Electric vehicle (EV) prices in Australia are now catching up with their petrol counterparts. According to recent reports, some EVs in key segments are only a couple of thousand dollars away from being the same price as their ICE equivalent. Sometimes, they’re even cheaper.
EVs have traditionally been more expensive due to battery costs, but that’s changing quickly. Over the past year, prices have fallen dramatically, making EVs more competitive than ever.
Take the Geely EX5, for example. It’s now priced at $40,990 before on-road costs, making it the most affordable mid-size electric SUV in Australia. It even undercuts the Toyota RAV4 Hybrid, which is the country’s best-selling model.
BYD’s Dolphin hatchback and Atto 3 small SUV are now priced under $30,000 and $40,000, respectively. These price cuts bring EVs in line with popular petrol-powered hatchbacks and SUVs, giving buyers more choices at similar price points.
More Choices for Buyers
With more EVs hitting the market, buyers now have several electric options across different vehicle segments. Here’s how some of the top affordable EVs stack up against their petrol-powered rivals:
- BYD Dolphin Essential – $29,990
-
- Petrol comparison: Toyota Corolla – $32,110
-
- Why choose the Dolphin? The BYD Dolphin offers a 340 km range (WLTP) and comes with a 12.8-inch rotating touchscreen, wireless Apple CarPlay, and a five-star ANCAP safety rating—features not always available in entry-level petrol models.
- BYD Seal – $46,990
-
- Petrol comparison: Toyota Camry – $39,990
-
- Why choose the Seal? The BYD Seal delivers up to 570 km of range (WLTP) and 390 kW of power in the AWD variant, making it a sportier alternative to the Camry. It also includes premium features like ventilated seats and a 15.6-inch touchscreen, usually found in more expensive petrol sedans.
- BYD Atto 3 – $39,990
-
- Petrol comparison: Hyundai Kona – $32,500
-
- Why choose the Atto 3? The Atto 3 offers a 420 km range (WLTP) and a futuristic interior with a rotating touchscreen, premium materials, and a suite of active safety features. Unlike the Kona, it requires less maintenance and has significantly lower fuel costs.
- Geely EX5 – $40,990
-
- Petrol comparison: Toyota RAV4 – $42,260
-
- Why choose the EX5? As the most affordable mid-size electric SUV in Australia, the EX5 competes directly with the Toyota RAV4. While the RAV4 remains popular, its hybrid variants have long wait times, making the EX5 a more readily available alternative with zero emissions and lower lifetime running costs.
Beyond the sticker price, EV buyers benefit from:
Lower Fuel Costs – Charging an EV can be significantly cheaper than refueling a petrol vehicle, especially with home solar setups.
Less Maintenance – No oil changes, fewer moving parts, and longer-lasting brakes reduce service costs.
Government Incentives – Some states offer rebates, reduced registration fees, and tax benefits for EV buyers, further improving affordability.
With price parity between EVs and petrol models becoming a reality, Australian buyers now have more options than ever to make the switch to electric driving.
What’s Next for EVs?
While small and mid-size EVs are now more affordable, larger electric SUVs and Utes still cost more than their petrol and diesel counterparts. However, as battery technology advances and competition increases, further price reductions are likely.
With EV prices dropping, government incentives in place, and charging infrastructure improving, the shift to electric vehicles in Australia is gaining momentum. It may not be long before EVs become the go-to choice for most buyers.
Did you find this article informative? Click the ‘heart’ button above to give it a ‘like’!
