The most affordable electric cars in Australia

It’s no surprise that affordability is top of mind when it comes to buying a vehicle. Aside from a home, they are one of the more expensive items a person will buy in a lifetime.

Although electric vehicles are cheaper to own, they still have a higher sticker price than internal combustion engine (ICE) vehicles. And, it's common for people to be concerned about how far they can drive an EV on a single charge. 

Because of this, the price and driving range of an electric car are important factors for people when deciding to go electric. Some consider their budget, while others consider value for money.

We have created a comparison to determine which electric cars offer the best value for money, expressed as price/km where the price is the MSRP (manufacturer's suggested retail price), and the kilometre portion is based on WLTP driving range. 

The good news is in 2024 that there are now five electric vehicles in Australia priced from below $50,000. In fact, some are now well under $40,000. And, they can drive further on a single charge than you may think.

As of April 2024, the funky GWM Ora hatchback is hands down the cheapest electric car in Australia. Then there is also MG’s MG4 (Excite and Essence) and BYD's Dolphin.

In addition to this are the 2022 MG ZS EV (which is now also available in a long-range format with 72kWh battery and 440km WLTP range) and the BYD Atto 3.

We take a look at the cheapest electric vehicles currently on the market in 2023 - and which one will give you the most driving range for the dollar.

GWM Ora

Produced by Great Wall Motors (GWM) and called the Good Cat or Funky Cat in overseas markets, the GWM Ora is one of the most recent additions to the Australian EV market.

In April 2024, GWM dropped the price of the entry-level Ora electric hatchback from $43,990 before on-road costs ($45,550 driveaway in NSW) down to $35,990 driveaway, introducing standard nationwide pricing for all variants. 

This makes the GWM Ora the most affordable EV currently on the Australian car market. The entry-level Standard Range model packs a 48kWh battery under the floor it has a WLTP range of up to 310km and its almost silent operation makes it perfect for urban adventures. There are also three other variants with a 63kWh battery offering up to 420km WLTP range, priced from $40,990 and up to $46,990 driveaway.

Comparing price against claimed driving range, the GWM Ora Standard Range comes in at a cost of $116/km.

A maximum fast-charge rate of 64kW allows it to recharge from 10-80% in 41 minutes. On an AC charger it can reach an 11kW charge rate.

Other specs include a top speed of 160km/hr, 126kW power output from its single motor, 250Nm torque and acceleration from a standing start to 100km/hr in 8.3 seconds.

Its 4,235mm length is the shortest in the $40,000-$50,000 EV segment but it sits on a relatively long wheelbase of 2,650mm leaving plenty of room for passengers. It also has the lightest kerb weight of the five weighing in at just 1540kg. Perhaps its main downfall is a cramped boot capacity that clocks in at just 228L, or 858L with the seats down.

Of the five, it is the only one without vehicle-to-load charging capacity.

Order books opened in February 2023 and first vehicles are expected to be delivered to customers later this year. A more expensive long-range variant with 63kWh battery and up to 420km WLTP range is also available for around $50,000 driveaway.

For an extra $5,000 or so, drivers can level up to the GT variant for a panoramic sunroof, electric tailgate, 18-inch alloys, red brake calipers, driver’s seat with memory, heated steering wheel and automatic parking.

MG ZS EV 

One of two EVs now available from MG, the MG ZS EV is priced from $39,990 before on-road costs in its Standard Range Excite format, after MG also dropped prices in March and introduced nationwide driveaway pricing.

Updated in 2022 with more high-tech and streamlined features including a closed grille and a larger 10.1” touchscreen, the ZS EV is the all-electric version of the ZS medium SUV.

It remains a solid offering for the local EV market and has a WLTP driving range of up to 320km from a 51kWh battery.

This puts its cost per kilometre at a reasonable $124, a little less than the BYD Atto 3 Standard Range.

The MG ZS EV can accelerate from standstill to 100km/h in 8.2 seconds with its 130kW/280Nm front axle motor, and has a top speed of 175km/h. From a standing start it can accelerate to 100km/hr in 8.2 seconds.

It’s top DC fast-charge rate is 80kW allowing a top up on the road in 36 minutes, while the AC max charge rate of 11kW allows a full charge in 5 hours.

With a 4,287mm length and 1,504mm width, the ZS EV has a wheelbase length of 2,585mm. This doesn’t diminish its storage capacity however: inside, the ZS EV boasts a generous 359L boot space (1187L with the seats down.) It can tow 500kg and also offers 2.2kW vehicle-to-load charging capacity.

The MG ZS EV remains one of the best-value EVs on the market, with its appeal being significantly boosted by the new styling. The addition of the Long Range variant with up to 440km WLTP range from its 72.6kWh battery is also a welcome addition to the local market after being introduced at the Fully Charged EV Expo in 2023.

MG MG4

The MG4 is the first EV from the SAIC-owned brand to come to Australia on a pure electric platform. As of March 2024 it is available in four variants starting with a 51kWh Excite variant that is priced at $38,990 driveaway, equalling $110 per kilometre of WLTP driving range.

But it gets better. There is also the Standard Range 64kWh battery in either an Excite or Essence Trim, priced at $44,990 for the former and $46,990 for the latter, all inclusive of on-road costs.

The 64kWh Excite trim has a WLTP range of 450km, giving it a cost per kilometre of just $100 - the lowest we’ve seen to date. Representing staggeringly good value for money, it offers generous equipment levels and a spacious cabin.

