Australia’s electric vehicle market is set for a significant disruption this month with the imminent arrival of the 2026 Forthing Taikon 5. Priced from an aggressive AUD$36,990 drive-away, the new mid-size SUV is poised to become the nation’s most affordable offering in both the pure electric vehicle (EV) and extended-range electric vehicle (EREV) segments.
Distributed by Ateco Automotive, the Forthing Taikon 5 is arriving in showrooms across every Australian state from later in June 2026, marking a pivotal moment for accessible electric motoring. Its competitive pricing and dual powertrain options are expected to intensify the ongoing price war among EV manufacturers, particularly challenging established budget-friendly models.
Aggressive Pricing Undercuts Key Rivals
The Taikon 5’s headline $36,990 drive-away price point applies to the Range Extender Hybrid Luxury variant. For those preferring a pure electric experience, the EV Luxury model starts from $38,990 drive-away. A higher-specification Exclusive trim is also available, with the EREV version at $40,490 drive-away and the EV at $42,490 drive-away.
This aggressive strategy positions the Taikon 5 well below many of its direct and indirect competitors. For instance, the EREV variant undercuts the recently launched Leapmotor B10 Style EREV, which starts at $37,888 before on-road costs. The pure EV version also comes in cheaper than the BYD Atto 3 Essential, which retails from $39,990 plus on-road costs.
“The Forthing Taikon 5 will become Australia’s cheapest mid-size electric SUV and the cheapest EREV of any kind when it arrives later in June.”
This pricing strategy is a clear indicator of the increasing competition in Australia’s EV market, largely driven by the influx of new models from Chinese manufacturers. These brands are not just competing on sticker price but are also matching legacy automakers on technology and range, making the switch to electric more viable for a broader range of consumers. For first-time EV buyers, understanding these competitive offerings is crucial. Our guide, From Petrol to Plug: The Ultimate First-Time Buyer’s Guide to Switching to an EV in Australia 2026, offers further insights.
Dual Powertrain Options for Australian Drivers
A key differentiator for the Forthing Taikon 5 is its availability in both pure electric (EV) and extended-range electric vehicle (EREV) configurations. EREVs, which combine an electric motor with a small petrol engine acting as a generator to extend range, remain a relatively rare offering in the Australian market. This provides consumers with the flexibility of electric driving for daily commutes while mitigating range anxiety for longer journeys without relying solely on public charging infrastructure.
While specific battery capacities, electric-only range for the EREV, and overall power outputs for the Taikon 5 have not yet been fully detailed, the vehicle is described as a “Toyota RAV4-sized SUV.” This suggests a practical and family-friendly footprint for the Australian market. The introduction of such an affordably priced EREV could appeal to buyers who are keen to reduce their fuel consumption but may not yet have consistent access to EV charging at home or across their travel routes. For those considering home charging solutions, exploring options in our Best EV Home Chargers in Australia 2026: A Buyer’s Guide to Costs and Installation is recommended.
Market Impact and Evolving Consumer Choices
The arrival of the Forthing Taikon 5 underscores a significant shift in Australian automotive preferences. Recent VFACTS data for May 2026 revealed that battery electric vehicles captured a record 20% of all new vehicle sales, with electrified vehicles (including hybrids and plug-in hybrids) accounting for 46% of the total market. This trend is particularly pronounced in the dominant SUV segment, where electric SUV sales increased by 167% compared to May 2025.
Chinese brands, including BYD and now Forthing, are rapidly expanding their market share by offering compelling value propositions. This increased competition is driving down upfront costs and making EVs more accessible, a factor that is increasingly important as Australians face rising fuel prices and cost-of-living pressures. The ability to charge an EV at home, often utilising rooftop solar, presents substantial annual savings compared to petrol vehicles. Understanding how to maximise these savings through optimal electricity plans can be found in Slash EV Charging Costs by Up To $800/Year: Best Electricity Plans in Australia 2026.
Competitive Landscape: Taikon 5 vs. Key Affordable SUVs
| Model | Starting Price (AUD) | Powertrain Type | On-Road Costs Included? | Primary Competitor Claim |
|---|---|---|---|---|
| Forthing Taikon 5 (EREV Luxury) | $36,990 | EREV | Yes (Drive-away) | Cheapest mid-size EREV |
| Forthing Taikon 5 (EV Luxury) | $38,990 | BEV | Yes (Drive-away) | Cheapest mid-size EV |
| BYD Atto 3 Essential | $39,990 | BEV | No (Plus on-roads) | Popular budget EV SUV |
| Leapmotor B10 Style EREV | $37,888 | EREV | No (Before on-roads) | Direct EREV competitor |
Note: Pricing for competitor models is indicative and based on recent market data. Specific vehicle specifications may vary.
The introduction of the Forthing Taikon 5 further democratises the electric vehicle landscape in Australia, offering a mid-size SUV form factor with flexible powertrain options at a price point previously unseen. As more affordable models enter the market, the transition to lower-emission transport is set to accelerate, challenging traditional petrol and diesel dominance across all vehicle segments.