Audi debuts its cheapest electric car with a starting price of $45,000

Audi revealed its cheapest electric model, the Q4 E-Tron electric SUV, with a starting price of $45,000, expected to go on sale by the end of this year.

With federal electric vehicle tax credits, the price should go down to $37,500, making it slightly less than a Tesla Model 3 sedan and much cheaper than a Tesla Model Y SUV.

Audi isn't revealing the prices for its new SUV's more expensive versions.

The entry-level Q4 E-Tron will have a rear-wheel-drive, be able to go about 250 miles on a charge, and provide a maximum output of 201 horsepower.

More expensive all-wheel-drive versions will have electric motors in the front and back and be able to produce up to 295 horsepower.

The Q4 E-Tron will be available in a regular crossover SUV and the Sportback version.

The Q4 E-Tron is slightly larger than the Audi Q3, the smallest SUV that Audi offers in the US.

The Q4 E-Tron shares much of its engineering with the Volkswagen ID.4 electric SUV.