MG Cyberster electric sports-car likely to have $120,000 price tag

The first electric sports-car to come from Chinese manufacturer MG – called the Cyberster and due in Australia by the end of this year – has been given a revised pricing estimate.

Although final pricing is yet to be confirmed, the latest estimates range from $100,000 to $130,000.

Previously MG Australia had indicated the Cyberster could cost as much as $150,000.

And EFTM has previously speculated a price range of $60,000 to $100,000 if the MG Cyberster line-up included a base model.

“We previously said this car could cost up to $150,000 but now we are saying it could cost between $100,000 and $130,000. However, we are still locking in price with the factory,” Giles Belcher, MG Australia’s recently appointed Chief Commercial Officer, told media at a recent briefing.

Splitting the difference – and using overseas pricing as a guide – the MG Cyberster is expected to zero-in at about $120,000 in Australia.

While that is a power of money for a car made in China – and it will be the most expensive new car to ever wear an MG badge – the company says it does not have an expectation of huge sales.

“This is a halo car for us, we’re not chasing massive volume,” said Giles Belcher, who has recently returned to MG Australia after a brief hiatus.

Prior to his current role at MG, he was a top level executive for Hyundai Australia, Honda Australia and Toyota Australia.

Giles Belcher is now in charge of navigating MG’s next phase in Australia after a rapid growth spurt during the global coronavirus pandemic.

MG Australia was able to capitalise on China having ample stock of new vehicles at a time when most other car brands were in short supply.

Now that global automobile production has resumed to pre-COVID levels – and MG has introduced a range of new models that are much dearer than the ones they replace – MG sales have hit reverse in Australia (down 7.9 per cent in a market that is up by 8.7 per cent in the first six months of this year).

However, MG Australia has vowed to stay inside the Top 10 – and says the Cyberster shows the company is more than a budget brand.

For now, the company plans to launch only the top-of-the-range version of the MG Cyberster – with all-wheel-drive via two high-output electric motors.

A more affordable, less powerful, rear-wheel-drive model may eventually follow.

“Throughout the lifecycle we may add a cheaper (variant) later on … but there no plans at this stage,” the executive said.

When asked about the sales potential for the MG Cyberster, the executive said the company had already received “a handful” of orders, but there was no volume target.

“We see it as a car that, at this stage, does not have a direct rival. Does it go up against a Porsche Boxster, which is petrol-powered, or does it go up against a Tesla Model 3 Performance electric sedan? It’s a very unique vehicle in the market.”

As previously reported by EFTM, the Cyberster is the first sports-car from MG in more than two decades.

The last one was more than 20 years ago when the MG badge changed hands from British to Chinese ownership.