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Electric
The cheapest electric cars in Australia for 2024
RACV
October 22, 2024
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.
If you're considering an electric vehicle for your next car, the arrival of cheaper models in Australia means you can now hit the road in an electric small hatch or mid-size SUV for a similar price as a top-of-the-range Toyota Corolla, Mazda 3 or Hyundai i30.
With a longer driving range and plenty of driver comforts and technology, the new generation of budget-friendly EVs make a great choice for motorists who spend most of their time in an urban environment, are seeking to downsize their vehicle to reduce running costs, or are looking for an electric car to leverage renewable energy from a home solar system.
How many electric cars are sold in Australia?
Sales data to the end of September 2024 shows that 70,000 electric cars have been sold so far this year in Australia. This represents 7.5 per cent of total new-vehicle sales, although demand has softened in recent months.
EV sales are still up 6.4 per cent year-to-date compared to the same period in 2023, although a year ago the growth rate was more than 200 per cent year-on-year!
The ongoing popularity of Tesla EVs, in addition to new cheaper electric cars from BYD, GWM and MG, have helped drive growth, as has the Federal Government's Electric Car Discount Policy, providing a fringe benefits tax exemption for EVs financed under a novated lease.
The top-selling brands for electric vehicles in Australia are currently Tesla, BYD and MG.
The GWM Ora is one of Australia's cheapest EVs.
The MG ZS EV is the cheapest small electric SUV for sale in Australia
Even the most affordable EVs have plenty of tech.
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The most affordable electric car brands in Australia
If you’re in the market for a brand-new, low-priced EV, then you’ll be looking at small cars and SUVs sourced from fast-growing Chinese brands that are expanding their dealer and service operations in Australia.
Three manufacturers are leading the way on affordable EVs in Australia, and they are BYD, GWM and MG. These three brands currently have the entry-level market captured for small electric vehicles, and in some cases the cheapest of their EVs can be purchased for less than $34,000 driveaway. Tesla's most affordable EV, the acclaimed Model 3 sedan, starts at close to $60,000 on the road.
Don't expect cheaper electric cars to be lacking in style, unique EV features or technology, either. There is plenty of value to be had as competition increases and driveaway deals are introduced.
Build quality and aftersales support have improved significantly for the latest generation of Chinese EVs, with these brands offering some of the best warranties on the market.
What is BYD Automotive?
BYD is the fastest-growing "new energy vehicle" company in the world (covering EVs and plug-in hybrid cars) and last year overtook Tesla for global electrified vehicle sales. BYD has aggressive expansion plans in Australia – the range has quickly broadened to five models (Atto 3, Dolphin, Seal, Sealion 6 and the new Shark 6 plug-in hybrid ute), and there are more coming.
What is MG Motor?
Famously purchased by Chinese-based SAIC Motor in 2005, MG is one of the world's most storied automotive brands. Reintroduced to Australia in 2016, MG was the seventh best-selling car brand in Australia last year and the MG ZS SUV was the fifth most popular passenger vehicle.
What is GWM?
GWM, or Great Wall Motors, was one of the first Chinese brands to arrive in Australia. Its portfolio of vehicles here include Ora electric cars, Haval petrol and plug-in hybrid SUVs, the Tank range of off-road SUVs and the Cannon Ute line-up.
2023 MG ZS EV electric car review
What is the cheapest electric car to buy in Australia?
When it comes to small EVs, prices have never been lower and choice has never been greater, with MG and GWM recently introducing comprehensive driveaway pricing across select EV ranges, significantly reducing the on-road price of vehicles by up to $10,000.
The cheapest EV for sale in Australia is the GWM Ora, which is currently available from $33,990 driveaway. BYD's most affordable offering, the BYD Dolphin Dynamic, starts at $39,332.45 driveaway, while the MG4 is next most affordable with a list price of $41,100 driveaway. That said, MG Australia is currently undercutting both major rivals with a $30,990 driveaway offer on the MG4.
MG is continuing to make an aggressive play in the EV market, offering competitive driveaway pricing on its entire EV range, including its most powerful model, the performance-oriented MG4 XPOWER small hatch, which is currently priced from $59,866 driveaway. You can take a further $8000 off that with MG's current retail offer.
The 2024 Model Year has brought minor price increases for the MG4, but frequent special deals are bringing significant savings. At the entry level, the price-leading MG4 51kWh Excite MY24 is currently available for $30,990 driveaway – more than $10,000 cheaper than the EV's list price.
The MG ZS EV small SUV is currently Australia’s cheapest electric SUV. It retails from $43,299 driveaway but is also subject to special deals, such as an $8000 factory bonus on selected models.
MG ZS EV Excite MY23 (320km range) - $43,299 driveaway
MG ZS EV Essence MY23 (320km range) - $45,383 driveaway
MG ZS EV Long Range MY23 (440km range) - $50,593 driveaway
The BYD Atto 3 is closely matched to the MG ZS EV among Australia's cheapest SUVs. Freshly updated for 2024, the Atto 3 medium SUV has received a variety of upgrades and a price cut into the bargain, now starting from $47,260.75 drive-away.
What are the best prices for the GWM Ora EV range?
GWM has responded to MG's aggressive pricing in the marketplace, applying heavy discounts to its GWM Ora compact hatch.
