MG axes cheapest MGS5 EV variants but boosts flagship at same price
The MY26 update culls the entry-level Excite variants and hands the flagship Essence 62 more power and range, all while holding driveaway pricing at $41,990 and $46,990.
Rob Leigh
Key takeaways
- 2026 MG MGS5 EV range simplified to two Essence variants
- Essence 62 gains 150kW and up to 450km range
- Pricing held at $41,990 and $46,990 driveaway
MG Motor Australia has overhauled the 2026 MG S5 EV, cutting its two cheapest variants and channelling more power and range into the flagship. The reshuffle is live now with cars available to order and first Australian deliveries due soon.
What's changed for the 2026 MG MGS5 EV
The entry-level Excite 49 and Excite 62 are gone. That leaves the Essence 49 as the new starting point, unchanged at $41,990 driveaway, with the upgraded Essence 62 sitting above it at $46,990 driveaway.
MG says the cull follows buyer behaviour rather than leading it. More than 80% of orders since launch went to MG Essence variants, and the Essence 62 alone accounted for 58% of all MGS5 EV sales.
More power and range for the Essence 62
The bigger change is under the flagship's floor. The Essence 62 now makes 150kW and 350Nm, up from 125kW and 250Nm, dropping the 0-100km/h sprint to 7.0 seconds from 8.6 seconds.
Driving range climbs to up to 450km on the WLTP cycle, from 425km, thanks to a more efficient motor with higher power density. Battery capacity is spelled out in each name: 62kWh for the Essence 62 and 49kWh for the Essence 49.
Both variants ride on the same Modular Scalable Platform as the MG4, keep rear-wheel drive and carry a five-star ANCAP rating.
Essence 62 specs and performance
| Specification | Previous | MY26 |
| Power | 125kW | 150kW |
| Torque | 250Nm | 350Nm |
| 0-100km/h | 8.6 seconds | 7.0 seconds |
| Driving range (WLTP) | 425km | Up to 450km |
| Battery capacity | 62kWh | 62kWh |
Newly standard across the range:
- Wireless Apple CarPlay
- Hands-free power tailgate
MG Motor Australia marketing director for Australia and New Zealand, Dimitri Andreatidis, framed the changes as a response to how buyers are actually shopping.
"The updated Essence 62 delivers more power and greater driving range while remaining at the same price, and we've simplified the line-up to better reflect what Australian customers are choosing," Mr Andreatidis said.
2026 MG MGS5 EV pricing
| Variant | Driveaway price |
| Essence 49 | $41,990 |
| Essence 62 | $46,990 |
MG is betting spec beats sticker price
Killing the Excite variants lifts the MGS5 EV's entry price and effectively hands the sub-$40,000 small-EV slot to rivals like the BYD Atto 3 and GWM Ora 5.
MG can afford that because the Essence 62 was already driving 58% of sales, so the range now concentrates on its highest-margin trim rather than chasing volume at the bottom. Holding $46,990 on a flagship that is now 25kW stronger and good for an extra 25km reads as a direct counter to the freshly upgraded XPeng G6 and Geely EX5, both sharpening their specs at similar money.
Buyers chasing the lowest-priced MGS5 EV have missed their window. The trade now is simple: pay from $41,990 for more spec, or shop the cheaper Chinese rivals still fighting under $40,000.
Frequently asked questions
How much is the 2026 MG MGS5 EV?
The 2026 MG MGS5 EV starts at $41,990 driveaway for the Essence 49 and $46,990 driveaway for the Essence 62.
What is the driving range of the MG MGS5 EV Essence 62?
The updated Essence 62 offers up to 450km on the WLTP cycle, an increase from 425km previously.
Is the MG MGS5 EV Excite still available?
No. The Excite 49 and Excite 62 have been discontinued for the MY26 update, with the range now starting at the Essence 49.
Rob Leigh
Co-founder & Director
Rob Leigh is Co-founder and Director of The Beep based in Melbourne, Australia. He has 15+ years inside a major automotive OEM, specialising in product planning, pricing and vehicle strategy.
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