Price update
EV prices May 2026 – who's cutting the most?
Published May 8, 2026 · Elbilvalg.no
The EV price war continues. We've reviewed all model prices in our database and found that most have dropped — some by over NOK 70,000. But not all: a few models have gone up.
The big trend: prices are falling
Of the 13 models with price changes, 9 went down and 4 went up. This is consistent with the overall market trend: increased competition, particularly from Chinese manufacturers, is pushing European and Korean brands to adjust their pricing.
The most notable cuts come from Renault, which under a new Norwegian importer (RN Nordic) has slashed prices dramatically. Hyundai, Xpeng and Polestar have also made significant adjustments.
Biggest price drops
These models have received the largest price cuts:
| Model | Old price | New price | Change |
|---|---|---|---|
| Renault Megane E-Tech | 369,900 | 299,900 | −70,000 |
| Renault Scenic E-Tech | 449,900 | 389,900 | −60,000 |
| Hyundai IONIQ 5 LR AWD | 499,900 | 449,900 | −50,000 |
| Xpeng G6 | 449,900 | 399,900 | −50,000 |
| Polestar 2 LR Dual Motor | 499,900 | 472,500 | −27,400 |
| Volvo EX30 Single Motor | 369,900 | 349,900 | −20,000 |
| Ford Explorer Electric AWD | 499,900 | 479,900 | −20,000 |
| Cupra Tavascan VZ | 559,900 | 539,900 | −20,000 |
| Kia EV6 LR AWD | 529,900 | 519,000 | −10,900 |
Renault surprises with aggressive pricing
New Norwegian importer RN Nordic has launched a spring campaign cutting NOK 50,000 off both the Megane E-Tech and Scenic E-Tech. The Renault Megane E-Tech now starts at NOK 299,900 — under 300,000 for a modern EV with 450 km range. The Scenic E-Tech with its large 87 kWh battery and 620 km range is now available from NOK 389,900 in the Techno Long Range trim.
These prices make Renault one of the most competitive brands in the Norwegian EV market, particularly measured in range per krone.
Hyundai and Xpeng follow suit
Hyundai has launched a "Norgespris" (Norway price) on the IONIQ 5, cutting the starting price by NOK 50,000 to 449,900 for the Long Range AWD. The offer includes winter tyres and metallic paint. The IONIQ 5 is one of Norway's most popular EVs, and the price cut makes it even more compelling against competitors like the Tesla Model Y.
The Xpeng G6 has also dropped significantly, from 449,900 to 399,900. The new G6 model features upgraded charging at up to 451 kW, enabling 10-to-80% charging in just 12 minutes — among the fastest in the market.
Some models have gone up
Not all prices are heading down. Four models in our database have seen price increases:
| Model | Old price | New price | Change |
|---|---|---|---|
| Smart #3 BRABUS | 469,900 | 539,900 | +70,000 |
| Kia EV9 LR AWD | 699,900 | 759,900 | +60,000 |
| Smart #1 Pro+ | 349,900 | 399,900 | +50,000 |
| Volvo EX30 Twin Motor | 439,900 | 468,900 | +29,000 |
The Smart models had incorrect lower prices in our earlier listing and have now been corrected to the actual list price. The Kia EV9 AWD variant was previously listed at the RWD price and now shows the correct AWD price. The Volvo EX30 Twin Motor has seen a genuine price increase in the recommended retail price for the 2026 model year.
What does this mean for buyers?
Competition in the EV market is fiercer than ever. Chinese manufacturers like Xpeng and BYD are forcing European brands to follow with price cuts. For buyers, this means you're getting more car for your money.
A few models stand out as particularly good value right now:
- Renault Megane E-Tech at under NOK 300,000 is hard to beat on price for a new EV with decent range.
- Xpeng G6 at NOK 399,900 gives you a spacious SUV coupe with 570 km range and ultra-fast charging — at a price that would have been unthinkable a couple of years ago.
- Hyundai IONIQ 5 at NOK 449,900 is a proven bestseller with 800-volt charging, now at a very competitive price.
Compare prices yourself
See all updated prices on our overview page, or use the table to sort all models by price. You can also compare models head to head.
Prices are based on recommended retail prices and campaign prices from importers' Norwegian websites as of May 2026. Actual prices may vary by trim level and delivery location. Older models in the database were not reviewed as they are no longer sold new.