Where are you right now? Because that’s where you were when you found out that the price of EVs globally fell below those of hybrids in this historic first for the auto industry.
According to a report from car industry analytics company Mobility Global which studied pricing automotive data from around the world the average price of vehicles has not only fallen dramatically but has now even dropped below that of hybrids.
The report shows that the average global price of an electric car is $52,373, a decrease of nine per cent compared to 2020 EV prices. At the same time the global average price of hybrids increased to $55,204 making them more expensive than EV for the first time.
Mobility Global cites the lower cost of EV batteries and the rapid expansion of affordable Chinese electric vehicles on offer as the main drivers of the price decrease.
The price of lithium which goes into high-voltage EV batteries has dropped due to a surplus in China which controls about 80 per cent of the market. The cost of an EV’s accounts for about 40 percent of the car’s total build price. The lower lithium prices have caused the price of batteries to drop by an estimated 37 per cent since 2020.
How does the EV and hybrid market in Australia compare?
Australia has recently seen an enormous uptake of EVs. June and July this year saw EV sales break records, securing more than 20 per cent of the market in both months.
While prices have fallen vastly in Australia CarsGuide calculated the average price of EVs is still slightly above those of hybrids locally.
Using pricing data from August, 2026 CarsGuide calculated the average price of battery electric vehicles to be approximately $100,135, down from approximately $104,091 in August, 2025.
We also calculated the average price of hybrids (including plug-in hybrids) in August, 2026 – approximately $93,767, that’s down from approximately $98,682 in August, 2025.