How low can BYD go? Forget Tesla, Chinese electric car prices are tumbling as 2023 BYD Dolphin, GWM Ora and MG4 battle for title of Australia's cheapest EV

The days of sky-high prices for electric vehicles seem finally behind us, as Chinese brands MG and BYD engage in a heated battle to claim the title of Australia's cheapest EV.

It was advantage MG this week, with the brand confirming an entry-level price of just $38,990 before on-road costs for the cheapest version of its incoming MG4, which will launch on July 1.

That price tag is attached to the MG4 Excite 51, so named because of its 51kWh battery which should deliver a driving range of around 350kms. It's fitted with a single electric motor that, in its international specification, produces 125kW and 250Nm.

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Clearly designed as an entry-level city EV, the cheapest MG4's range would still be more than enough to require just weekly charging for most people, with the average driving distance in Australia just 34km a day, according to the Australian Bureau of Statistics.

The MG4 undercuts fellow Chinese brand GWM's Ora, which will list at $43,990 (BOC) for its own entry-level model, which is fitted with a slightly smaller 48kWh battery which delivers a claimed range of 320km.

Again, it's a single-motor proposition, delivering 126kW and 250Nm, and you get plenty of premium-feeling equipment, including 18-inch alloy wheels, dual 10.25-inch screens, Android Auto and Apple CarPlay and a leather-look interior.

But the ball is now squarely in BYD's court, with the brand behind the wildly popular Atto 3 now just days away from confirming pricing for its incoming Dolphin (which will be revealed in full at SeaWorld on the Gold Coast, naturally).

The base grade of the MG4 will wear a price tag of just ,990 before on-road costs.

While the brand is yet to confirm specifics, its Australian importer Luke Todd has made a bold pricing promise which should turn into very good news for those in the market for a cut-price EV.

In short, Todd wants the title of Australia's cheapest EV, and he's promising the Dolphin will deliver it.

The Dolphin, he says, will be "the most affordable, high-quality EV in Australia", suggesting it will undercut the MG4 to start somewhere in the mid-$30k range.

GWM's Ora will list at ,990 (BOC) for its own entry-level model.

If the Dolphin in Australia is to mirror New Zealand's specification, you can expect the entry-level model to be equipped with a 44.9kWh battery, good for a driving range of around 340kms, and a single electric motor producing 70kW.

How low can BYD go? We'll know in a day or two. But one thing is certain, there has never been a better time to be in the market for an affordable EV, with prices tumbling and brands taking the mantle of 'Australia's cheapest' seriously.

For now, though, watch this space.