The 64kWh Excite trim of the standard-range MG4 has a WLTP range of 450km and has a power output of 150kW/250Nm torque. Acceleration from 0-100 is 7.9 seconds, to a top speed of 160km/hr.

It has the same power output as the Essence at 150kW/250Nm torque. Acceleration from 0-100 is also 7.9 seconds, and the top speed is 160km/hr.

The Excite misses out on some of the safety functions of the Essence - blind spot detection, lane change assist, rear cross-traffic alert, and door opening warning. Rear parking sensors, LED headlights and running lights and power mirrors are also absent.

A Long Range 77kWh battery in Essence trim is also available from $55,990 before-on-road costs. It offers up to 530km WLTP range, and sports a pumped up 180kW power.

Along with this comes a 2.2kW vehicle-to-load function, as well as the fastest charging rate of the five. 

The max charging rate of 140kW for the 64kWh battery allows it to top up on the road in just 28 minutes from 10-80% according to MG. 

On an AC charger it reaches a top charge rate of 7kW, which means it will take 9 hours to recharge from empty to full.

The length is 4,287mm and at 1,504mm high it is the lowest of the five. It also has the shortest wheelbase at 2,405mm. Inside this gives it a storage capacity of 363L, or 1177L with the seats down.

The MG4 is also rated for towing 500kg; not bad for what is essentially a hatchback. Keep in mind that with its larger 64kWh battery it is also the heaviest of the five, weighing in at 1,685kg.

In conclusion, the MG 4 is a very affordable electric vehicle that offers great value for money. And, according to reviews, the MG 4’s driving experience is arguably its most impressive feature, with ride comfort that’s way ahead of anything else in its class.

BYD Dolphin

The BYD Dolphin is a compact electric hatchback that launched in June this year taking the reins as Australia's most affordable EV to date with a starting price of $38,890 before on-road costs, besting MG's MG4 on price by ten dollars. 

The Dolphin comes in two variants initially— Dynamic ($38,890 plus on-road costs) and Premium ($44,890 plus on road costs). The Dynamic has a 44.9kWh Blade battery providing 340km of driving range on a single charge. Its single electric motor on the front axle delivers 70kW of power and 180Nm of torque. It can accelerate from 0 to 100km/h in 10.5 seconds and reach a top speed of 150km/h. With a top charge rate of 60kW using a DC charger, it's battery can be replenished to 80 per cent in around 40 minutes. 

Comparing price against driving range, the BYD Dolphin comes in at a cost of $114/km.

Seating five occupants, the Dolphin comes with ergonomically designed front sports seats (heated) and headrests made of vegan leather. Rear seats offer decent legroom and when folded down, expand the 345L boot to 1310L.

Both variants are well-equipped with the same standard features including a large panoramic sunroof, rotating 12.8" infotainment system with Apple CarPlay and satellite navigation, adaptive LED headlights, a 360-degree camera system, a wireless phone charger, keyless entry and push-button start.

The Dolphin also has vehicle-to-load technology with 3.3kW capacity to charge external devices, such as electrical camping equipment. For an extra $6,000, buyers get a premium variant with a 60.48kWh battery offering 427km driving range.

The Dynamic and Premium Dolphin are available in four two-tone colour combinations – ski white/grey, coral pink/grey, blue/grey, and gray/black.

First deliveries of the Dynamic and Premium variants commence in September/October 2023, BYD says. Coming next year, BYD will be bringing its third variant to Australian shores, Dolphin Sport ($49,990 plus on road-costs) with 1,000 available to buy. Orders are open now but expect to wait for first deliveries in 2024.

 BYD Atto 3

The BYD Atto 3 is a medium-sized all-electric SUV that offers a good mix of driving range, storage and towing capacity.

Its front axle motor is powered by a BYD’s proprietary ‘Blade’ battery that employs a lithium iron phosphate chemistry – the same as a Tesla Model 3 – that boasts its ability to withstand a nail penetration test without emitting fire or smoke.

In its Standard Range format it is priced from $48,011 so now sits at the upper end of the $40,000-$50,000 EV range. This variant comes with a 50.1kWh battery offering up to 345km WLTP range that can charge at a top rate of 70kW, and on an AC charger a top rate of 7kW for a full charge in 7.75 hours.

Comparing price against driving range, this vehicle comes in at a cost of $139/km.

It is built on BYD’s dedicated EV platform, and while the ride and handling may not tickle the fancy of keen drivers, it doesn’t disappoint. Specs include a top speed of 160km/hr, 150kW power output from its single motor, 310Nm torque and acceleration from a standing start to 100km/hr in 7.3 seconds - the quickest of the five.

It is the largest of the five, with a length of 4,455mm, width of 1,875mm, and it also has the longest wheelbase at 2,720mm. This also gives it the most generous storage capacity: the car has a 440L storage with the rear seats upright, and this can be expanded to 1340L with them folded down.

Standard features include electric slide panoramic sunroof, ambient lighting, keycard entry, LED headlights, one-touch tailgate and roof rails. One particularly cool addition is a rotating 12.8” touchscreen. Notably, the Atto 3 is rated for a decent 750kg towing capacity - the greatest of the five compared here.

The BYD Atto 3 also has 2.2kW vehicle-to-load capacity. Also available in an Extended format with 60.1kWh battery that offers up to 420km driving range for an extra $3,000.

This article was updated for clarity around value for money on 22 September, 2023. Pricing updates were added on 23 April, 2024.