Drive Car of the Year 2024 – Best Luxury Electric Vehicle Under $150K FINALISTS

Over the next few weeks, we’ll be explaining all the categories and contenders for Drive Car of the Year 2024. Testing is currently underway, with the final winners to be announced early next year.

*Updated 2 pm, December 16, 2023

To take out the Best Luxury Electric Vehicle Under $150,000 gong, the winner must offer a blend of unquestionable luxury, cutting-edge technology and class-leading performance from an EV. 

Of course, there are plenty of choices for those with more than $150,000 to spend, choices where performance enters the stratosphere while redefining what it means to be luxurious. But this category aims to keep things on a relatively even keel, hence the $150,000 threshold. Surprisingly, the judges deliberated long and hard over this category, before whittling the finalists down to the three vehicles that will duke it out for top honours.

The BMW i4 is far and away the most affordable of our three finalists, with an entry price of $85,900 for the i4 eDrive 35. Think of the i4 as a blend of regular 3 Series sedan and 4 Series coupe, but with a battery and electric motors. 

With three models all coming in under $150,000, buyers have a choice of rear-wheel drive or all-wheel drive options, with the range-topping M50 xDrive providing the type of performance we’ve come to expect from Bimmers wearing the haloed ‘M’ badge. 

It’s priced at $133,900, well under the cut-off for this category. Add in BMW’s uncompromising blend of premium appointments and all the ingredients are in place. 

Mercedes-Benz should be commended for reaching price parity with its EVs when compared against its regular range of petrol- and diesel-powered vehicles. Case in point, the second of our three finalists, the Mercedes-Benz EQE SUV which starts at $134,900 for the EQE300 model. 

To give that some context, a comparable combustion-engined Mercedes-Benz GLE300d starts from $144,900. Also in the mix is the EQE350 which at $144,900 sits well under the cutoff for this category. It too is priced well under a comparable GLE model.

Mercedes-Benz has certainly knocked it out of the park with its in-cabin technology while the brand’s known levels of luxurious appointments remain firmly in place. And while the judges also considered the merits of the EQE range of sedans, they felt the undoubted popularity of SUVs of all shapes and sizes, gave the high-rider the edge in the final reckoning. 

The BMW iX large SUV makes a statement, with an imposing road presence that’s hard to argue against. Brimming with plenty of luxury appointments, the BMW iX range gets underway at $130,900 for the xDrive 40. 

Despite being an ‘entry-level’ model, the iX xDrive 40 is crammed with premium features and delivers a claimed 420km of range from its 77kWh battery. And the iX xDrive 40 Sport, with the same powertrain and range as the iX xDrive 40, ups the ante in terms of lavish appointments and adds bigger wheels as well as a redesigned bumper amongst a host of other styling cues. It’s priced at $136,900, making it eligible for top honours in this category. 

The below was first published on November 22, 2023

This is the category where the cream of the battery electric crop shines: Drive Car of the Year Best Luxury Electric Vehicle Under $150K.

Good value BEVs that are still among the best for luxury, and class and offer the latest safety and technology are all assessed here. Only one can be named the Best in class.

This is effectively a carry-over category but has now introduced a $150,000 price cap. This means that the BMW i7, last year’s winner, is unfortunately knocked out by its $306,000 starting price.

This still leaves us with some appealing options to challenge for the title this year. 

There is the BMW i4, an engaging and practical five-door hatch with outstanding dynamics, comfort and impressive performance numbers — perhaps challenged here most by another BMW – the BMW iX, which has an imposing presence, exceptional driving range, space and quirky design language everywhere you look.

Then there’s the Lexus RZ, which sticks close to the Lexus luxury ethos and allows rear occupants a supremely comfortable space with generous legroom.

The Mercedes-Benz EQE in 300 or 350 form (sadly the gut-wrenchingly quick EQE AMG 53 is knocked out on price) serves up a tasty mix of huge driving range, excellent, absorbent ride and undeniably spacious cabin.

Let’s not forget the Ford Mustang Mach E, the vehicle that redefines what Mustang means. This is an SUV that has a distinctive design inside and out, epic performance in GT form and supremely comfortable suspension.

Drive’s rules require that, for a car to be eligible, it must:

The winner of the 2024 Drive Car of the Year Best Luxury Electric Vehicle Under $150K will be announced in February 2024.

Before then, we will announce the finalists, all of whom which deliver on providing the best of tomorrow today. One thing is certain: this category promises to be one of the toughest confronting our 11 experienced judges.