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February’s Best EV Deals: Are You Kidding Me With This Offer?! Fantastic deals exist in the electric car space if you know where to look. Zach GaleWriterManufacturerPhotographerMotorTrend StaffPhotographerFeb 13, 2026 When it comes to offering deals on their latest EV, clearly some automakers refuse to take no for an answer. Months after the $7,500 federal EV tax credit disappeared, the deals are not only still around—they’re bigger than we’ve seen in a while. What follows isn’t a list of every EV deal for February; instead, it’s a collection of offers on cars you might want to drive, and we’ve saved the biggest new deal for last. 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 deals from January. 2026 Chevrolet Equinox EV Deal: $6,500–$10,000 Off Part of General Motors’ emerging electric car strategy appears to be pricing everything right the first time. We’ve seen it with the Cadillac Lyriq, a midsize luxury SUV that undercuts competitors in price, and the same is true for the Chevrolet Equinox EV. The Equinox EV’s mid- to high-$30,000 base price is already reasonable, and in our experience the SUV is pretty good. It only placed fifth in a big comparison of electric SUVs, but part of that was the FWD handling limitations. With this February’s EV deal, you get cash back on top of reasonable MSRPs, so an AWD upgrade may just be within reach. 2026 Equinox EV deal: $6,500 to $8,750 off depending on trim. If you own a 2021 or newer non-GM product or a GM product that’s 2012 or newer, it’s up to $10,000. 2025 Polestar 3 Deal: $18,000 Off Plus 2.99 percent for 60 Months Times are tough for any automaker that might be compared to a Tesla Model Y, that ubiquitous and low-priced SUV. Perhaps that’s the case for the 2025 Polestar 3, which returns with last month’s amazing deal on a car that’s great fun to drive and fantastic to look at. Really, it’s just as interesting in person as it is in this photo gallery. We weren’t impressed by the controls or tech in the 2025 3, but Polestar is taking steps to improve that situation. Could the risk be worth the reward? That depends entirely on how important driving fun is to you. 2025 Polestar 3 deal: $18,000 off plus 2.99 percent for 60 months. 2025 Kia EV6 Deal: $5,000 Off Plus 0 percent for 72 Months Kia continues its sell-down of the 2025-model-year EV6, and this easily qualifies as one of the best EV deals of the month. On the 2025 EV6—which finished second in a large comparison of compact electric SUVs—Kia is offering 0 percent financing for 72 months plus $5,000, or up to $11,500 off on select trims. 2025 EV6 deal: $5,000 off plus 0 percent for 72 months, or up to $11,500 off. 2026 Hyundai Ioniq 5 Deal: $5,000 Off Plus 0 percent for 72 Months Long after the Ioniq 5 became our 2023 SUV of the Year, Hyundai dropped its prices by $7,600 to $9,800 for the 2026 model year. That almost gave it complete parity with other lower-priced entries like the Equinox EV higher on this list. So, imagine our surprise when on top of that baked-in discount, Hyundai is also offering either $10,000 off the top of the Ioniq 5 or 0 percent financing for 72 months with $5,000 off. That kind of aggressive offer on an electric car we really like easily makes this the best EV deal of the month as far as we’re concerned. The Electric Vehicle Market in 2026: A Comprehensive Overview The automotive landscape of 2026 is marked by a palpable shift, one where electric vehicles (EVs) have transitioned from being niche alternatives to mainstream contenders. This evolution is not merely about new models appearing on dealer lots; it represents a fundamental recalibration of the industry, driven by technological innovation, shifting consumer preferences, and a complex interplay of economic incentives and market dynamics. For those navigating this new terrain, whether as a first-time buyer or an experienced automotive enthusiast, understanding the current state of EV deals and market trends is paramount to making an informed decision. The Declining Influence of the Federal Tax Credit One of the most significant factors shaping the 2026 EV market has been the recalibration of federal incentives. As of 2026, the $7,500 federal EV tax credit, once a cornerstone of EV affordability, has seen its application evolve. While the credit remains available for certain qualifying vehicles, the stringent requirements regarding domestic manufacturing and battery component sourcing have narrowed the pool of eligible models. This has forced automakers to adapt, relying less on federal subsidies and more on direct market strategies to move inventory. This shift has paradoxically led to a more robust market for EV deals. With manufacturers unable to bank on the automatic savings of the federal credit, they have been compelled to offer compelling incentives directly to consumers. This ranges from substantial cash-back offers to low- or zero-percent financing, creating a buyers’ market that was previously unimaginable. Chevrolet’s Strategic Maneuvers: The Equinox EV Offensive General Motors, under its Chevrolet brand, has emerged as a particularly aggressive player in the 2026 EV market. The company’s strategy appears to be centered on volume and value, a departure from the premium-first approach of some luxury brands. The Chevrolet Equinox EV stands as a testament to this strategy. The Equinox EV’s base pricing, hovering in the mid- to high-$30,000 range, positions it as a direct competitor to established internal combustion engine (ICE) vehicles, rather than just other EVs. This aggressive pricing strategy is further amplified by the current EV deals available. For February 2026, Chevrolet is offering up to $10,000 off the Equinox EV, contingent upon specific trade-in or loyalty requirements. This effectively erodes the price premium that EVs have historically commanded over their gasoline counterparts. However, it is crucial for consumers to note that while the price point is attractive, the driving dynamics of the standard front-wheel-drive (FWD) models may not appeal to all buyers. The vehicle’s handling limitations in FWD configurations have been a point of contention in comparative reviews. Yet, the availability of all-wheel-drive (AWD) variants, made more accessible by the current incentives, could be the key to unlocking the Equinox EV’s full potential for many consumers. The Premium Segment’s Response: Polestar’s Bold Offerings While the mainstream market sees intense competition, the premium EV segment is not without its own dramatic shifts. Polestar, the Volvo-backed performance EV brand, is facing the challenge of the ubiquitous Tesla Model Y head-on. In 2026, Polestar has rolled out one of the most aggressive incentives in the luxury EV space: $18,000 off the 2025 Polestar 3, coupled with a remarkably low 2.99% APR for 60 months. This offer is particularly noteworthy given the Polestar 3’s positioning as a high-performance luxury SUV. The vehicle’s design and driving experience have been widely praised, often standing out in crowded parking lots. However, the brand has faced criticism regarding its infotainment system and interior controls, which some reviewers have found to be less intuitive than those of its competitors. The massive discount and favorable financing terms suggest that Polestar is willing to absorb significant costs to capture market share. For consumers who prioritize driving engagement and aesthetic appeal, and who may have been previously deterred by the Polestar 3’s sticker price, this February 2026 EV deal presents a compelling value proposition. It underscores a broader trend in the premium segment: as competition intensifies, luxury automakers are becoming more flexible with pricing to secure early adopters. The Korean Contenders: Kia and Hyundai’s Strategic Pricing The South Korean automotive giants, Kia and Hyundai, have solidified their positions as formidable players in the global EV market. In 2026, both brands are leveraging their expertise in battery electric technology to offer substantial incentives on their popular models, the Kia EV6 and the Hyundai Ioniq 5. Kia’s approach involves a strategic sell-down of the 2025 model-year EV6. This tactic is not uncommon in the automotive industry, but the scale of the incentives in 2026 is particularly notable. Kia is offering 0% financing