MG announces £1,500 EV discount on MG4 and MGS5
MG has announced that it will cut the price of its award-winning MG4 and MGS5 EVs for private buyers, in light of the UK Government’s delay in announcing whether Chinese carmakers will benefit from its recently-announced EV Grant.
The EV Grant offers up to £3,750 off of the price of a new EV costing less than £37,000. However, manufacturers need to meet certain criteria such as the cleaniness of the power grid where the vehicle and its battery are produced.
Carmakers must also be signed up to the Science Based Targets Initiative for carbon emissions reduction. Neither MG nor its parent company, Chinese automotive giant SAIC, are.
To get a jump on the government, MG has introduced a £1,500 discount on its MG4 hatchback and MGS5 estate. Following its launch in 2022, the MG4 has scooped a total of nine awards including ‘Car of the Year’ and ‘Bargain of the Year’. The 429bhp MG4 Xpower also qualifies for the MG EV discount. Meanwhile, the MGS5 has previously been named the ‘Best-Value EV’ and ‘Best Used Electric Estate Car’.
When the £1,500 MG EV discount is applied, the standard MG4 is priced from £25,495 while the high performance version comes in at £34,995. The MGS5 will now cost £26,995.
Following the price cut, Guy Pigounakis, the MG UK commercial director, commented: “MG has been a key contributor to the EV sector, consistently recognising the economic and environmental benefits of introducing a wide range of affordable, electric-only models.
“Today’s announcement underlines this commitment and in addition to this, we will also seek to work constructively with the Government to further increase the sale of EVs.”
By announcing its £1,500 discount, MG has joined other Chinese owned manufacturers including Leapmotor and GWM, who have also done the same to get ahead of the government. Leapmotor is offering £3,750 off of its C10 SUV and T03 city car. Meanwhile, GWM has cutt the price of its Ora hatchback by £3,750.
