Electric car costs: the price of ownership in 2025

When it comes to buying an EV, price is often a key consideration. To help you get a feel of what to expect, we’ve pulled together a summary of average prices and some of the cheapest models, which are correct at the time of publishing. Keep in mind, these prices don’t include on-road costs and may be subject to change.  

Before we get into pricing, one thing to be aware of is the distinction between battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). BEVs are fully electric cars, while PHEVs combine a petrol engine with an electric motor to provide a greater driving range. 

Fully electric cars can be priced anywhere between $30,000 for a zippy hatchback and $100,000 for an SUV or people mover. PHEVs generally come with a higher price tag, starting around $50,000. 

The overall price of an EV is generally determined by:

• Range: how far the car can travel on one charge

• Battery chemistry: which influences the energy density, charge time and lifespan

• Safety packs: features that assist a driver, such as blind-spot motoring and lane assist

• Model features: seat fabrication, types of wheels, weight of the car and more.

If you’re concerned whether the upfront price is worth it, according to some comparisons, the expected payback period for EVs can fall between 6 and 8.5 years, but this can be influenced by a range of factors including available incentives, fuel prices, electricity prices and more. 

If you’re on the hunt for the most affordable fully-electric cars, you’ll likely be setting your sights on brands like GWM, MG, BYD, and Abarth (a subsidiary brand of Fiat). 

Compact and agile, the GWM Ora in white from the standard range has a driveaway price of $33,990. Perfect for city driving, it features a 126kW electric motor, 18” alloy wheels, 310km range and 360-degree camera system. 

Looking for a car at the forefront of innovation? Consider the MG4 Excite 51. With a driveaway price of $41,163, it starts with a range of 350km (you can add extra, if you wish), a 10:25” touch screen, and MG Pilot safety features. Oh, and you can get it in eye-catching ‘volcano orange’ for no extra charge, which is pretty neat.

After more power? Look to the ATTO 3 Essential from BYD, with a starting price of $42,434. This front-wheel drive has a 410km range, 17” alloy wheels, and is packed with safety features too.

Explore, compare and shop around for the best deals, just as you would with an internal combustion engine vehicle. There are far more brands and options available now than there used to be.  

Each Aussie state and territory has its own set of policies for incentives that can help make EV ownership more affordable. For more information, check out the links below: 

• Australian Capital Territory 

• New South Wales 

• Northern Territory 

• Queensland 

• South Australia 

• Tasmania 

• Victoria 

• Western Australia 

Is it really cheaper to charge an EV than it is to top up the tank of a combustion engine vehicle? Generally, yes, but like most things, it can fluctuate. 

If you’ve got a total solar setup at home — we’re talking solar panels and a battery — it could cost you next to nothing to top up your car, because you can exclusively use solar power to charge it. But naturally, the sun isn’t always shining. A string of overcast days might mean charging off the grid, or heading to the local charging station instead, and that’s where pricing can vary. 

Whether you’re charging your car at home or at a public station, the first thing to understand is that charging costs are based on kWh (short for kilowatt-hour). This means that depending on the network provider (e.g. PlugShare, Tesla, Chargefox) and the type of charger being used (direct current or alternating current), you could pay more or less. According to the NSW Government, public fast charging prices can range between 40c to 85c per kWh, but this is determined by the market.

It’s difficult to give a specific dollar amount here, as many different factors come into play, such as: 

• your electricity rates 

• whether you charge at peak or off-peak times 

• if you have a solar energy system installed; and 

• the type of charger you use. 

For example, did you know that EVs can be charged using a standard electrical power point? This method of charging is referred to as ‘Level 1’ charging. It allows EV owners to top up their car’s charge right in their garage or driveway, without needing to professionally install an EV charging unit. That being said, it’s a slower charging option, so most owners do typically have an electrician install a faster charging unit for more efficient charging. 

With all that in mind, we suggest heading to the Green Vehicle Guide - Home Charging Calculator to calculate the time and cost of charging your vehicle at home. This can provide you with a more tailored estimate.  

Because battery-operated electric vehicles have fewer parts than cars with an internal combustion engine, maintenance costs are typically lower. For example, with a BEV, there’s no need to change auxiliary fluids, like engine oil. According to the Electric Vehicle Council, some EV owners can save between $300-400 every year in maintenance costs compared to an equivalent combustion engine vehicle.  

Hopefully this gives you some insight into the costs associated with EV ownership, but this is just the beginning of your EV journey. For more information, check out the following resources:

• Owning your first EV – Electric Vehicle Council

• Electric vehicles – Green Vehicle Guide

• Total cost of ownership – Transport for NSW

• Changing Gears - NRMA Insurance