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Chery slashes price of E5 Ultimate, making it lowest-cost electric SUV with 420 km range
Chery has slashed the price of its top-spec MY26 E5 SUV Ultimate edition by thousands of dollars, bringing it down to just $37,990 driveaway.
The new price for the model is over $6,000 cheaper than the previous driveaway price, and makes it the lowest cost electric SUV with over 420 km of WLTP range in the Australian market.
The move follows a surge in interest in EVs in Australia, with sales reaching record highs in March and order books pushing out to several months, and amid a new round of price-cuts as various car makers seek to put their models centre stage.
Lucas Harris, the COO of Chery Australia, said the new pricing was designed to make EVs more accessible to more Australians. “At $37,990 driveaway, the E5 delivers exceptional value in a practical SUV package, without asking customers to compromise on features, safety or technology,” he said in a statement.
Electric BYD rival gets a sharper price
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Chery Australia has introduced a sharp drive-away deal for its E5 electric compact SUV, while discontinuing the previous entry level variant.
The E5 will now start from $37,990 (drive-away), coming in a single variant called the Ultimate, which used to top the range, meaning the base Urban grade is no longer available.
Despite the entry level grade being cut from the range, the new price represents a substantial saving on previous $40,990 before on-road cost pricing for the range-topping variant.
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Chery E5 MY26 Price Cut: Now From $37,990 Driveaway
Chery Australia has cut the price of the MY26 E5 Ultimate to $37,990 driveaway. The previous price was $39,990 driveaway, a saving of $2,000. It is now one of the most affordable small electric SUVs on sale in Australia.
The E5 Ultimate is the only variant available for the MY26 model year. It can be ordered now through Chery's national dealer network.
The Chery E5 was the 26th best selling BEV model in 2025 with 868 sales. The segment leader, the BYD Atto 3, sold 3861.
The E5 comes with a 430km WLTP range. Standard features include Apple CarPlay, Android Auto, advanced safety systems, and a full-size spare wheel. The interior is described as well-appointed with a spacious cabin suited to both city and weekend use.
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