The new BMW iX3 is cheaper than most luxury rival EVs

The new iX3, BMW’s first Neue Klasse electric vehicle, is more affordable than most luxury rivals in Australia. With prices starting at around $60,000, it will be one of the more affordable luxury EVs in the US, too.

A new era is set to begin at BMW with the new iX3 arriving this year, the first of its Neue Klasse electric vehicles. BMW claims the new EVs feature 30% longer driving ranges, 30% faster charging, and 20% higher energy density than its current lineup.

They will also be more affordable. BMW revealed on Tuesday that the 2026 iX3 starts at AUD $109,900 ($78,700) in Australia, considerably less than most of its luxury rivals.

The Genesis Electrified GV70, Porsche Macan Electric 4, Audi Q6 e-tron, and Polestar 3 Long Range Dual Motor are priced between AUD $120,000 and AUD $140,000 ($85,000-$100,000).

According to TheDriven, the iX3 50 xDrive is only AUD $5,000 ($3,500) more than the outgoing version with the highest single-motor spec and AUD $3,000 ($2,200) more than the X3 PHEV.

Based on BMW’s sixth-generation eDrive (Gen6) 800V architecture, the Neue Klasse iX3 50 xDrive delivers up to 469 hp (345 kW) and 645 Nm of torque. With a peak DC charging capacity of up to 400 kW, BMW said the new iX3 can gain 373 km (231 miles) of range in about 10 minutes.

The interior features a clean, modern setup with a massive 17.9″ central touchscreen, redesigned, easier-to-use steering wheel, and BMW’s Panoramic Vision 3D Head-Up Display.

Powered by a 108.7 kWh battery pack, the 2026 BMW iX3 has a WLTP range of up to 805 km (500 miles). On the EPA rating system, it’s estimated to have a range of up to 400 miles.

Will BMW undercut luxury rivals in the US with the new iX3 due out this summer? BMW’s website says the 2026 iX3 50 xDrive will have an MSRP starting around $60,000.

If true, it will cost less than the 2026 Genesis Electrified GV70 ($64,380), the Porsche Macan Electric ($80,300), the Audi Q6 e-tron ($63,800), Rivian R1S ($76,990), and the Mercedes EQS ($89,950). However, the Cadillac Lyriq ($59,200) and Tesla Model Y ($39,900) may still have it beat.

However, Rivian is launching the R2, Lucid is set to introduce its midsize crossover, and several other brands are launching lower-priced models this year and in 2027 that will directly compete with the new BMW iX3.

According to Kelley Blue Book, the average American paid $49,353 for a new car in February 2026, so $10,000 more for a fully electric, tech-loaded, luxury SUV isn’t too bad.

After BMW accidentally leaked its 2027 model lineup online, we got a sneak peek at its upcoming electric vehicles set to arrive over the next few months.

Following the iX3 this summer, BMW will launch the i3 crossover, iX4 sedan, and iX5 as 2027 model year vehicles.

Are you buying the new BMW iX3 or sticking with another luxury brand? Drop us a comment below and let us know your thoughts.

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Peter Johnson is covering the auto industry’s step-by-step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments. If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising