Meet the new cheapest electric car in Australia: Huge $10,000 price cut for 2024 MG4 to massively undercut the BYD Dolphin, GWM Ora plus incoming Hyundai Inster and Kia EV3

The electric car price war might be coming to an end, and MG has won.

The Chinese brand has ripped about $10,000 off the price of its cheapest MG4 electric car with a new national drive-away price of $30,990. This represents a drop of about 25 per cent for the MG4 51 Excite.

It now significantly undercuts key rivals the GWM Ora ($35,990 drive-away) and the BYD Dolphin ($36,890 before on-road costs).

Not only is the MG4 Excite 51 the cheapest electric car in Australia, it is one of the cheapest small cars on sale full stop.

Most petrol and hybrid cars are more expensive than the reduced price MG4 51 Excite.

A Toyota Corolla Hybrid starts at about $36,000 and the cheapest Mazda3 starts at $32,990 drive-away — it even gets close to the brand's cut-price hybrid, the MG 3 Essence ($30,490 drive-away in Vic).

Only the base Kia Cerato and MG4’s stablemate the MG5 are priced lower.

The red-hot discount only applies to the base model.

Belcher also said the brand was offering a factory bonus worth up to $8000 on all other MG4 grades, including the potent Xpower version.

These sale offers follow the recent announcement of MG guaranteeing its cars with a 10 year/250,000km warranty.

MG Motor Australia’s Chief Commercial Officer, Giles Belcher, said the brand was committed to offering great value.

“We know that people may have been considering an EV but potentially have held off due to the cost now with this limited time offer we’re giving everyone the opportunity to own an MG4," he said.

The base MG4 51 Excite uses a 51kWh battery that provides a driving range of up to 350km via the more stringent WLTP test cycle.

Longer legged versions have either a 64 or 77kWh battery that delivers a driving range of between 435 and 530km depending on the exact variant.

The entry-level model is slower to charge and can accept a max charge rate of 88kW compared to the more expensive variants’ circa-140kW maximum.

It is a fairly bare bones proposition, owners will make do with cloth seats but still get a synthetic leather wrapped steering wheel.

It misses out on some safety tech such as a bird’s eye view camera, blind spot detection, rear cross traffic alert and emergency lane keep assist found in pricier versions.

The MG4 is having a stellar performance in its first full year of sales with more than 3300 vehicles finding a home through the first eight months of this year.

It easily outsells rivals such as the BYD Dolphin and GWM Ora but falls behind bigger and more expensive electric cars such as the BYD Atto3 and Seal and the Tesla Model Y and Model 3.

MY23 VARIANT	MY23	MY24
MG4 Excite 51	$30,990 DA	$30,990 DA
MG4 Excite 64	$8,000 factory bonus	$5,000 factory bonus
MG4 Essence 64	$8,000 factory bonus	$5,000 factory bonus
MG4 77kWh LR	$8,000 factory bonus	$5,000 factory bonus
MG4 X-Power	$8,000 factory bonus	$5,000 factory bonus