GWM Ora Standard Range (310km range) – $33,990 driveaway
GWM Ora Extended Range (420km range) – $34,990 driveaway
GWM Ora GT (400km range) – $41,990 driveaway
What are the best prices for the BYD Dolphin EV range?
BYD has retained its strong launch pricing for the BYD Dolphin hatch as it continues to make inroads into the Australian market.
BYD Dolphin Dynamic (410km range) - $39,332.45 driveaway
BYD Dolphin Premium (490km range) - $45,584.45 driveaway
What is Australia's cheapest electric ute?
There is only one full-electric dual-cab ute on sale in Australia today, and that's the LDV eT60, which has a manufacturer's recommended retail price of $92,990 plus on-road costs. As well as not being cheap, the eT60 is not anywhere near class-leading and will be replaced in 2025 by the LDV eTerron 9.
There is, however, a new plug-in hybrid electric vehicle (PHEV) option now available in the market – the 2025 BYD Shark 6, which is Australia's first PHEV ute. Priced from $57,900 plus on-road costs ($60,354.45 driveaway), the BYD Shark 6 impresses on many levels, as we found in our first drive review.
MG4 Excite is a budget-friendly RWD entrance to electric motoring. Image: Shannon Morris
Who offers the best electric vehicle warranty?
Battery longevity is one of the most common questions that prospective EV buyers have. How long will the battery last on an EV, and how long is the warranty? Battery replacement costs are reducing, but for piece of mind all manufacturers offer significant warranties on their vehicles and batteries.
BYD electric vehicle and battery warranty
BYD offers a limited-kilometre warranty on its vehicles – 8 years or 160,000km (whichever comes first) on the battery and 6 years or 150,000km coverage on the vehicle. Be aware that a number of key components, including the multimedia system and suspension (3 years/60,000km), have a reduced warranty period.
GWM electric vehicle and battery warranty
GWM offers a generous warranty of 8 years (with unlimited kilometres) on the EV battery and 7 years/unlimited kilometres on the vehicle.
MG electric vehicle and battery warranty
MG's warranty now extends to an impressive 10 years on both the vehicle and the battery, however the coverage is limited to 250,000km (not unlimited kilometres, as found with many other brands).
Charging an EV can be done at home or at a charging station. Image: Shannon Morris
Who has the best capped price servicing deals for electric vehicles?
While purchasing a brand-new EV may be more expensive up front compared to a petrol or diesel car, typically you will be visiting a service centre less often than you would with a conventional vehicle. This may help you save money on service and maintenance costs with an electric car over the ownership period.
MG, GWM and BYD offer capped price servicing to give an idea of basic maintenance costs but each schedule varies depending on vehicle.
The MG4 has a 24 month/40,000km service interval with basic service pricing of $296. Each alternate service includes additional items such as the driveline fluids so expect to pay $907 at the 48-month/80,000km mark (or $962 for the XPOWER) with service schedule alternating every two years until 14 years of service.
The MG ZS EV has the same intervals but costs alternate between $295 and $810.
GWM wants to see the Ora every 12 months/15,000km, and if you choose to service at an authorised GWM dealer, it will cost just $99 for the first five visits.
The BYD Dolphin capped-price servicing schedule lasts for the first 8 years or 160,000km and is valid through a dealer or the MyCar network. Costs vary between $165, $498 and $635 per service, depending on kilometres travelled.
What's the best EV on sale in Australia under $50,000?
The current pick of the four most affordable EVs available in Australia today is the MG4, with the Essence variant with 64kWh battery hitting the sweet spot for driveability, size, features and driving range. The interior of the MG4 presents as modern and minimalist, and it comes with a solid suite of safety features in Essence guide. Cornering balance in the MG4 is good, thanks to the low-set battery pack and sporty rear-wheel drive layout, making it an enjoyable EV to drive.
The BYD Dolphin delivers a comfortable driving experience that is less dynamic and fun than the MG4, interior execution that exceeds its price tag, and lots of storage space and passenger comfort courtesy of its generous proportions.
The GWM Ora might just be the most stylish of the more affordable EVs available to purchase, with a bold, funky exterior design, and an interesting and refined interior. The GMW Ora does do well in tight city and suburban streets thanks to its excellent 360-degree camera.
The MG ZS EV is the cheapest electric SUV available to buy in Australia. If your heart is set on the practicality of a medium SUV, it's the obvious budget-friendly choice. The MG ZS EV is not as feature-rich as the top-selling Tesla Model Y, nor as stylish as the popular BYD Atto 3, but it's spacious enough and easy to grasp for those new to electric motoring.
Overall, however, the superior driving characteristics of the MG4 hatch make it the best EV from MG if you don't need the extra space or ride height.
RACV's reviews of the cheapest EVs for sale in Australia:
The information provided is general advice only. Before making any decisions please consider your own circumstances and the Product Disclosure Statement and Target Market Determinations. For copies, visit racv.com.au. As distributor, RACV Insurance Services Pty Ltd AFS Licence No. 230039 receives commission for each policy sold or renewed. Product issued by Insurance Manufacturers of Australia Pty Ltd ABN 93 004 208 084 AFS Licence No. 227678.
