MG aims for luxury territory with its IM5 and IM6 electric cars to rival everything from the Tesla Model Y to the BMW i4 - but the price-tags might surprise you!

MG has finally revealed pricing for its incoming range of luxury electric cars from its IM division.

The sub brand, dubbed IM Presented by MG Motor, launches with two models based on the same underpinnings in much the same fashion as the Tesla Model 3 and Model Y.

The IM5 is a sedan, while the IM6 is its SUV relation, and both are aimed at the luxury market with plush interior trims, large multimedia displays, and features like rear-wheel steering and an 800-volt electrical architecture (for the top two variants).

Driving range reaches up to 655km (on the more accurate WLTP cycle) for the aerodynamic IM5, while the IM6 SUV can travel up to 555km in the same trim level. Both can be charged from 30 - 80 per cent in a claimed 15 minutes.

The pricing though is the headline figure, with both cars sharing the same pricing and variant structure, split across three trim levels at a highly competitive price point with equivalent rivals.

The base IM5 and IM6 Premium cost $60,990 drive-away and are rear-wheel drive with a 75kWh battery pack good for a WLTP range of either 490km for the IM5 or 450km for the IM6, although it is rated to 400 volts and can charge at a maximum rate of 153kW on a DC charger. It is equipped with a 217kW rear electric motor allowing a 0-100km/h sprint time of 6.8 seconds for both body styles. 

The mid-spec Platinum versions are priced at $69,990 and have a 100kWh battery for ranges of 655km for the IM5 or 555km for the IM6. This battery is rated to 800 volts and can charge at a maximum speed of 396kW on a compatible charger. The rear motor output is also upped to 300kW for a 0-100km/h sprint time of 4.9 seconds for the IM5 or 5.4 seconds for the IM6.

The top-spec Performance wears a price-tag of $80,990. It is also equipped with the 800-volt 100kWh battery, although it adds all-wheel drive which consists of a 372kW rear motor and a 200kW front motor for a 0-100km/h sprint time of 3.2 seconds for the IM5 or 3.4 seconds for IM6. Its driving range is reduced to 575km for the IM5 or 505km for the IM6.

Other features include one-touch automatic parking capable of adjusting to multiple parking situations, as well as compatibility with MG’s iSMART phone application which allows the owner to remotely control a slew of the vehicle's features.

Inside the IM5 and IM6 both score an enormous 26.3-inch multimedia touchscreen and 10.5-inch digital instrument cluster, a panoramic sunroof, and a 20-speaker premium audio system.

The base Premium comes equipped with 19-inch alloys, while the Platinum and Performance have 20-inch alloy wheels. The IM5 and IM6 is available in five exterior colours (white, beige, grey, blue or black) and two interior schemes (beige or grey). The interior can be further customised with a range of accessories which are secured by a magnet mounting system.

IM is a triumvirate joint-venture founded in 2020 in China between MG's SAIC Motor parent company, Zhangjiang Hi-Tech, and Alibaba Group. Its luxury positioning will place it in direct competition with other EV-focused Chinese luxury newcomer brands like Geely's Zeekr and BYD's Denza in an increasingly busy Australian new-car market.

The pricing of the IM range is slightly higher than that of the basic trims of the Tesla Model 3 and Model Y, although higher-grade versions are more affordable.

MG covers the IM range with a seven-year and unlimited kilometre warranty. The IM5 and IM6 can be ordered now, with first customer deliveries estimated in September.

2026 IM5 and IM6 pricing (drive-away)

	IM5	IM6
Premium	$60,990	$60,990
Platinum	$69,990	$69,990
Performance	$80,990	$80,990