Electric vehicle (EV) supply, variety and competition are increasing while prices are coming down.

The increased scale of production, improved supply chains post-COVID and better battery technologies are leading to more affordable EVs with better range and charging capabilities.

In recent weeks we have seen two EV manufacturers make big price cuts.

Tesla has cut the price on all of its Model 3 and Model Y variants in Australia by at least $3,900.

This has bought the starting price of a rear-wheel drive standard-range Model 3 down to $57,400 before on-road costs.

The price reduction also means that a base Model Y now falls below the $68,000 government rebate threshold, now priced from $65,400.

Other variants of Teslas include the Model 3 Long Range down to $70,400, and the Performance down to $83,400, a $4,615 drop.

The Model Y Long Range is discounted by $3,900 to $78,400 and the Performance gets a $7,015 discount, down to $92,020.

The latest report from Tesla shipment tracking expert, VedaPrime, indicated there were more than 10,000 Teslas allocated to Australian buyers this quarter.

Great Wall Motors has also announced a price cut for its Ora electric hatch, slashing the price by $4,500.

This lowers the starting price of the Ora to $39,990 and makes it Australia’s third-cheapest EV behind the $38,890 BYD Dolphin and the $38,990 MG4 (before on-road costs).

GWM will offer the Ora Extended Range from $45,990 (plus on-road costs), Ultra from $48,990 and GT from $51,990.

As more electric cars make their way to Australia in the coming year, the EV market will become even more competitive.

List of more affordable and popular electric cars:

Roadside Assistance for EVs