MG Australasia's boss has surprised everyone at the launch of its EV SUV,  the ZS, with his decision to slash it by NZ$7000 from its advertised price as he wants to make it accessible to everyone.

Chinese company SAIC bought the MG badge in 2011, adding SUVs to its sedan line up. The company announced it was selling its electric version of the ZS compact SUV mid-2020 with a retail price of NZ$55,990, making it the cheapest new EV in New Zealand.

But at today’s press conference, MG Australasia’s CEO, Peter Ciao, shocked everyone with the new price of NZ$48,990 as he changed his mind “a few weeks ago”. 

On MG NZ’s website, it stated that for the first 150 orders, the price would be $50,100, then up to $55,990.

Ciao said that customers who had already paid the $50,100 price would get a refund.

He also explained the sharp price cut came after he drove the ZS EV recently in Sydney.

“The torque was unbelievable. This is the future (of motoring) and I want everyone to have the chance to drive it,” he said at the press conference that AutoMuse watched virtually.

The ZS EV has a range between 263- and 370km with three levels of regenerative braking. It produces 105kW of power and 353Nm of torque, charging to 80 per cent on a supercharger in 45 minutes.

Ciao said that there were over 100 ZS EVs in Australia and New Zealand “with 1000 more to come soon” with expectations of 3000 sales in 2021.

To give you an idea of how the MG will make an impact on the new EV range in New Zealand, the Nissan Leaf full electric is $61,990, the Hyundai Kona is $74,000 and Kia Niro is $68,000.