MG to launch even cheaper EVs: Electric hatch will start below $40,000

MG is poised to launch Australia’s cheapest electric vehicle by some margin, with the brand confirming a Toyota Corolla-sized hatchback battery electric vehicle will arrive with a price tag below $40,000.

While the brand is yet to confirm details of the new model, which is expected to arrive in 2022, it is thought to be different to the existing MG5 EV, with Chinese company’s executives saying that it will be a unique vehicle that’s offered as a BEV only.

That would make it Australia’s cheapest-ever EV, undercutting even the sharply priced ZS electric SUV, which has just launched at $43,990 drive-away (or $40,990 before on-road costs).

Read our full review on the MG ZS EV

The ZS small SUV is considerably cheaper than EVs from key rivals from Nissan and Hyundai, with Leaf listed at $49,990 plus on-road costs, and the Ioniq EV yours for is $48,970, plus on-road costs. The Kona Electric – until this week the cheapest electric SUV – starts at $60,740.

But with the new electric MG model to start in the $30K range, MG has set itself on a collision path with regular hybrid vehicles, with the Toyota Corolla ZR Hybrid listed at $34,695.

“There will be a hatchback EV that will be below $40,000. It will be 2022 or 2023, it will be Corolla-sized, and it will just be an EV,” says Peter Ciao, MG Australia and New Zealand CEO.

“You can’t push people to have (EV) product, but say it’s an additional $20,000. You can’t do that. You need to say it’s the same price, but a much better product.

“Electric vehicles will no longer be a choice of a small group of people. We will make electric vehicles available for everyone. And at an affordable a price.”

Between 2021 and 2025 there’s expected to be hundreds of new electrified vehicle models arriving in Australia, including the Mazda MX-30 in 2021.

See our full calendar of all the new electric cars coming soon.