The Cheapest Electric Cars Available In Australia

It’s no secret that the future is electric. With rising fuel costs and a desire to combat climate change, electric cars are in vogue, and they are here to stay. They are a pleasure to drive, remarkably quiet, have zero emissions (due to a complete lack of exhaust) and excellent torque comparable to that of a fuel-powered car. 

Yet, even with the promise of a fossil-fuel-free future and a much quieter driving experience, there has always been one barrier to purchasing an electric car: the price.  

Until now.

Are electric cars becoming more affordable?

Gone are the days of Tesla dominating the electric car market. In the last couple of years, we have seen an explosion of new makes and models entering this space. New technology and an increase in Chinese imports have led to a highly competitive market. 

The upside of this is cheap electric cars. 

In response, Australia’s appetite for electric cars has grown exponentially. In 2021, Australia recorded 20,665 electric car sales, which was three times higher than in 2020. Electric car sales now make up almost 2% of the new car market. 

Did you know that you can now purchase an electric car in Australia (even an SUV model) for under $50,000? In fact, Australia’s five most affordable electric cars are all under $60,000.

Learn more: How Much Should You Spend On A Car?

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    How cheap are electric cars to run?

    Before we dive into the five cheapest electric car models available in Australia, we should first examine how cheap it is to run an electric car. Is the hype really worth the savings in running costs?

    Considering petrol prices are reaching $2/litre, it’s safe to say that electric cars are destined to win the race in running costs. Electric cars can be charged for about $0.20/litre, or even cheaper if you are using solar power at home. 

    It is estimated that the savings would be more than $20,000 over the lifetime of the car, which doesn’t include the government cash incentives or rebates currently on offer.

    What are the cheapest electric cars in Australia?

    1. BYD Atto 3 - $44,990*

    Type: Mid-sized SUV 

    Driving range: 320-480 kilometres

    Time to 80% charge: 45 minutes

    Key features: 

    • Filled with safety features, the BYD Atto 3 is fitted with lane departure warning, intelligent cruise control with ABS and traction control. 
    • Automatic emergency braking system with intelligent front and rear collision warning.
    • Seven SRS airbags - front, front side, full-length curtain and driver's passenger side airbags. 
    • ISOFIX child restraint anchorage points (outer rear seats). 
    • Electric panoramic sunroof and eight speakers surround sound system. 
    • Ample boot space with 1,330 litres of available space with the rear seats down. 

    *Prices vary from state to state.

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    2. MG ZS EV - $46,990

    Type: Mid-sized SUV

    Driving range: 263 kilometres

    Time to 80% charge: 40 minutes

    Key features:

    • Three driving modes to give you choice anywhere, anytime: eco, normal and sport. 
    • Superior safety, with a 360-degree view camera, three regenerative braking modes and MG Pilot driver safety technology which is constantly monitoring surroundings. 
    • Push button start for convenience.
    • Energy saving LED daytime running lights for added safety. 
    • 500kg towing capacity, spacious interior storage options, and seating for five, the ZS EV is ready for your weekend.

    3. Nissan Leaf - $54,187

    Type: 5-door hatchback

    Driving range: 270 kilometres

    Time to 80% charge: 60 minutes 

    Key features:

    • Large luggage space with 1,176L of available storage space with seats folded down.
    • A huge range of safety features including, rear view camera with predictive-path technology, lane intervention, blind spot warning, emergency braking with pedestrian detection, driver alertness and forward collision warning. 
    • Fitted with virtual 360-degree bird’s-eye view assist - you’ll slide into the tightest spots and make it look easy without ever scuffing a wheel again.
    • Play your favourite songs on the high-quality Bose® Energy Efficient Premium Audio System. 
    • Stay warm in winter with the heated seats and steering wheel.

    4. Hyundai IONIQ Electric - $54,591

    Type: Mid-sized SUV

    Driving range: 451 kilometres

    Time to 80% charge: 54 minutes

    Key features:

    • Rather than relying on a conventional gearbox, the Hyundai IONIQ uses a single-speed reduction gear that provides instant acceleration and performance at all speeds. 
    • Is fitted with regenerative braking, a new technology that charges your battery each time you brake while driving.
    • Jam-packed with safety features, including forward collision avoidance assist, blind-spot collision warning, smart cruise control driver attention warning and lane following assist.
    • Say goodbye to messy cables and wires with the wireless smartphone charging - simply place your smartphone on top of the wireless charging pad.

    5. Hyundai Kona Electric - $59,346

    Type: SUV

    Driving range: 484 kilometres

    Time to 80% charge: 54 minutes

    Key features:

    • Take advantage of cheaper off-peak electricity rates when using the scheduling tool on the smart multimedia touchscreen. Simply schedule your next charge at a time that suits you. 
    • Fitted with Hyundai's latest cutting-edge driver safety technology, SmartSense, it has six airbags, rear camera view and rear park assist.
    • Clever rain sensing wipers and auto dusk sensing headlights.
    • LED daytime running lights which only enhance its wide stance and sleek appearance.
    • Smart key and push button start.
    • Stand out in style, the Hyundai Kona Electric boasts a range of bright, vibrant colours available.

    With new EV governmental incentives, such as free stamp duty and rebates, electric cars are becoming more affordable (quite literally!) with every month passing. There’s never been a better time to purchase an electric car in Australia. At Driva, we know how to make buying an electric car easier. In as little as 60 seconds we provide you with fully transparent, personalised, fixed-rate car loan options on a range of electric vehicles. 

    Learn more about our electric car loan options and make a difference today.

    Declan Flaherty

    As the Digital Marketing Manager at Driva you can find Declan during the day transfixed by a flurry of spreadsheets, mar-tech, Slack emojis and graphs all pointing in the right direction and keeping up to date with the latest car finance trends.

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