How much are electric cars in Australia? Full-market pricing!

"Electric vehicles aren’t affordable."

This remains the go-to complaint and barrier to electric car adoption, understandably. But, times are changing.

While new car ‘affordability’ depends on your personal circumstances, there is a growing list of new lower-cost EVs entering Australia that have increased competition and buyer choice.

How much do new electric cars cost in Australia today? Are they affordable, or are they just so-called 'luxury cars'? Read on to find out...

JUMP AHEAD

• ⚡️ How much do EVs cost right now?
• 😩 Why are EVs expensive?
• 🏆 Top 10 'cheapest' new EVs in Australia

• 💰 Full EV model pricing in Australia, by body type

• 🤔 Time to make the electric switch?

13

⚡️ How much do EVs cost right now?

The cheapest new EV you can currently buy in Australia starts from just under $39,000 before on-road costs (or about $41,000 drive-away) – but most models centre in the $60,000 to $100,000 range.

Some state governments offer limited rebates and incentives to further lower the price tag, while the federal government has exempted the fringe benefits tax (FBT) for select electric models on company novated leases to slash running costs – which has been mooted as the most affordable way to get into an EV.

In the case of some Chinese-made EV models – such as the BYD Dolphin, MG 4 and Tesla Model 3 – their price tags closely match petrol engine powered rivals, if not even cheaper.

Generally, for the price range of a popular petrol- or diesel-powered 4x4 ute and large family SUV today, buyers can comfortably get an EV from a size class below.

As more Australians and business fleets make the electric switch, those models will eventually flow on to create a larger and more accessible used EV market.

And, while electric cars are generally not ‘cheap’, reduced total ownership costs mean the price premium (if applicable) will be recouped over time as you drive more.

Of course, there are other factors to consider such as relatively inferior driving range, the ability (or lack thereof) to ideally charge at home, and typically pricier insurance premiums – so EVs may not be right for you depending on your driving needs (at least for now).

🔼 Back to top

13

😩 Why are EVs expensive?

Blame the battery.

Electric cars generally cost between 20 to 50 per cent more than the equivalent combustion engine model, even though some EV models actually undercut their petrol or diesel competition.

Expensive, mining-intensive and resource-limited materials needed to form large battery packs – including lithium, cobalt, nickel, manganese – and other rare earth minerals for the electric motor are key causes of the EV price premium.

Lithium prices in particular have risen slightly in 2022 due to the intense demand for EVs globally, which has caused a supply shortage. The materials have also been questioned for their high environmental footprint – but is still more environmentally-friendly to drive an EV over time.

However, new battery developments such as the lithium-iron-phosphate (LFP) cathode, emerging sodium-ion tech, and supply chain tracing are aiming to bring costs down and address today’s contentious issues.

🔼 Back to top

🏆 Top 10 most affordable new EVs in Australia

This story outlines the price of every new electric vehicle in Australia by body type, but which are the cheapest? Check out our guide below for more.

🔼 Back to top

💰 The price of every new EV model on sale in Australia

🚘 Skip to the EV body style you're most interested in

• Small hatches
• Small/medium sedans and liftbacks
• Large sedans and liftbacks
• Wagons
• Light/small SUVs
• Medium SUVs
• Large SUVs
• People movers
• Light commercial vans
• Ute

🔼 Back to top

13

Electric hatches

• BYD Dolphin Dynamic* – $38,890
• MG 4 Excite 51 – $38,990
• GWM Ora Standard Range – $39,990
• BYD Dolphin Premium* – $44,990
• MG 4 Excite 64 – $44,990
• GWM Ora Extended Range – $45,990
• MG 4 Essence 64 – $47,990
• GWM Ora Ultra – $48,990
• Nissan Leaf – $50,990
• GWM Ora GT – $51,990
• Fiat 500e La Prima – $52,500
• MG 4 Long Range 77 – $55,990
• Cupra Born – $59,990
• Nissan Leaf E+ – $61,490
• Mini Cooper SE Yours – $64,975

🚘 Back to top

13

Small/medium electric sedans and liftbacks

• Tesla Model 3 RWD** – $57,400
• Polestar 2 Standard Range Single Motor – $67,400
• Tesla Model 3 Long Range** – $70,400
• Polestar 2 Long Range Single Motor – $71,400
• Hyundai Ioniq 6 Dynamiq RWD – $74,000
• Polestar 2 Long Range Dual Motor – $76,400
• Tesla Model 3 Performance** – $83,400
• Hyundai Ioniq 6 Techniq AWD – $83,500
• Polestar 2 Long Range Dual Motor with Performance Pack – $85,400
• Hyundai Ioniq 6 Epiq AWD – $87,288
• BMW i4 eDrive40 – $102,900
• Mercedes-Benz EQE 300 sedan – $133,575
• BMW i4 M50 – $133,900

