Best Electric Cars Under $40,000 in Australia

As manufacturers rush to add their own electric vehicles to the market and try to get one up on their rivals, consumers are the ultimate winners when it comes to this fierce price competition.

If you’re looking for your best electric vehicle options on a reasonably tight budget, join us as we take a look at Australia’s top 11 electric cars priced under $40k, including some newcomers hitting the market in late 2025 and early '26.

BYD Atto 1

The BYD Atto 1 is the company's smallest and most compact electric vehicle to date, a package set to make a huge dent in the wider EV sales tally thanks to its extremely competitive pricing.

It slips into BYD's ever-growing electrified stables at the very base of the lineup, designed as the smallest, most affordable and therefore most accessible electric vehicle in its ranks.

Considering the fact it slides into the BYD lineup below the Dolphin, already one of Australia's cheapest electric cars on sale, the Atto 1 will more than likely take the title of the cheapest electric vehicle you can buy in 2025 and beyond.

• Price: TBC (expected around $25,000)

• Battery Size: 30 - 39kWh

• Battery Chemistry: LFP

• Range: 220 - 321km

• Boot: 230 - 900L

• Infotainment Size: 10.1-inches with wireless Apple CarPlay & Android Auto

• Warranty: Six-year/150,000km vehicle, eight-year/160,000km battery warranty

• ANCAP Safety Rating: Unrated

BYD Dolphin

The BYD Dolphin has been one of Australia's most affordable electric hatchbacks for years now and, in its latest form, continues to impress with the help of a styling makeover, updated safety equipment and some much-needed faster DC charging tech underneath.

• Price: $29,000 + ORC

• Battery Size: 45 - 60.5kWh

• Battery Chemistry: LFP

• Range: 420 - 520km

• Boot: 345 - 1,130L

• Infotainment Size: 12.8-inches with wireless Apple CarPlay & Android Auto

• Warranty: Six-year/150,000km vehicle, eight-year/160,000km battery warranty

• ANCAP Safety Rating: Five-star (tested 2023)

GWM Ora

The fun-loving GWM Ora remains another great option at the more affordable end of the electric vehicle segment, offering a solid technology suite and charming styling package inside and out.

It’s also far more practical than you'd give it credit for when looking from the outside, with excellent on-road manners that make it super easy to drive, making it a one-stop shop for electric hatch buyers looking to tackle the urban jungle.

• Price: $35,990 (drive-away)

• Battery Size: 45.4 - 59.3kWh

• Battery Chemistry: LFP

• Range: 310 - 420km

• Boot: 228 - 858L

• Infotainment Size: 10.5-inches with wired Apple CarPlay & Android Auto

• Warranty: Seven-year/unlimited km vehicle, eight-year/unlimited km battery warranty

• ANCAP Safety Rating: Five-star (tested 2022)

BYD Atto 2

The BYD Atto 2 is yet another new model from the EV giant touching down on Australian shores in the latter stages of 2025.

While the company is yet to confirm pricing, the Atto 2 is set to make a big splash in the battery-electric compact SUV segment thanks to its lengthy equipment lists and super practical cabin layout.

• Price: TBC (expected around $35,000)

• Battery Size: 51.13kWh

• Battery Chemistry: LFP

• Range: 420km

• Boot: 400 - 1,340L

• Infotainment Size: 10.1 - 12.8-inches with wireless Apple CarPlay & Android Auto

• Warranty: Six-year/150,000km vehicle, eight-year/160,000km battery warranty

• ANCAP Safety Rating: Unrated

Chery E5

Chery's addition of a small, battery-electric SUV package with an affordable price tag to its ranks certainly gives buyers some serious food for thought.

The Chery E5 offers up to 430km worth of range from its 61kWh battery pack while continuing to tick boxes inside the cabin, with a lengthy equipment list and long warranty coverage sweetening the deal for buyers.

• Price: $36,990 + ORC

• Battery Size: 61.1kWh

• Battery Chemistry: LFP

• Range: 430km

• Boot: 300 - 1,079L

• Infotainment Size: 12.3-inches with wireless Apple CarPlay & Android Auto

• Warranty: Seven-year/unlimited km vehicle, eight-year/unlimited km battery warranty

• ANCAP Safety Rating: Five-star (tested 2022)

Leapmotor B10

The Leapmotor B10 hits the road in the latter stages of 2025 with some extremely sharp pricing that make it one of the best value picks in the electric SUV segment.

