Skoda Peaq: Australia's Next Big Family EV Explained
Skoda's flagship Peaq electric SUV is coming to Australia. Here's what PAYG employees should know about novated leasing a large EV before it lands.
Skoda has announced pricing and specifications for its largest electric vehicle yet — the Peaq, a flagship SUV positioned to take on the Hyundai Ioniq 9, Kia EV9, and potentially higher-priced rivals like the Volvo EX90. According to The Driven [Source 1], it's Skoda's most ambitious EV to date and is expected to compete in the Australian market.
For PAYG employees eyeing a large family EV, this is worth tracking. A new mainstream competitor in the large electric SUV segment means more choice — and more choice typically keeps pricing honest.
What this means for novated lease customers
The Peaq sits in a segment — large electric SUVs — that is increasingly attractive under Australia's current EV tax policy. Battery electric vehicles under the luxury car tax threshold currently attract zero FBT when held under a novated lease, meaning a significant portion of your lease cost is paid from pre-tax salary. That's the same policy that has made the Kia EV9 and Ioniq 9 popular novated lease picks.
If the Peaq is priced competitively against those rivals (as The Driven [Source 1] suggests is the intent), it could represent genuine value for employees who need seven seats and want to run the whole package — finance, fuel, registration, insurance — through their salary package. We'll update this page with confirmed Australian pricing as it comes through. In the meantime, the potential savings on a large EV under a novated lease are meaningful — but the exact numbers depend on your income, employer, and the final drive-away price.
One thing worth noting: the FBT exemption for EVs is not guaranteed forever. It has already been subject to review and remains a live political issue. If you're considering a large EV purchase, timing your decision around policy certainty matters.
Common questions
Will the Skoda Peaq qualify for the EV FBT exemption in Australia?
If it's a battery electric vehicle and priced under the luxury car tax threshold at the time of delivery, it should qualify under current rules. Final pricing for Australia hasn't been confirmed yet, so we can't say definitively — check back once local specs are announced.
How does the Peaq compare to the Kia EV9 and Ioniq 9 for novated leasing?
All three are large electric SUVs targeting a similar buyer. The right pick depends on confirmed Australian pricing, features, and how each sits against the LCT threshold. A broker can run the numbers once local pricing drops.
Can I put a car on a novated lease before it's officially available in Australia?
Generally, novated leases are written once a vehicle has a confirmed delivery date and drive-away price. You can express interest early and lock in once the Peaq has confirmed Australian availability.
Is the EV FBT exemption still available in 2025–26?
Yes, as of the time of writing the exemption remains in place for eligible BEVs. It is subject to ongoing review — always confirm current rules with a licensed adviser or the ATO before making a decision.
What running costs can I bundle into a novated lease on a large EV?
Typically: registration, insurance, tyres, servicing, and home charging costs can all be bundled into a fully maintained novated lease and paid from pre-tax salary, subject to your employer's policy.