Two Chinese car manufacturers have sparked an electric vehicle (EV) price war in Australia with their plans to roll out “the most affordable” electric car on the market this week.
On June 19, MG Motor, which Chinese automaker SAIC Motor owns, announced the release of an entry-level model for its MG4 electric SUV at $38,990 (US$26,500), a drop of $6,000 compared to the previous price.
This will be the first EV to be sold in Australia for under $40,000.
In comparison, the prices of EV models from other manufacturers often stay above $50,000, with the most popular EV, Tesla Model Y, costing over $68,000.
MG Motor Australia CEO Peter Ciao said his company’s move was to facilitate the adoption of EVs among Australians under current challenging economic conditions….