🚘 Back to top

13

Large electric sedans and liftbacks

• Genesis Electrified G80 – $145,675
• Mercedes-Benz EQE 350 4Matic sedan – $153,575
• BMW i5 eDrive 40* – $155,900
• Porsche Taycan – $165,700
• Audi E-Tron GT – $178,875
• Porsche Taycan 4S – $206,600
• Mercedes-AMG EQE 53 sedan – $213,574
• BMW i5 M60 xDrive* – $215,900
• Mercedes-Benz EQS 450 4Matic liftback* – $219,900
• Audi E-Tron GT RS – $246,875
• Porsche Taycan GTS – $249,600
• Porsche Taycan Turbo – $293,900
• BMW i7 xDrive60 M Sport – $306,900
• Mercedes-AMG EQS 53 liftback – $327,075
• BMW i7 M70 xDrive60 – $344,900
• Porsche Taycan Turbo S – $365,100

🚘 Back to top

13

Electric wagons

• Porsche Taycan Cross Turismo 4 – $186,500
• Porsche Taycan Cross Turismo 4S – $217,500
• Porsche Taycan Cross Turismo Turbo – $296,600

🚘 Back to top

13

Light/small electric SUVs

• MG ZS EV Essence – $47,990
• BYD Atto 3 Standard Range – $48,011
• BYD Atto 3 Extended Range – $51,011
• MG ZS EV Long Range – $55,990
• Volvo EX30 Single Motor Extended Plus* – $59,990
• Peugeot E-2008 – $59,990
• Volvo EX30 Single Motor Extended Ultra* – $64,990
• Mazda MX-30 Electric E35 Astina – $66,410
• Kia Niro EV S – $66,590
• Volvo EX30 Twin Performance Ultra* – $69,990
• Kia Niro EV GT-Line – $72,360
• Lexus UX300e Luxury – $79,990
• Mercedes-Benz EQA 250 – $82,300
• BMW iX1 xDrive30 xLine – $84,900
• BMW iX1 xDrive30 M Sport – $84,900
• Lexus UX300e Sports Luxury – $87,665

🚘 Back to top

13

Medium electric SUVs

• Tesla Model Y RWD** – $65,400
• Hyundai Ioniq 5 Dynamiq RWD – $72,000
• Kia EV6 Air RWD – $72,590
• Volvo XC40 Recharge Single Motor Plus – $76,990
• Tesla Model Y Long Range** – $78,400
• Volvo C40 Recharge Single Motor Plus – $78,990
• Hyundai Ioniq 5 Techniq AWD – $79,500
• Kia EV6 GT-Line RWD – $79,590
• Ford Mustang Mach-E Select* – $79,990
• Hyundai Ioniq 5 Epiq AWD – $84,981
• Volvo XC40 Recharge Twin Motor Ultimate – $85,990
• Kia EV6 GT-Line AWD – $87,590
• Mercedes-Benz EQB 250 – $87,734
• Volvo C40 Recharge Twin Motor Ultimate – $87,990
• Ford Mustang Mach-E Premium* – $91,665
• Tesla Model Y Performance** – $92,560
• Kia EV6 GT – $99,590
• BMW iX3 – $104,900
• Mercedes-Benz EQB 350 4Matic – $106,155
• Genesis GV60 AWD – $106,375
• Ford Mustang Mach-E GT* – $107,665
• Genesis GV60 Performance AWD – $113,375
• Lexus RZ450e Luxury – $121,675
• Genesis Electrified GV70 Performance AWD – $126,475
• Lexus RZ450e Sports Luxury – $133,675
• Jaguar I-Pace R-Dynamic SE – $147,475
• Jaguar I-Pace R-Dynamic HSE $164,275

🚘 Back to top

13

Large electric SUVs

• Polestar 3 Long Range Dual Motor* – $132,900
• BMW iX xDrive40 – $135,900
• BMW iX xDrive40 Sport – $141,900
• Polestar 3 Long Range Dual Motor with Performance Pack* – $141,900
• Audi Q8 E-Tron 55 – $155,100
• Audi Q8 E-Tron 55 Launch Edition – $167,100
• Audi Q8 E-Tron 55 Sportback – $167,100
• Audi E-Tron S – $168,400
• Audi E-Tron S Sportback – $175,400
• BMW iX xDrive50 Sport – $180,400
• BMW iX M60 – $228,400

🚘 Back to top

13

Electric people movers

• LDV Mifa 9 Mode – $104,000
• LDV Mifa 9 Executive – $115,000
• Mercedes-Benz eVito Tourer – $127,018
• LDV Mifa 9 Luxe – $129,000
• Mercedes-Benz EQV – $157,450

🚘 Back to top

13

Electric light commercial vans

• Peugeot E-Partner – $59,990
• Mercedes-Benz eVito cargo van – $91,051
• LDV eDeliver 9 Cab Chassis – $99,990
• Ford E-Transit Mid Roof – $104,900
• Ford E-Transit High Roof – $106,490
• LDV eDeliver 9 LWB Mid Roof – $116,537
• LDV eDeliver 9 LWB High Roof – $118,836

🚘 Back to top

13

Electric ute

• LDV eT60 – $92,990

🚘 Back to top

🤔 Is it time to make the electric switch?

The purchase price tag of an electric car is just one of many factors to consider when making the electric switch. Check out our comprehensive guides below to know everything about EVs.

🔼 Back to top