2027 Mitsubishi ASX VR-e “won’t be the cheapest” small electric SUV in Australia, as New Zealand pricing announced

Mitsubishi Motors Australia has yet to price its new electric SUV, but it has cautioned it won’t be a budget offering – something borne out by its pricing across the ditch.

In New Zealand, the new Mitsubishi ASX VR-e has been priced from NZ$57,990 (~A$46,800) before on-road costs for the single-motor rear-wheel drive LS, topping out at NZ$72,990 (~A$58,900) plus on-roads for the dual-motor all-wheel drive ASX VR-e GSR flagship.

That makes its base price higher in New Zealand than the entry-level Kia EV3 (NZ$55,520 plus ORCs), while the most affordable ASX VR-e is also more expensive than the top-spec MG S5 EV (NZ$52,990 plus ORCs). The BYD Atto 3 is offered in a single grade in New Zealand, priced at NZ$49,990 plus ORCs.

The ASX VR-e also starts NZ$6000 (~A$4800) above the cheapest Outlander, which in Australia opens at $39,990 plus ORCs. The updated BYD Atto 3 Evo, for context, is priced from $41,990 to $46,990 plus ORCs here.

The small electric SUV, developed with Taiwan's Foxtron and based on that brand's Bria, is due for Australian release during the fourth quarter (October to December) of 2026, with local pricing yet to be announced.

“We haven't announced the pricing, but yeah I think the competition is not just simply on the pricing, and therefore we will make this VR-e a competitive product in the segment, not just simply based on the pricing, [but] including many other aspects of automotive business,” Mitsubishi Motors Australia CEO Shunichi Kihara told Australian media, including CarExpert, earlier this month.

“So I believe when customers choose products, of course they look at the price, but the price is not the only [factor].

“No, we won't be the cheapest. We won't be the cheapest option in the market.

“We want to put Mitsubishi Motors-ness around the product, including the customer experience, and then we want customers to choose our product because of the value, again compared to the price we put on the product.”

The SUV measures 4315mm long and has a 2800mm wheelbase – making it similar in size to the Kia EV3 – while aerodynamic features including active grille shutters, air curtains and an 'S-Duct' front-end design contribute to a claimed 0.26 drag coefficient.

All variants in New Zealand use a 57.7kWh lithium iron phosphate (LFP) battery that can be charged at up to 134kW on DC power. WLTP range is between 380km and 403km in rear-wheel drive variants, which use a 171kW/350Nm electric motor and have a claimed 0-100km/h time of 6.8 seconds.

The dual-motor all-wheel drive GSR produces 342kW and 700Nm, and hits 100km/h in a claimed 3.9 seconds, while the WLTP range drops to 328km.

Inside the ASX VR-e, which will be sold in Australia alongside the unrelated, petrol-powered ASX small SUV, there's a 9.2-inch digital instrument cluster and a 15.6-inch touchscreen infotainment system.

The New Zealand lineup comprises familiar LS, XLS, Exceed and GSR trims, with available features – depending on the variant – including heated and ventilated front seats, ambient lighting, and a panoramic glass roof. Australia will have a slightly different lineup, with the XLS name swapped out for Aspire.

Developed with Foxtron and Italian design house Pininfarina, the ASX VR-e will be Mitsubishi Motors Australia's first EV since the pint-size i-MiEV was discontinued here in 2012.

Mitsubishi says local testing and tuning has been carried out in Australia.

The ASX VR-e name pays homage to the high-performance all-wheel drive Galant VR-4, offered here from 1990 to 1993.

The new small SUV is arriving as EV sales continue to be buoyed by high fuel prices. In August, electric power was the most popular form of propulsion in new vehicles sold in Australia, beating out petrol, diesel, hybrid and plug-in hybrid (PHEV) power.

Though it's a PHEV pioneer, Mitsubishi has been caught without conventional hybrid or EV models as demand for both vehicle types continues to increase. To the end of August, Mitsubishi has delivered 30,476 vehicles so far this year, down 29 per cent on the same period last year, pushing it just outside of the top 10.

The ASX VR-e is one of two critical new models to come from Mitsubishi this year, with the other being the new Pajero.

MORE: Explore the Mitsubishi ASX VR-e showroom