Top 8 Cheapest EVs in Australia [2026 Updated]

Electric cars are becoming more accessible for Australian buyers. In 2026, there are more affordable EV options on the market than there were even a short time ago, with a growing mix of compact hatchbacks, small SUVs and city-focused electric cars now competing at the lower end of the market. 

That's good news for buyers who want to reduce petrol costs and move into an EV without stepping into a much higher purchase price bracket.

Still, the cheapest EV on paper is not always the cheapest to own. Range, charging speed, warranty cover, insurance, battery confidence and monthly repayments can all influence the real cost over time.

This guide looks at eight of the cheapest electric cars to purchase in Australia right now, what makes them worth considering, and what to weigh up before you commit.

What are some of the cheapest EVs in Australia right now? 

Australia’s affordable EV market has become much more competitive in 2026. Buyers are no longer limited to one or two lower-cost choices. There is now a genuine field of affordable EV hatchbacks and small SUVs competing on price, range, features and practicality.

Right now, some of the key models in that conversation are:

• BYD Atto 1
• Geely EX2
• MG4 EV Urban
• GAC Aion UT
• BYD Dolphin
• GWM Ora
• BYD Atto 2
• Jaecoo J5 EV

That doesn't mean every buyer should simply choose the cheapest model. Some of these vehicles are better suited to short urban trips, while others offer more range, more space or a more practical SUV body style.

1. BYD Atto 1

From $23,990

If you are searching for the cheapest electric car in Australia, the BYD Atto 1 is the obvious starting point.

This model has changed the affordable EV conversation by pushing the entry point for a brand-new electric car much lower than many buyers expected. It is small, city-focused and designed to appeal to buyers who want to make the switch to electric driving without stretching their budget too far.

Why it stands out:

• among the lowest-cost new EVs on the Australian market
• compact and easy to manage in urban driving
• suitable for buyers stepping into EV ownership for the first time
• offered in more than one battery and range configuration
• offers 6 years manufacturer warranty

Best for:

• city drivers
• commuters with predictable daily trips
• buyers who want the lowest new-EV entry point

What to consider:

• lower-cost variants have shorter range than some rivals
• it makes more sense as a city and suburban car than a regular long-distance vehicle

Check out BYD Finance options here 

2. Geely EX2

From $26,490

The Geely EX2 is one of the newest additions to the affordable EV market this year.

It gives buyers another genuinely low-cost hatchback to compare with the BYD Atto 1, rather than forcing them into a larger and more expensive SUV. That makes it highly relevant for buyers focused on value, everyday practicality and efficient city use.

Why it stands out:

• strong value positioning in the low-cost EV market
• hatchback practicality without moving too far up in price
• useful alternative for buyers comparing entry-level EVs side by side

Best for:

• buyers who want a budget EV but still want a practical hatch
• drivers open to a newer brand in the Australian market

What to consider:

• some buyers may want more local owner feedback before committing
• final appeal will depend on how much range and charging speed matter to you

Explore finance for Geely cars with Ausloans

3. MG4 EV Urban

From $29,990

The MG4 EV Urban deserves to be treated separately from the earlier MG4 range because it now plays a more direct role in the lower-cost EV discussion.

For many drivers, it may feel like a more complete everyday car than the very cheapest city-focused EVs, while still sitting in a price bracket that keeps it firmly in the affordable category.

Why it stands out:

• highly competitive value for a practical electric hatchback
• broader mainstream appeal than some smaller city EVs
• useful balance of space, usability and price

Best for:

• buyers who want a practical hatchback EV rather than a very small city car
• drivers who want an affordable EV that still feels like an everyday all-rounder

What to consider:

• some rivals may still beat it on absolute entry price
• it's important to compare the Urban variant specifically, not just older MG4 references

Explore MG finance options

4. GAC Aion UT

From $31,990

The GAC Aion UT is one of the newer names that now deserves a proper place in the affordable EV shortlist.

It adds further pressure to the lower end of the EV market and strengthens the case for buyers who want a hatchback that offers a useful blend of battery range, performance and value without stepping into a more expensive bracket.

Why it stands out:

• now part of the serious low-cost EV conversation in Australia
• hatchback format with strong value positioning
• relevant for buyers comparing newer low-cost entrants rather than only established names

Best for:

• buyers who want another genuine alternative to BYD, MG and Geely
• drivers who want a practical hatch with competitive specifications

What to consider:

• newer entrants may still need time to build broader consumer familiarity
• value should be weighed against charging support, warranty and servicing confidence

5. BYD Dolphin

From $29,990

The BYD Dolphin remains one of the most popular affordable EV hatchbacks in Australia.

It helped make lower-priced EV ownership feel realistic for many households and still offers one of the better-known value benchmarks in the market. While newer and cheaper rivals are now pushing harder at the bottom end, the Dolphin remains highly relevant because it combines affordability with everyday hatchback usability.

Why it stands out:

• established in Australia’s affordable EV market
• practical, zippy hatchback
• more rounded everyday feel than some ultra-budget city EVs

Best for:

• buyers who want an affordable EV with practical day-to-day usability
• drivers wanting a hatchback rather than an SUV

What to consider:

• it may not always be the very cheapest option anymore
• final value depends on current variant structure and offers

More BYD vehicle finance options

6. GWM Ora

From $30,490

The GWM Ora remains one of the best-known affordable EVs for buyers who want a small electric car without stretching their budget too far.

