MG tops RACV list for cheapest EVs of 2023

Promotional image of the MG ZS EV parked in front of city backdrop (RACV)

RACV has revealed the MG ZS Excite Standard Range RWD Wagon as the cheapest electric vehicle (EV) to own and operate for the second year in a row.

Released as part of RACV’s Annual Car Running Costs Survey, the EV affordability data captures the overall cost of ownership, including factors such as purchase price, loan repayments, insurance, charging costs, tyres, servicing, repairs and auto club membership—averaged out over five years.

Rounding out the top three most affordable electric vehicles were the GWM Ora Standard Range Hatch and the BYD Atto 3 Standard Range Wagon.

RACV electric vehicle manager Liam Brady said the growing affordability of EVs was making them a more attractive option for new car buyers.

“For those looking to purchase an electric vehicle as their next car, there is reason to be excited as more models enter the market and competition for your dollar increases,” Brady said.

“The appeal of the MG ZS Excite electric vehicle is in its running costs. Based on an average of 15,000km driven over 12 months, an MG ZS Excite owner will pay just $1,216.56 in charging costs, compared to $1,992.96 paid by the non-electric MG3 Core owners for fuel.”

Related article: New EV guide ranks EVs by environmental impact

RACV is supporting the expansion of EV charging networks through its investments in leading Australian EV companies like Chargefox and JET Charge. RACV recently assumed ownership of a number of Victorian-based Chargefox fast charging stations.

Victoria’s cheapest electric vehicles (costs averaged out over five years with 15,000km driven per year)

Table of RACV's Cheapest EVs for 2023
Source: RACV
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