Upgraded MG ZS EV scores last-minute price cut

MG Motor Australia has pulled a UNO reverse card on pricing for the updated 2022 MG ZS EV, which it previously announced would start from $46,990 drive-away – $2000 more than the model it replaces and $3000 more than its original 2020 launch price of $43,990 drive-away.

Announced at the facelifted MG ZS EV’s national media launch today in Sydney, the last-minute price drop – which will now see it return to its previous starting price of $44,990 drive-away, or $43,990 plus on-road costs – is a clear attack on another all-new small Chinese electric SUV, the BYD Atto 3, which is priced from $44,381 plus ORCs.

Marking the availability of two trim grades for the first time, the upgraded MG ZS EV Excite opens proceedings from $43,990 plus ORCs or $44,990 drive-away, while the top-spec Essence is priced from $47,990 plus ORCs or $48,990 drive-away.

Both variants bring a bigger battery and a longer 320km claimed range, but the latter gets more safety and tech features including blind spot monitoring and rear traffic alert – both of which were previously standard on the sole MG ZS EV Excite.

At this stage it’s unclear whether the removal of these safety features from the entry variant will affect the MG ZS EV line-up’s five-star ANCAP rating, which itself dates back to 2019 – before the independent safety body’s stricter testing and scoring regime came into force in 2020.

It’s also unclear whether MG will honour the lower prices for customers who pre-ordered the upgraded MG ZS EV after the higher $46,990 (Excite) and $49,990 (Essence) prices were announced earlier this year, when it also offered a $500 rebate on an MG ChargeHub wallbox to customers placing a deposit.

Either way, the new pricing means the range-opening MG ZS EV Excite officially undercuts BYD’s cheapest Atto 3 Standard Range variant in terms of list pricing (before any on-road costs are considered).

But the base BYD Atto 3 remains the cheaper vehicle when it comes to drive-away pricing and once state EV subsidies are factories in – at least for Tasmanians, albeit only by around $10. Click here for our state-by-state examination of which model is Australia’s cheapest electric car.

Speaking to carsales at the launch of the facelifted ZS EV this week, MG Motor Australia chief Peter Ciao said business costs had decreased since the higher prices were announced for the model in March.

“Before, when we defined the pre-sale price, I imagined lots of challenges for business – running costs, international logistics and micro-chips,” he said.

“For many materials, in that moment, the price increase was ridiculous. But fortunately [in] the past half year some prices have [stabilised].

“Before I defined the price I had some buffer, so for me it’s okay. I try my best to give the customer the best offer.”