A slew of long-range electric cars are expected to hit the market by 2020.
Several of these electric vehicles will be made by luxury automakers and will most likely cost upward of $US50,000.
But several automakers are working on EVs with a range of more than 200 miles that are likely to have a friendlier price tag.
Here’s a breakdown of the long-range electric cars coming to market in the next few years that people would be able to afford.
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The Model 3, which Tesla began delivering on July 28, starts at $US35,000. But consumers will have to pay a couple thousand extra if they want features of Autopilot, Tesla's driver-assist technology, activated.
The base version of the Model 3 has a range of 220 miles per charge and is spacious enough for five people.
Tesla began taking preorders for the vehicle in April 2016. The company said it was averaging about 1,800 orders a day since the company's handover event in July.
While the company plans to deliver some of the preorders by the end of 2017, the bulk will most likely be delivered in 2018. So if you want your Model 3 before 2020, you should place your order now.
Musk said during the company's first-quarter earnings call that the Model Y would arrive by late 2019 or 2020.
Musk has kept mum on details about the upcoming vehicle, but he has said it would share components of the Model 3.
Tesla has not shared a price range, but given that it already sells a luxury SUV, the Model X, and that it wants to target the mass market, the upcoming SUV most likely will have a more competitive price tag.
And because General Motors sells its all-electric SUV crossover, the Chevy Bolt, for $US37,500 before tax incentives, it would make sense for Tesla to price the Model Y in the same ballpark.
However, there's always the possibility that Tesla could make the Model Y a cheaper version of the Model X -- similar to the BMW X3, which starts at about $US40,000.
In April, Volvo said it would build its first all-electric car in China and export it around the world.
The vehicle is expected to have a 100-kilowatt-hour battery and a range of 250 miles per charge. But perhaps the best thing will be its price tag.
In March, Lex Kerssemakers, the CEO of Volvo Cars of North America, said he was pushing for its first electric car to price between $US35,000 and $US40,000, according to a report from Automotive News.
Volkswagen is expected to launch an electric crossover in 2020 with a range of about 300 miles per charge.
The German automaker plans to launch its Volkswagen ID in 2020.
The crossover is expected to have a price tag of $US30,000 to $US35,000 and a range of about 250 to 300 miles per charge.
The vehicle will have a top speed of 99 mph and be able to accelerate from zero to 62 mph in less than eight seconds, Volkswagen says.
While Ford hasn't revealed how much the vehicle will cost, Raj Nair, the company's executive vice president and president of North America, told Business Insider it would be priced for the masses.
'Our plan is for it to be an affordable vehicle, a mainstream model,' Nair said. 'To get electrification volumes where we would all like them to be, we have to make sure we make the affordability targets, or otherwise they are going to stay as a niche item or a pure luxury item.'
Ford has said the vehicle will have a range of at least 300 miles per charge.
The 2018 Nissan Leaf, which the company plans to reveal in September, is expected to go on sale later this year and have a range of more than 200 miles per charge.
The 2017 Nissan Leaf costs about $US30,700, but since the upcoming Leaf will have a greater range, it will most likely cost a bit more.
The Bolt has a range of 238 miles per charge, a top speed of 91 mph, and a cost of about $US37,500 before a $US7,500 federal tax credit.
General Motors began production of its vehicle last year, beating Tesla to the punch to create the first mass-market electric vehicle.