Thinking about an electric vehicle (EV) for your next car? Here are the cheapest and most affordable electric cars and SUVs you can buy in Australia right now.
Australia's best electric cars and SUVs of 2024
There are more new and affordable electric cars to consider in Australia than ever before. These are the best electric vehicles to buy across key new car segments.
Popular segments of the new car market in Australia now provide car buyers with plenty of electric vehicles to compare. If you want an affordable electric small hatch, mid-size SUV or sedan, or a luxury car, then there is already substantial choice.
Electric cars make a great choice for motorists that spend most of their time driving around busy urban and suburban areas, wanting to downsize their car to reduce operating and maintenance costs, or are looking for an electric car to maximise renewable energy from a home solar system.
EV incentives are available to help make electric car ownership a reality for more Australians as they become more affordable. When it comes to financing an EV, buyers can choose between a car loan and a novated car lease which can potentially save thousands in Fringe Benefits Tax.
Australia’s best electric cars of 2024
The Tesla Model 3 is the best value electric vehicle in Australia
Best value electric car: Tesla Model 3
The Tesla Model 3 is an outstanding medium-sized electric passenger car that has improved in quality and dropped in price at the same time. That makes it almost impossible to ignore as the best value electric car to buy. Underlining how sharp Tesla's is pricing its vehicles in Australia these days, the Model 3’s close relation, the Tesla Model Y mid-size SUV, is also its closest rival when it comes to value.
The cheapest Tesla Model 3 Rear Wheel Drive starts just under $55,000 before on-road costs while the Dual Motor All Wheel Drive adds another $10,000. This pricing could change of course, as it often does for Tesla.
What the Rear Wheel Drive Model 3 delivers is a decent driving range of around 460km in the real world and fast recharging, backed up by Tesla’s Australia-wide network of superchargers.
The Tesla Model 3 is also commodious inside, pleasant to drive and ride in and fitted with an impressive level of safety and tech – although there’s no Apple CarPlay or Android Auto connection. Some things like the huge infotainment screen through which most functions including gearchanges are conducted, indicator buttons on the steering wheel rather than a stalk and the lack of a speedo in front of the driver could be off-putting, and push buyers to consider a BYD Seal.
But such deletions are also part of the reason the Tesla Model 3 is as affordable as it is.
More: Tesla Model 3 vs BYD Seal
Also consider this electric vehicle: GWM Ora
The GWM Ora is substantially cheaper than the BYD Dolphin and MG4, and therefore the most accessible to car buyers under $40,000, even if it is the least convincing of the three.
While the GWM Ora has short driving range and smaller boot than its rivals, as a city and suburban runabout its low price combined with low running costs makes it a new electric car that's affordable for many.
More: Australia's cheapest electric cars
The MG4 is the best EV to buy in Australia today in the competitive small car segment
Best small electric car: MG MG4
Available in a variety of battery sizes, ranges and performance, the MG MG4 is the most convincing battery electric vehicle to yet come out of China. With pricing starting below $40,000 and stretching to $60,000, there are a variety of trim and equipment levels on offer as well.
A hatchback rather than an SUV, the MG4 is simple yet spacious inside, able to fit four passengers and has a reasonable amount of boot space too. The MG4 drives with small car’s manoeuvrable confidence and is undoubtedly a great pick for the cut and thrust of city and suburban traffic.
The MG4 is not as refined as some other EVs such as the similarly sized Cupra Born or Volvo’s range of electric SUVs, but its price advantage compensates there.
Like the Tesla Model 3, the MG4 tries to centre as many controls as possible through the touchscreen, which makes some simple tasks like air-con and audio adjustments more onerous.
Significant MG4 annoyances are poorly calibrated lane keeping and overzealous speed alerts that snatch at the steering wheel and chime away relentlessly.
Also consider this electric vehicle: BYD Atto 3
The BYD Atto 3 is another EV with a recently reduced price. It also has cutting edge battery tech that delivers a solid range.
Thanks to efficient use of its small footprint, the BYD Atto 3 can capably fit four adults and a reasonable amount of luggage. But its comfort-oriented drive experience does its best work in urban areas on shorter hauls.
