This is the moment the car industry has been waiting for – electric cars have reached parity with petrol-powered cars.
BYD has released pricing details for its new Atto 1 and Atto 2 small cars, and the entry-level model is now not only the cheapest electric vehicle (EV) it is amongst the most-affordable new cars in the market.
Starting at just $23,990 for the Atto 1 Essential, that puts it in the same price region as some of the cheapest cars in Australia, including the Kia Picanto, Chery Tiggo 4 Pro and Suzuki Swift. However, BYD hasn’t included on-road costs, whereas those other models are offered with those included as drive-away deals, undercutting the Atto 1.
Even at that price, the Atto 1 Essential is by far the most affordable EV ever offered in Australia and will open up the electric car market to new buyers. This has the potential to re-shape the entire industry over time, as it gives BYD a chance to capture customers when they buy their first new car, and likely their first EV, and gives them a better chance to keep them in the brand for the long-term.
This is the tactic that car companies have used for decades, most successfully by the Japanese brands, Toyota and Mazda, and more recently the South Korean Hyundai and Kia. But as those brands became more established prices have risen across their respective line-ups.
Toyota’s most-affordable new passenger car is the $28,990 (plus on-road costs) Yaris city car, while the cheapest Hyundai is the $25,990 drive-away Venue compact SUV.
BYD is directly targeting these types of cars with its new two-pronged small car approach. The brand has also confirmed there will be more models and different trim lines for both.
The Atto 1 Premium will be priced from $27,990 (plus on-roads), which should still make it amongst the most affordable EVs on sale, and one of the cheapest cars in its class.
The Atto 1 Essential is powered by a 65kW/175Nm front-wheel drive electric motor, with a 30kWh battery providing 220km of claimed driving range. The Atto 1 Premium will boast 115kW/220Nm and a 310km range thanks to its 43.2kWh battery.
The Atto 2 range will start at $31,990 for the Dynamic and $35,990 for the Premium. Both will be powered by the same 130kW/290Nm electric motor with a 51.3kWh battery providing a claimed range of 345km.
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