MG 07 Electric Sedan: What Novated Lease Buyers Need to Know
MG's new 07 flagship EV sedan rivals the Tesla Model 3 and BYD Seal. Here's what Australian salary packers should know before signing anything.
A new contender has entered the mid-size electric sedan market. SAIC-owned MG Motor has revealed the MG 07, a flagship all-electric sedan pitched directly against the Tesla Model 3 and BYD Seal — according to the EVcentral AU report [Source 1]. It's a segment that's already popular with novated lease customers, and another competitive option here is worth paying attention to.
Details on Australian pricing and a confirmed on-sale date are still emerging, so treat anything specific with healthy scepticism for now. That said, if MG prices the 07 competitively — as they've done with the MG4 — it has a real shot at becoming one of the more affordable EV options available under a novated lease.
What this means for novated lease customers
If the MG 07 lands under the luxury car tax threshold for fuel-efficient vehicles (currently $91,387 for 2024–25), it would almost certainly qualify for the federal government's EV FBT exemption — meaning zero fringe benefits tax on the lease, which is one of the biggest financial levers in novated leasing for EVs. That exemption applies to eligible zero-emission vehicles under the threshold, per the ATO's guidance on the FBT exemption for electric cars.
More competition in this segment is straightforwardly good for buyers. Tesla and BYD have held most of the mindshare for sub-$70k electric sedans. A credible third option gives you negotiating context and more flexibility when choosing a vehicle for your novated lease. Don't let the shiny new arrival rush your decision — wait for confirmed Australian pricing, real-world range figures, and a proper comparison before you commit. A novated lease is typically a three-to-five year commitment, so the vehicle you pick matters.
Common questions
Will the MG 07 qualify for the EV FBT exemption in Australia?
Possibly — but it depends on the final Australian drive-away price falling under the luxury car tax threshold for fuel-efficient vehicles. We won't know for certain until local pricing is confirmed. If it does qualify, it could be a compelling novated lease candidate.
How does the MG 07 compare to the Tesla Model 3 and BYD Seal for novated leasing?
All three sit in a similar segment, so the right choice depends on your priorities: purchase price, residual value, service network, and FBT eligibility. It's worth getting quotes across all three once MG 07 pricing lands.
Can I put an MG 07 on a novated lease right now?
Not yet — the vehicle hasn't officially gone on sale in Australia. Once it's available and priced, millarX can run a full novated lease comparison for you.
Does the make of the EV affect how much I save through salary packaging?
The FBT exemption applies to the vehicle, not the brand. What matters is that it's a zero-emission vehicle under the threshold. However, purchase price, residual value, and running costs all affect your overall position — so vehicle choice absolutely matters.
Is it worth waiting for the MG 07 instead of leasing a Model 3 or BYD Seal now?
That depends on your timing and personal situation. If your current vehicle works fine, waiting for more competition could benefit you. If you need a car now, there are already strong options in this segment. A millarX broker can walk you through the numbers for each.