Australia’s Cheapest New Car Is Now Electric: What the BYD Atto 1 Means for EV Drivers
An electric vehicle has reached the bottom of Australia’s new-car price market for the first time. Here’s why the BYD Atto 1’s price point matters, and how novated leasing is helping lead the EV affordability conversation.
For years, the price of electric cars put them out of reach for many Australians.
Today, that conversation is starting to look very different with the first EV to retail for under $20,000. The BYD Atto 1 Essential is now available from $19,990 drive-away under a limited-time offer scheduled to end on 15 December 2026, unless extended by BYD.
Incredibly, the Atto 1 Essential is also Australia’s lowest-priced new car, matching the promotional drive-away price of the petrol-powered MG 3 Vibe and undercutting other entry-level petrol models.
It signals that EVs are no longer confined to the premium end of the market, giving everyday Australians another reason to consider making the switch to electric when considering price, features and running costs.
BYD Atto 1 Essential at a glance
A new price point for electric driving
Pitched to city drivers, the Atto 1 Essential combines its new entry price with a 30kWh lithium iron phosphate battery, an estimated range of 220km and a suite of standard safety and connectivity features.
In a press release, BYD Australia chief operating officer Stephen Collins said the offer reflected the company’s focus on affordability: “At a time when Australian families are carefully considering every household expense, we’re committed to making vehicle ownership more attainable.”
Price is only one part of the decision, of course. Finance, charging, insurance, registration, servicing, tyres, expected kilometres and how long you plan to keep the car can all affect the overall cost of driving.
But a new EV at this price makes that comparison more accessible to a much broader group of Australians.
Why BYD is connecting with Australian drivers
BYD’s Australian range has expanded quickly across electric and plug-in hybrid vehicles, with models spanning hatchbacks, SUVs and utes.
Its combination of technology, practical features and competitive pricing has helped make the brand an increasingly familiar choice for Australians considering an EV.
Novated leasing is impacting EV sales
Novated leasing and the government’s EV Discount are also major drivers of electric-car popularity in Australia, with sales growing from around 3% when the government policy was introduced in 2022, to an estimated 25% of all new car sales in 2026.
For Maxxia, one of Australia’s leading novated leasing providers and a leading novated leasing partner for BYD, says the milestone underlines that electric vehicles have hit the mainstream.
“The arrival of an EV at the very bottom of the new-car market is an important moment for Australian motorists. It challenges the idea that switching to electric must come with a premium price tag,” says Stephen Brown, General Manager of Novated Sales at Maxxia.
Novated leasing can add another layer of value by allowing lease payments and running costs to be managed through regular payroll deductions using before-tax dollars, which can deliver significant tax savings as well as budget convenience.
Brown adds: “As EV choice expands across more price points, Maxxia is here to help customers understand their options, compare the costs and make a confident and informed decision.”
Ready to explore electric?
View Maxxia’s latest vehicle offers or use our novated lease calculator to estimate the potential costs and savings.
Terms and conditions
*All eligible vehicles must be ordered before 30/09/2026 (unless extended), or while stocks last. Displayed price is only available through a novated lease administered by Maxxia. Weekly costs have been determined based on the following assumptions: 1) The lease is a Maxxia fully maintained lease, 2) a 5 year term, 3) a residual value of 28.13% of the vehicle purchase price payable at the end of term, 4) Inclusion of finance and budgeted costs for: fuel or electricity, 8 replacement tyres, maintenance, roadside assistance, registration, CTP and comprehensive insurance, 5) Gross annual salary is $90,000 6) Vehicle purchased in VIC, 7) 15,000km per annum, 8) Salary Sacrifice using Employee Contribution Method (ECM) or Fringe Benefits Tax Exempt Method. The Fringe Benefits Tax Exempt Method is only used for eligible electric vehicles under the luxury car tax threshold of $91,661. The indicative price quoted for the novated lease is based on vehicle quotations Maxxia has received within the last 45 days and does not include any optional extras. Any optional extras that you choose will affect the cost of the novated lease and residual value. If you purchase the vehicle on termination of the novated lease, GST will apply on the purchase price you pay at that time. The novated lease offer is based on the assumption outlined above, and is an indicative cost approximation of the selected vehicle and model shown and the amounts may change at the time the novated lease quotation is completed and finalised. Your individual circumstances have not been taken into account as this will affect the overall weekly cost amount and the benefits of a novated lease. These specials cannot be used in conjunction with any other offer.
^Savings shown are indicative and reflect estimated tax savings over the full-term of the lease. The total amount saved is a comparison between a novated lease based on the assumption outlined above and the purchase of a vehicle and payment of running and maintenance costs using post-tax earnings. Actual savings will depend on your personal circumstances.
#Please note that stock levels vary from time-to-time and so certain vehicles may not be available at the time of enquiry.
