MG will drive the price of electric cars in Australia below $40,000 within two years.
The Chinese company has reaffirmed its ambitious plan to offer an all-new Corolla-sized battery-electric car that will serve as its technology flagship.
Based on its approach to the pricing of its new MG ZS EV launched today, which is priced from $40,990 plus on-road costs (or $43,990 drive-away) and now stands as Australia’s most affordable electric car, the newcomer could be in the $35,000 range – or even lower.
MG Australia managing director Peter Ciao revealed fresh details of the new electric city hatch at the launch of the ZS EV in Sydney.
“There will be a hatchback electric vehicle. It will be below $40,000,” he said.
“It will just be EV, and it will be Corolla-sized. Smaller like MG3.”
Ciao was deliberately vague on the timing for the vehicle, which will be built on a dedicated EV platform and will not be an electrified version of an existing model.
“It will be 2022 or 2023,” he said.
Ciao is a strong advocate for the electrification plan at MG, which is part of the giant SAIC conglomerate that is driving battery-electric development work in China.
“This is my main course. For MG, this is the future. Electrification means accessibility and affordability,” he said.
Ciao is confident MG Australia will sell more than its target of 3000 ZS EVs in 2021, but believes the forthcoming compact city car will be the vehicle that creates the critical mass for electrification.
“People will love electric vehicles, if they have the opportunity to drive them at a normal price,” he says.
“You can’t push people to have this product, but it’s an additional $20,000. You can’t do that.
“An EV car is totally different. You need to say it’s the same price, but a much better product.”