There’s lots of interesting touches with the Atto 3: a marine-themed interior design, door pocket ‘guitar strings’ and even a rotating touchscreen.
More: What to know about installing an electric vehicle charger
The Tesla Model Y is the best-selling electric car in Australia currently
Best medium electric car: Tesla Model Y
Australia’s top-selling electric vehicle, the Tesla Model Y, isn’t perfect but it’s a good enough vehicle across enough categories to make it unbeatable in the mid-size segment.
Right now, the Model Y offers many of the same attributes as the Tesla Model 3: a sharpening price, an impressive level of battery technology - both charging speed and range - and the comprehensive Tesla supercharging network in Australia.
The Tesla Model Y Rear Wheel Drive is the price leader while the All Wheel Drive tops it for performance, but the pricing gap is significant.
Both Tesla Model Y variants offer acres of interior room to fit a family of four – five at a squeeze – and plenty of luggage and shopping for families. What the Tesla Model Y doesn’t have is a third row seat for the kids.
It’s also not an especially convincing car to drive with a ride that’s a bit rough and tumble, although Tesla has made improvements over time.
And like the Tesla Model 3, if you’re not into minimalist digital-based instrumentation you’re going to struggle with the Model Y.
More: Tesla Model Y vs BYD Atto 3 specs comparison
Also consider this electric vehicle: Kia EV6
The svelte Kia EV6 has few weaknesses. The excellence with the Kia EV6 starts at its very core building blocks - the E-GMP platform and 800V electrical system - and progresses from there.
From the way its powertrain performs, to the range its battery options offer, to the way it drives and rides and the comfortable way it spaciously accommodates its passengers, the Kia EV6 feels and looks like the Korean brand’s best and brightest designers, engineers and product planners have been involved.
But the Kia EV6 is not an affordable choice, starting close to $80,000 by the time it gets on the road. The incoming and substantially cheaper Kia EV5 will soon provide a more affordable option.
The Kia EV9 is unmissable on the road thanks to its angular styling
Best large electric car: Kia EV9
One of very few three-row electric SUVs sold in Australia, the Kia EV9 is a fabulous EV that’s deservedly picked up a range of best car awards in Australia and overseas. But the Kia EV9 is also very expensive, with only one model priced below $100,000 before on-road costs.
The striking Kia EV9 comes with both single and dual motor powertrains paired with sizable battery packs that deliver useful range, despite this being a heavyweight package.
E-motor performance ranges from the strong to the sizzling despite the size and aforementioned weight of the Kia EV9. The powertrain pairs with locally retuned ride and handling package to deliver impressive country crossing capability.
Around town, the Kia EV9's sheer bulk works against it but there are cameras and sensors to help navigate tighter areas.
Inside a combination of high-tech and comfort equipment cements the Kia EV9’s luxury claims. More prosaically the huge amount of space delivers adult-friendly space in all three rows.
Seats in the Kia EV9 can also be folded down in a variety of combinations to deliver a huge and flexible space for carrying loads.
Also consider this electric vehicle: Mercedes-Benz EQB
The Mercedes-Benz EQB offers seven seats in a fully electric package under the luxury car tax threshold. The EQB's seats are useable, the drive is smooth and comfy and this is an easy car to live with.
Where the Mercedes-Benz does fall short compared to competitors is on driving range, with only around 400km on offer.
The Porsche Taycan delivers luxury and performance in equal measure
Best luxury electric car: Porsche Taycan
German luxury makers have embraced electric vehicles, rolled out plenty of models and targeted the top end of the car market. The Porsche Taycan certainly ticks the box on dollars, with a starting price from around $180,000 heading north of $330,000 for the top of the range versions with stunning performance.
And there is no hyperbole there. The Porsche Taycan Turbo (there is no actual turbocharger) accelerates with other-worldly, silent intensity.
So is the rest of the drive experience. The Taycan handles, grips and steers with Porsche authority, only lacking the exhaust note of a flat six engine to make it the complete experience for enthusiasts. The Porsche Taycan is extremely versatile - it can be a corner carver, grand tourer or quiet limousine depending on your preference.