It has been a familiar name in the lower-cost EV segment for some time and still makes sense for buyers who want a hatchback-style EV with a more established on-road presence in Australia.

Why it stands out:

• familiar option in the affordable EV market
• distinctive styling compared with some more conventional rivals
• still relevant for buyers comparing lower-cost hatchback EVs

Best for:

• buyers who want a lower-cost electric hatchback
• drivers who value familiarity and a more established presence in the segment

What to consider:

• newer arrivals now put more pressure on its value story
• compare actual range, features and current offers before deciding

More about GWM finance with Ausloans

7. BYD Atto 2

From $31,990

The BYD Atto 2 remains one of the most popular affordable EV SUVs in Australia.

It gives buyers a small SUV option from a brand already strongly associated with lower-cost EVs, making it a natural comparison point for anyone who likes the value proposition of BYD but wants more space than the Atto 1 or Dolphin provides.

Why it stands out:

• accessible entry point into the EV SUV market
• practical size for buyers moving from compact petrol or hybrid SUVs
• strong relevance for families and buyers who prefer higher-riding vehicles

Best for:

• buyers who want an electric SUV without stretching into a much higher price bracket
• small families
• drivers moving out of a small petrol SUV

What to consider:

• it generally costs more than the cheapest hatchbacks
• some buyers may still prefer other rivals depending on offers and fit-out
  
  

Compare BYD finance with Ausloans

8. Jaecoo J5 EV

From $36,990

The Jaecoo J5 EV earns its place because it gives buyers another affordable SUV-style EV to compare at the more attainable end of the market.

It looks more premium than its price point suggests and will appeal to buyers who want a small electric SUV rather than a compact hatchback, especially if styling and presentation matter as much as price.

Why it stands out:

• great value for an electric SUV
• more premium-looking presentation than some lower-cost rivals
• useful option for buyers who want SUV practicality rather than hatchback simplicity

Best for:

• buyers who want an affordable electric SUV
• drivers who want something that feels a little more upmarket in design
• households comparing smaller EV SUVs side by side

What to consider:

• buyers need to make sure they are comparing the EV price rather than the base J5 petrol price

Explore Ausloans finance options for Jaecoo

Why purchase price is only part of the cost

A cheap EV can look attractive at first glance, but the purchase price is only one part of the ownership picture.

You should also think about:

• electricity costs at home and on public chargers
• servicing requirements
• insurance premiums
• tyre replacement costs
• battery warranty confidence
• depreciation and resale value
• whether you need home charging installed

A lower-priced EV can still represent strong value, but only if it suits the way you actually drive. A car with a lower entry price but shorter range or slower charging may not feel like the better option if it creates inconvenience over time.

Range and charging considerations

This is where buyers should slow down and compare carefully.

The cheapest EV in Australia may also be one of the shortest-range EVs on the market. That is not necessarily a problem. For buyers doing school runs, commuting and local trips, a lower-range EV may still be more than adequate.

But if you regularly travel longer distances, drive regionally or do not have easy access to home charging, the cheapest option may not be the best overall fit.

When comparing affordable EVs, look closely at:

• your realistic weekly driving distance
• whether you can charge at home
• how often you rely on public charging
• how much range buffer you want
• DC fast-charging capability, not just battery size

Warranty and battery cover

Budget-conscious buyers often focus on purchase price, but warranty support matters just as much.

Before choosing an EV, compare:

• vehicle warranty length
• battery warranty duration
• kilometre limits
• roadside assistance terms
• dealer and servicing support

This is particularly important with newer market entrants. A longer warranty or stronger battery cover can make a lower-cost EV feel far more reassuring over the medium term.

New vs used affordable EVs

A new EV is not the only affordable option.

For some buyers, a used EV may offer stronger overall value than the cheapest brand-new model, especially if it provides more range, a larger battery or a more established ownership history.

A used EV may suit you if:

• your budget is limited but you want more size or range
• you are comfortable checking battery health and warranty position
• you want to compare total value rather than just entry price

A new EV may suit you if:

• you want full warranty cover
• you want the latest safety and infotainment features
• you prefer a clean ownership starting point
• finance on a new vehicle improves affordability compared with buying outright

How finance affects the monthly cost

The purchase price of an EV matters, but so does how the vehicle is funded.

A cheaper EV may reduce repayments, but the full monthly picture can still vary depending on:

• loan term
• deposit size
• balloon structure, if applicable
• interest rate
• insurance
• charging costs
• expected running-cost savings compared with a petrol vehicle

That means two EVs that appear close on purchase price may feel quite different month to month once finance and ownership costs are considered.

If you are weighing up cost as well as model choice, it can help to compare options through your EV car loans page after narrowing down the right type of vehicle.

Which cheap EV is best?

There is no single answer for every buyer.

If your priority is the lowest entry price, the conversation starts with models such as the BYD Atto 1. If you want more hatchback practicality, the Geely EX2, MG4 EV Urban, GAC Aion UT and BYD Dolphin are all relevant comparisons. If you want a lower-cost SUV-style EV, the GWM Ora, BYD Atto 2 and Jaecoo J5 EV are stronger places to look.

The right option depends on what matters most to you:

• lowest upfront cost
• best value for commuting
• easiest move from petrol to EV
• best affordable SUV option
• strongest balance of range and price