Editor’s note: This story was published before the latest news of GWM’s new price cuts. See: GWM slashes price of Ora electric hatch to make it cheapest EV in Australia. This story has now been updated to reflect that change.
While electric vehicles have yet to reach price parity with petrol cars in the lower end of the new car market – EV prices have been quietly falling, even as their driving range increases.
There was a time (not so long ago) that EVs with more than 300 km of relatively realistic range (under the WLTP test standard) were rare and extremely expensive.
Nowadays, only two of the almost 70 EV passenger cars available in Australia fail to offer greater than 300 km.
(These being the Mini Cooper SE at 232 km and the now aging ZE1 Leaf at 270 km. Mind-you, the Leaf e+ 62 kWh version does offer a slightly more respectable 385 km – but this is still very low for a battery of its size. All three however are priced well above $50k).
So what EVs will give you a 300 km plus range and not break a $50k budget?
MG4
The MG4 is offered with battery capacities of 51 kWh, 64 kWh and 77 kWh, (giving 350, 450 and 530 km ranges respectively). Both the 51 and 64 kWh models come in under $50k on-the-road.
Normally the Premium 64 would be above the $50k price point, but MG are doing a deal on 2023 plate vehicles. This means if you’re fast – you can save between $2,000 and $5,000 on their normal list prices and/or snag a Premium 64 within the $50k price point.
MG ZS EV
MG’s first attempt at an EV, it is not a bad vehicle for what is effectively a converted ICE (internal combustion engine) model. (All the rest in this list are built on bespoke EV platforms).
With a larger battery and lower kWh/100 km efficiency it may not match it with the latest EVs, but it still provides comfortable electric motoring with its decent sized boot and 500 kg tow rating whilst still slipping in under the $50k limit.
It too is currently being heavily discounted on its normal recommended retail price for 2023 plated models, with the Excite model offered below $40,000 (see table above).
GWM Ora
Sneaking in at 310 km range, the budget priced Standard range GWM Ora is currently Australia’s cheapest new EV. It is also one of three that break the $40k barrier in Australia. (The others being 2023 plate models of the MG4 Excite 51 and MG ZS EV).
The extended Ora range offers 35% more range for just 11% more price. Given the range of the Standard Range is barely over 300 km (and in real life might not reliably provide that number) – even if you only do local driving, perhaps upgrading to the Extended Range would be the choice if looking for an easier resale later on.
April 4 update:
Almost as soon as this article was published, GWM announced an across the board price drop for the Ora range. The standard range model is now $35,990 on the road and the Extended Range is now down to $40,990. Plus both the Ultra and GT versions now fall under the $50k price point! The table above has now been updated to reflect these changes.
BYD Dolphin
Rounding out the group are the two versions of the BYD Dolphin – these being the Dynamic (46 kWh) and Premium (62 kWh). The Premium does offer 25% more range over the Dynamic for 12% more cost – but at 340 km WLTP range for the Dynamic, if your budget is tight and a reliable 300km is all you need, there is an argument for not paying the extra for a bigger battery.
Summing up:
It may have taken a while, but we are starting to get a wider choice of models and prices for sub-$50 EVs, with three under $40k.
To be sure, none of them are what you would consider luxury vehicles (they are after all built to a price) but they are all well put together and offer the latest in safety features.
Like always, you will have to inspect and drive them yourselves and see what you do/don’t personally like about each model. (As per normal for car shopping). I will be reviewing as many of these models as I can over the next few months – starting with the MG4 Essence 64. (Which I am currently test driving).
And finally: these may be all that you can choose from for this year. Thus far, only one new model in this price bracket has been slated for release in 2024 (the Cherry Omoda e5 electric at around $45k plus on-road-costs). It would also seem that the Chinese manufacturers have cornered the market in budget BEVs, as all of this list are made there.
Bryce Gaton is an expert on electric vehicles and contributor for The Driven and Renew Economy. He has been working in the EV sector since 2008 and is currently working as EV electrical safety trainer/supervisor for the University of Melbourne. He also provides support for the EV Transition to business, government and the public through his EV Transition consultancy EVchoice.