+For full terms and conditions please refer to maxxia.com.au/pricebeat
**GST savings may apply to the purchase price of a vehicle financed through a novated lease up to the annual car limit ($6,353 for FY2026-27), unless the vehicle is GST-exempt.
Things you need to know: This general information doesn't take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax or financial advice. Conditions and fees apply, and you should consider if they are acceptable before you accept any arrangements with Maxxia, along with credit assessment criteria for lease and loan products. The availability of benefits is subject to your employer’s approval. Maxxia may pay and/or receive commissions in connection with its services.
Actual vehicle price is based on specific vehicle and accessories, prices and savings may vary based on additional options selected with vehicle. Maxxia does not act as your agent or representative in respect of the purchase of any vehicle. Maxxia does not provide any advice or recommendations in relation to the purchase of any vehicle.
Maxxia Pty Ltd | ABN 39 082 449 036
BYD Discount Terms & Conditions
"Drive Away Offer” – Free on-road costs terms & conditions
Offer available on new BYS SEALION 8 Dynamic FWD, SEALION 7 Premium & SHARK 6 Premium vehicles.
Promotional Driveaway pricing applies as follows:
- SEALION 8 Dynamic FWD: Free On-Road Costs, from $56,990 Driveaway
- SEALION 7 Premium: Free On-Road Costs, from $54,990 Driveaway
- SHARK 6 Premium: Free On-Road Costs, from $57,900 Driveaway
- Metallic paint is available at an additional cost.
Eligible period:
- Orders between 1 August 2026 and 30 September 2026. Delivered by 31 October 2026
- Where an eligible vehicle is ordered during the campaign period, but delivery is delayed beyond the 3 October 2026 due to circumstances beyond the customers reasonable control, BYD Automotive will honour the promotional pricing upon.
The following customers are not eligible to receive the Driveaway Pricing Offer:
- Demonstrator Vehicles
- Any transaction involving additional promotional offers or discounts
MMS BYD No Application Fee Terms and conditions
MMS BYD No Application Fee Promotion
Promoter
This promotion is conducted by Maxxia Pty Ltd
1. Offer
Eligible customers who place an order for an eligible new BYD or Denza vehicle during the Promotion Period and apply for a new novated lease through Maxxia will receive a waiver of the standard novated lease application fee ("Offer").
The value of the Offer is equal to the applicable Maxxia application fee that would otherwise be charged in connection with establishing the novated lease.
The application fee will not be charged in connection with the establishment of the eligible novated lease.
2. Promotion Period
The Offer is available for eligible vehicles ordered between 1 September 2026 and 31 October 2026 inclusive ("Promotion Period").
3. Eligibility
To be eligible for the Offer, customers must:
- be Australian residents aged 18 years or over;
- be eligible for and enter into a new novated lease through Maxxia.
- place an order for an eligible new BYD or Denza vehicle between 1 September 2026 and 31 October 2026 inclusive;
- satisfy all novated lease eligibility requirements, including employer participation requirements where applicable;
- receive approval for the novated lease application.
4. Eligible Vehicles
The Offer applies only to:
- new BYD and Denza vehicles specified by Maxxia, as eligible for the promotion;
- vehicles sourced through Harmony Auto and Glory EV Group dealerships or channels approved by Maxxia.
Unless otherwise advised by Maxxia, demonstrator vehicles, used vehicles and commercial fleet purchases are excluded.
5. Exclusions
The Offer is not available:
- on existing novated leases;
- for lease refinances, restructures or transfers;
- on cancelled orders;
- where the customer is not approved for a novated lease;
- where required documentation is not completed;
- to fleet, government or corporate purchasing arrangements unless expressly approved by Maxxia
6. Offer Conditions
The Offer:
- is not transferable, refundable or redeemable for cash;
- cannot be substituted for any other benefit;
- applies only to the application fee and does not reduce other fees, charges, repayments, taxes, registration costs, insurance premiums or vehicle costs;
- is applied once per eligible novated lease.
7. Finance Approval
All novated lease applications remain subject to assessment, approval criteria and documentation requirements.
Nothing in this promotion guarantees approval of a novated lease.
8. Vehicle Delivery and Settlement
The Offer is determined by the date on which an eligible vehicle order is placed.
Vehicle delivery, registration, settlement, lease commencement and finance drawdown may occur after the Promotion Period and do not affect eligibility for the Offer, provided the vehicle was ordered during the Promotion Period and all other eligibility requirements are satisfied.
9. Variation or Withdrawal
Maxxia reserves the right to amend, extend, suspend or withdraw the promotion at any time where reasonably necessary, subject to applicable law.
10. Privacy
Personal information collected in connection with this promotion will be handled in accordance with the applicable MMS Privacy Policy.
11. General
Participation in this promotion constitutes acceptance of these Terms and Conditions.
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