Much like its bigger sibling, the C10, Leapmotor’s interior designs maximise practicality inside the cabin for its relatively pint-sized footprint, making it surprisingly family-friendly and hard to ignore if you’re on a tight budget thanks to the long warranty and Leapmotor's generous approach to features.

• Price: $38,990 + ORC

• Battery Size: 56.2 - 67.1kWh

• Battery Chemistry: LFP

• Range: 442 - 516km

• Boot: 430 - 1,700L

• Infotainment Size: 14.6-inches with wireless Apple CarPlay & Android Auto

• Warranty: Seven-year/160,000 km vehicle, eight-year/160,000 km battery warranty

• ANCAP Safety Rating: Unrated

MG 4

There's a lot to like about the MG 4 range, especially considering just how wide-sprawling the lineup currently is.

With everything from a sharply-priced base model, standard and long range versions, as well as a lightning-fast X-Power performance flagship version, there’s so much variety for different buyers, while the MG 4's cabin provides more than enough space to keep it competitive with its electric SUV counterparts.

• Price: $37,990 - $55,990

• Battery Size: 51 - 64 - 77kWh

• Battery Chemistry: LFP & NMC

• Range: 350 - 450 - 530km

• Boot Space: 363 - 1,177L

• Infotainment Size: 10.25-inches with wired Apple CarPlay & Android Auto

• Warranty: Ten-year/250,000 kilometre

• ANCAP Safety Rating: Five-star (tested 2022)

Hyundai Inster

The Hyundai Inster is a charismatic little battery-electric hatchback-cross-compact SUV platform that excels around the tight confines of the urban jungle and offers far more space than you'd expect for such a minute footprint.

The Inster is offered with two sizes of battery pack and provides outstanding handling and user-friendly manners behind the wheel, a surprisingly adult-friendly four-seater cabin and just ooozes charm in the affordable EV space.

• Price: $39,990 + ORC

• Battery Size: 42kWh

• Battery Chemistry: NMC

• Range: 327 - 360km

• Boot Space: 351L

• Infotainment Size: 10.25-inches with wireless Apple CarPlay & Android Auto

• Warranty: Seven-year/unlimited km vehicle, eight-year/160,000km battery warranty

• ANCAP Safety Rating: Four-star (tested 2025)

BYD Atto 3

The BYD Atto 3 has enjoyed one of the longest sales careers in the affordable electric vehicle space.

The Atto 3 range has had its value-centric appeal further bolstered with the introduction of a new entry-level version that continues to impress on the features front, even in its most affordable trim level.

• Price: $39,990

• Battery Size: 49 - 60kWh

• Battery Chemistry: LFP

• Range: 345 - 420km

• Boot Space: 440 - 1,340L

• Infotainment Size: 12.8-inches with wireless Apple CarPlay & Android Auto

• Warranty: Six-year/150,000km vehicle, eight-year/160,000km battery warranty

• ANCAP Safety Rating: Five-star (tested 2022)

MG S5 EV

MG's battery-electric midsize SUV package, the S5 EV, is one of the most attractive options in the more family-friendly midsize SUV space.

The S5 EV is a well-mannered, easy-to-drive package with an excellent interior design that maximises space and practicality, proving itself a very family-friendly offering in the affordable electric midsize SUV space.

• Price: $40,490 (drive-away)

• Battery Size: 49 - 62kWh

• Battery Chemistry: LFP

• Range: 335 - 425km

• Boot Space: 453L

• Infotainment Size: 12.8-inches with wireless Apple CarPlay & Android Auto

• Warranty: Ten-year/250,000 kilometre conditional warranty

• ANCAP Safety Rating: Five-star (tested 2025)

Geely EX5

Our list wraps up with the Geely EX5, a midsize electric SUV that commands serious attention if you're after maximum bang for your buck when it comes to equipment levels for the price.

With a sharply-priced base model, smooth on-road manners and a spacious second row, the EX5 stacks up as a bit of a bargain in the fully electric medium SUV segment.

• Price: $40,990 + ORC

• Battery Size: 60.22kWh

• Battery Chemistry: LFP

• Range: 410 - 430km

• Boot Space: 410 - 1,877L

• Infotainment Size: 15.8-inches, no Android Auto or Apple CarPlay support, for now

• Warranty: Seven-year/unlimited km vehicle, eight-year/unlimited km battery warranty

• ANCAP Safety Rating: Five-star (tested 2025)

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