IM5: the $68,000 sedan with 655 km of range and 396 kW charging
Why it matters: The Platinum is the one to look at. A Tesla Model 3 Premium Long Range goes further on a charge (750 km claimed) and a Polestar 2 matches it, but neither charges anywhere near as fast, and their prices are before on-road costs while the IM5's is drive-away. The catches: only the fastest public chargers, the 350 kW units, get near that 396 kW, and there aren't many of them yet. At home it charges like any other EV. The cheaper Premium misses out on the fast-charging hardware altogether. IM is also a new badge here with no track record yet, so resale value is a guess. If you drive long distances and want a big, quick sedan, it deserves a test drive alongside the Model 3.
The IM5 is the big electric sedan from MG's premium IM brand, and on paper it does things cars at this price usually can't. The Platinum, at $67,990 drive-away, pairs a 100 kWh battery with a claimed 655 km of range and an 800-volt system that can take up to 396 kW from a fast charger: MG says 30 to 80% takes about 15 minutes. It makes 300 kW at the rear wheels and reaches 100 km/h in 4.9 seconds. Below it, the Premium ($60,990 drive-away) has a 75 kWh battery, 490 km of range and slower 153 kW charging; above it, the all-wheel-drive Performance ($77,990) hits 100 km/h in 3.2 seconds with 575 km of range. Every version is 4.93 m long, has a 457-litre boot, can tow 1,500 kg and carries a 7-year, unlimited-kilometre warranty.
- Model 3 LR750
- Polestar 2 LR659
- IM5 Platinum655
- Kia EV4 Earth612
- BYD Seal570
Makers' claimed (WLTP) figures. Prices: Model 3 Premium Long Range RWD $61,900, Polestar 2 Long Range Single Motor $66,400, Kia EV4 Earth $59,190 and BYD Seal Premium $52,990, all before on-road costs; IM5 Platinum $67,990 drive-away. Checked 15 Nov 2026.
Source: MG Motor Australia (IM5 brochure and offers page), checked 15 Nov 2026; NRMA Open Road IM5 review
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- Home EV chargers now start at about $770: Autel, Tesla, Evnex and Zappi prices compared 14 November 2026
- Buying an EV charger at Bunnings? What to check before you do 14 November 2026
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How we work it out, and our sources
Weekly cost = the car's energy use × 250 km × your electricity or fuel price, with 90% of charging at home. Prices are list prices at November 2026; check with the dealer.
- Electricity: 2026–27 default rates (AER, Victorian Default Offer, state retailers). Public charging: Sydney network prices, July 2026.
- Petrol and diesel: capital-city daily averages from state government price feeds, via FuelRadar, 12 November 2026. Diesel for Hobart, Canberra and Darwin is estimated from the national fall.
- Cars: maker figures via CarExpert, Drive, CarsGuide and EV Central. Plug-in electric range is taken as 80% of the claim.
- Servicing: published capped prices; marked as an estimate where not yet published (CarExpert comparison).
- Tyres: an EV set lasts about 35,000 km, a petrol or hybrid set 50,000 km (RACV); prices from Gridly.
- Home charger: about $2,000 installed ($1,000–$3,000). Novated leases: PwC summary.
Printed from EV Pick Australia · evpick.com.au. Prices and costs are estimates; check with the dealer. © 2026 EV Pick (T. Crouch). For personal use only; not to be copied, republished or sold without permission.
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