Thanks to continued instability in the crude oil-producing Middle East, high petrol and diesel prices are likely here to stay quite a while, and that only adds further to everybody’s budgeting and stress. For those of us who are lucky enough to be considering a new car, there are many options to reduce your reliance on fuels, like switching to a hybrid or electric car.

Unlike even just five years ago, there are plenty of cheap electric cars of varying sizes, including hatchbacks, small SUVs and even medium SUVs. Here are five of the best cheap EV options for those wanting to save money on their transportation:

BYD Atto 1

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Price: From $23,990 plus on-road costs
Drivetrain: Front-mounted single motor, 65kW – 115kW, 30kWh and 43kWh batteries
Range (WLTP): 220km – 310km

BYD shocked in late 2025 by launching the cheapest electric car in Australia, priced from just $23,990 plus on-road costs. The BYD Atto 1 is priced similarly to other light cars such as the Kia Picanto and MG 3, but it’s actually electric. The base Essential employs a 30kWh battery (for a claimed 220km of range) and a 65kW electric motor, which is more than enough for most. Those wanting more range and grunt can jump up to the Premium with its more powerful 115kW motor, larger 43kWh battery and healthier 310km of range.

BYD Atto 2

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Price: From $31,990 plus on-road costs
Drivetrain: Front-mounted single motor, 130kW, 51kWh battery
Range (WLTP): 345km

The BYD Atto 2 is the cheapest electric SUV in Australia so far, and has won many fans since its late 2025 launch. Pricing starts from just $31,990 plus on-road costs for the entry-level Dynamic and $35,990 +ORC for the better-specced Premium, and both use the same drivetrain with a 51kWh battery for a claimed 345km range, while a 130kW motor drives the front wheels. Both Atto 2 variants are well equipped and it uses good quality materials on the inside as well. It’s practical, too, with a largish boot a rear seat that can easily hold two taller adults thanks to its tall roof. 

MG 4 Urban

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Price: From $31,990 driveaway
Drivetrain: Front-mounted single motor, 110kW-118kW, 43kW or 54kW batteries
Range (WLTP): 316km – 405km

When is an MG 4 not an MG 4? When it’s the new MG 4 Urban, which is a second version of the MG 4. It shares almost nothing with the regular MG 4, instead, it’s a cheaper, more practical and less sporty alternative. It’s very good value for money, priced from just $31,990 driveaway, and it’s also very well equipped – even features like heated seats and a heated steering wheel are standard. Two models are available with up to 118kW of power and 405km of driving range, which is plenty for urban driving as its name suggests.

MG 4

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Price: From $39,990 driveaway (Essence 64), $47,990 driveaway (XPower)
Drivetrain: Rear-mounted single motor or dual-motor all-wheel drive, 140kW-320kW, 64kWh battery
Range (WLTP): 405km – 452km

The MG 4 has been one of the more popular EVs we’ve seen so far in Australia thanks to its sporty driving experience, practical cabin and the great value we’ve come to expect from the MG brand. It’s just been given a mid-life update with a new dashboard that’s higher quality, more tech-filled and more practical, while thanks to the new MG 4 Urban above, just two models remain in the line-up: The Essence 64 and hi-po XPower. Pricing starts at $39,990 driveaway and the WLTP-rated range of 452km is quite reasonable for the money, too.

Geely EX5

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Price: From $41,990 plus on-road costs
Drivetrain: Front-mounted single motor, 160kW, 68.39kWh battery
Range (WLTP): 450km – 475km

While Geely is still a newcomer to Australian shores, products like the EX5 prove that it deserves success in our market because it’s a good all-rounder that’s excellent value for money. Prices start at $41,990 plus on-road costs for the entry-level Complete and the recently-enlarged battery gives up to 475km of range, with a 160kW electric motor providing ample performance. The EX5’s cabin is good quality and practical, and while the suspension is too soft, it’s still quite comfortable and easy to drive.