Electric

The cheapest electric cars in Australia for 2024

MG4

RACV

Posted April 16, 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 going electric 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 meaningful driving range, and plenty of driver comforts and technology, the new generation of budget-friendly EVs make a great choice for motorists that 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 EVs are sold in Australia?

Sales data released for the first quarter of 2024 shows over 25,000 electric vehicles have been sold so far this year in Australia. This represents more than 8 per cent of total vehicle sales, and a 46 per cent increase on EV sales for the same period in 2023.

The ongoing popularity of Tesla vehicles, in addition to new cheaper electric cars from BYD, GWM, and MG, have helped drive this sales 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 Tesla and BYD.

The GWM Ora is Australia's cheapest EV. Image: Ben Weinstein.
The MG ZS EV is the cheapest small electric SUV for sale in Australia.
Even the most affordable EVs have plenty of tech. Image. Shannon Morris.

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 manufacturers currently have the entry level market captured for small electric vehicles, and the cheapest of their EVs can now be purchased for less than $36,000 driveaway. Tesla's cheapest EV, the acclaimed Model 3 sedan, starts at over $60,000 on the road.

Don't expect cheaper electric cars to be lacking in style, unique EV features or technology, however - 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 and last year overtook Tesla for worldwide electric vehicle sales. BYD has aggressive expansion plans in Australia - expect to see around five new electric vehicles launched here by the end 2024, along with an expanded dealer network that is set to grow with over 70 new locations around the country.

What is MG Motor?

Famously purchased by Chinese-based SAIC Motor in 2005, MG is one of the world's most storied automotive brands. Re-introduced 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 the Ora electric vehicles, Haval petrol and plug-in hybrid SUVs, and the GWM Tank range of offroad SUVs. It will soon introduce the Cannon Ute to its line-up, which is set to be the country's first hybrid ute when it goes on sale mid-year.

 

BYD Dolphin exterior

The BYD Dolphin is a surprisingly spacious small car. Image: Toby Hagon.

What is the cheapest EV 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 $35,990 driveaway. The MG4 and MG ZS EV are next most affordable from $39,990, while BYD's most affordable offering, the BYD Dolphin Dynamic is $41,404.90 driveaway.

More: Electric vehicle rebates, discounts and incentives in Australia

What are the best prices for the MG EV range?

In March 2024, MG launched its most aggressive play in the EV market so far, announcing competitive driveaway pricing on its entire EV range, including its most powerful model, the performance-orientated MG4 XPOWER small hatch, which was on sale for $59,990 plus on-road costs and is now $59,990 driveaway.

  • MG4 51kWh Excite MY23 (350km range) - $39,990 
  • MG4 64kWh Excite MY23 (450km range) - $44,990 
  • MG4 64kWh Essence MY23 (435km range) - $46,990 
  • MG4 77kWh Essence MY23 (530km range) - $52,990 
  • MG4 XPOWER MY23 (400km range) -$59,990 
  • MG ZS EV Excite (320km range) - $39,990 
  • MG ZS EV Essence (320km range)  $42,990 
  • MG ZS EV Long Range (440km range) - $46,990 

What are the best prices for the GWM Ora EV range?

GWM matched MG's play in April 2024, with similarly competitive driveaway offers, citing favourable exchange rates and supply as reasons for the price reduction.

  • GWM Ora Standard Range (310km range) – $35,990 driveaway
  • GWM Ora Extended Range (420km range) –  $40,990 driveaway
  • GWM Ora Ultra (420km range) – From $43,990 driveaway
  • GWM Ora GT (400km range) – From $46,990 driveaway

What are the best prices for the BYD Dolphin EV range?

After just six months on sale, BYD has retained its strong launch pricing for the Dolphin. 

  • BYD Dolphin Dynamic (410km range) - $41,404.90 driveaway
  • BYD Dolphin Premium (490km range) - $47,656.90 driveaway
MG4 Excite charging

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 warranty on the vehicle.

GWM electric vehicle and battery warranty

GWM currently offers the best warranty at 8 years unlimited kilometres on the battery and 7 years unlimited kilometres on the vehicle.

MG electric vehicle and battery warranty

MG's warranty extends to 7 years unlimited kilometres on both the vehicle and the battery.

More: What to know about buying a used electric car

MG4 Excite charging

Charging an EV can be done at home or at a charging station. Image: Shannon Morris.

Who has the best capped price servicing deals?

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/80,000kms 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 a dealer, it will cost just $99 for the first five visits.

BYD's servicing costs are the same regardless of which of their EVs you choose. 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 $189 and $447 per service, depending on kilometres travelled.

More: How much solar do I need to charge an electric vehicle?

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.