Inside the Porsche Taycan the emphasis is more on high-tech than high luxury with various screens spread across the dashboard. If you want that bit more practicality you could always opt for the Taycan’s shooting brake spin-off, the Cross Turismo. It has a bit more rear seat and boot space, while retaining the blistering performance.
Impressively, the Porsche Taycan has been on sale for a couple of years now and is still the class of an ever-improving field in this money-is-no-object electric car segment.
Also consider this electric vehicle: BMW i4 eDrive35
Rather than discussing a model range, this recommendation focusses specifically on one car - the luxury car tax-busting BMW i4 eDrive35.
Like the iX3 mid-size SUV, positioning a BMW i4 electric hatchback below the luxury car tax and making it eligible for fringe benefit tax rebates has energised sales to the point it is among the brand's most popular cars.
The i4's not perfect. For the range it delivers it is still over-priced, but the refinement and driving satisfaction is worthy of the BMW badge.
More: The differences between novated car leases and car loans
The Hyundai Ioniq 5 N brings performance car drama to electric cars
Best performance electric car: Hyundai Ioniq 5 N
Right now, performance cars is one of the most fascinating areas in electric vehicle development. That’s because injecting driving character where so much of the powertrain – e-motor, batteries – is homogenous and indistinguishable from one vehicle to another is a major challenge.
The Hyundai Ioniq 5 N is as close as an electric vehicle gets to the old-school feeling of V8 sedans and abrupt gear changes. Huge power and dual-motor all-wheel-drive grip deliver the Hyundai Ioniq 5 N’s momentous acceleration in a straight line or around corners at a race track.
The Hyundai Ioniq 5 N adds fake engine noises and gear changes that mimic a performance internal combustion engine. The former are a bit naff, the latter are huge fun, yet neither is relevant to the core driving capability of the Hyundai Ioniq 5. But they do add character and atmosphere to the Ioniq 5, and that’s important for some car buyers in this segment.
Happily, the Hyundai Ioniq 5 N translates from race track to public road better than you might think for a performance car thanks to a supple ride over rough surfaces.
And of course the Ioniq 5's e-motors are entirely civilised and happy to potter about your local shopping centre car park, or busy urban streets and suburban roads.
The big downer with the Hyundai Ioniq 5 N is the price. At $111,000, it’s getting up there.
Also consider this electric vehicle: Tesla Model 3 Performance
As part of its value push, Tesla upped the performance and dropped the piece of the flagship Model 3, making it pretty irresistible value. But the Hyundai Ioniq 5 N is still the better and more connected drive.
Also we should mention the Kia EV6 GT, which is a more relaxed touring car than the Ioniq 5, but still pretty memorable.
The MG MG4 XPower also deserves consideration. The XPower is a lot cheaper and less exciting than the other three, but the closest thing there is in the EV world to a traditional hot hatch.
The LDV eDeliver7 has been designed specifically as an EV rather than adapted from a diesel van
Best commercial EV: LDV eDeliver7
The commercial segment is an electric category with massive potential but at an early stage of development, which means choices are limited and quite expensive compared to the usual diesel offerings such as 4x4 utes. Only the LDV eT60 is currently on offer in Australia for electric utes and it is not anywhere near class leading.
When it comes to electric vans there is wider choice, although much of it is more expensive than equivalent diesel models.
However, LDV is pretty competitive with its new eDeliver7 in the important mid-size (2.5t-3.5t) segment. Designed from the ground-up to be an EV rather than adapted from a diesel van, a lot of its appeal lies in pricing that starts from a little above $60,000 before on-road costs.
There’s also choice offered here with four variants and two battery options.
Good news is there’s more van competition on the way from Ford, Peugeot and Volkswagen among others, so the competitive picture for commercial electric cars is constantly evolving.
More: How much solar do you need to power an electric car?
Also consider this electric van: Peugeot e-Partner
The argument goes that the shorter the delivery runs and the more urban the route the better suited electric vans are to the job.
With a 245km range and a modest 3.9 metre cubed capacity, the compact Peugeot e-Partner fits that bill pretty much perfectly. While listed pricing isn’t cheap for this EV, the French manufacturer doesn’t mind sharpening pricing, so you might find a good deal.
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