2023 MG4 detailed: Why it could be Australia's cheapest electric car and undercut the BYD Atto 3, MG ZS EV and others

MG has been one of the fastest rising brands in the Australian market in the past two years, and now it may have its next popular model - Australia’s cheapest electric car.

The brand is expected to add the all-new MG4 to its local line-up in early 2023, and now we have an idea what to expect thanks to the recent release of pricing in the right-hand drive UK market.

Over there it’s priced from £25,995, which converts to approximately $44,750 based on the exchange rate at the time of publication. However, these price conversions are never that simple as there are a variety of other charges that go into setting a retail price, including local taxes, shipping charges and specification.

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As an example, the updated MG ZS EV retails for £29,495 in the UK, which converts to approximately $51,000 here. However, the actual retail price in Australia is $46,990 (drive-away), which underlines the fluctuations between the different markets.

That also means there’s clearly scope for the MG4 to undercut the current cheapest electric car on sale in Australia, the just-launched BYD Atto 3 that’s priced from $44,381 (plus on-road costs). If MG can save a similar amount on the MG4 as it does the ZS EV it could mean the new model could start below $40,000, which would be a major breakthrough for electric cars in Australia.

Even at that price it’s likely the MG4 would still be well equipped, with even the entry-level model in the UK range equipped with a 10.2-inch multimedia touchscreen, Apple CarPlay, Android Auto and the MG Pilot suite of safety assistance systems. Higher grade models even come with a smartphone Bluetooth key, as well as navigation, heated front seats and steering wheel.

MG has built its success in the local market on affordably priced and value-led cars like the MG3 hatch and ZS SUV, so it’s likely it will continue that formula with its expanding line-up. Offering Australia’s most affordable electric car would be a boost for a brand that is already enjoying strong sales in 2022, it’s up 20.4 per cent year-to-date in July on the same period in 2021.

The MG4 is a crossover hatch powered by a single, rear-mounted electric motor that makes 125kW with a 51kWh battery good for a driving range of 350km. A bigger 64kWh boosts range to 450km range and power to 150kW.

A dual-motor, all-wheel drive version of the MG4 is expected to follow in the future but no details of that model, and whether it will make it to Australia, have been confirmed by MG.

The MG4 isn’t the only new electric model the Chinese brand is considering for its Australian expansion, with the Cyberster roadster reportedly under consideration. While it has been previewed as a concept car, the production version of the electric convertible hasn’t been unveiled yet. 

The company did release a teaser video on its social media channels in early August, with UK media indicating it will hit showrooms in 2024 to celebrate the originally-British brand’s centenary. The electric Mazda MX-5 rival would be a fitting celebration for the 100th anniversary given its reputation was built on compact sports cars before financial troubles and a change of ownership set it on its current path as a mainstream brand for Chinese giant, SAIC Motor.