper and writing stories as a literary journalism major. At USC, I developed a much greater appreciation for broadcast journalists and became acquainted with copy editing rules such as why the Oxford comma is so important. Though my beloved 1996 Audi A4 didn’t survive my college years, my career with MotorTrend did. I started at the company in 2007 building articles for motorcycle magazines, soon transitioning to writing news posts for MotorTrend’s budding online department. I spent some valuable time in the copy editing department, as an online news director, and as a senior production editor. Today, MotorTrend keeps me busy as the Buyer's Guide Director. Not everyone has a career centered on one of their passions, and I remind myself all the time how lucky I am.