2026 Skoda Peaq: A New Large EV SUV Worth Watching
The 2026 Skoda Peaq 7-seat electric SUV is revealed June 23. Here's what PAYG employees should know about leasing it under Australia's EV FBT exemption.
A new large electric SUV is entering the conversation. Skoda has previewed the 2026 Peaq — a three-row, seven-seat electric SUV set for its full reveal on June 23, 2026. According to the EVcentral report [Source 1], it's being positioned as a direct rival to the Kia EV9, Hyundai IONIQ 9, and Volvo EX90.
For Australian PAYG employees, the timing matters. If the Peaq lands locally under the $91,387 luxury car tax threshold — which is the FBT-exempt EV price cap benchmark used by the ATO — it could qualify for the full fringe benefits tax exemption on a novated lease. That's not confirmed yet, but it's the number to watch when pricing is announced.
What this means for novated lease customers
Right now, the large seven-seat EV segment in Australia is thin. The Kia EV9 and Hyundai IONIQ 9 are the main contenders, and both sit at or near the LCT threshold — meaning FBT exemption eligibility is tight depending on the variant you pick. A competitively priced Peaq from the Volkswagen Group could give families a genuine third option in this space.
The key things to watch when the June 23 reveal lands: drive-away pricing for Australia, battery and range specs (relevant to running costs), and whether Skoda's local distributor confirms a right-hand-drive build. No point getting excited about a car that won't arrive here. We'll update this page once official pricing is confirmed and we can assess FBT eligibility properly.
If you're currently comparing the EV9 or IONIQ 9 on a novated lease, it's worth holding that comparison open until the Peaq numbers are public. More supply in a segment generally means better pricing pressure — good for buyers, good for residual calculations.
Common questions
Will the 2026 Skoda Peaq qualify for the EV FBT exemption in Australia?
Unknown until Australian pricing is confirmed. The FBT exemption for electric vehicles applies to eligible cars below the luxury car tax threshold (currently $91,387 for fuel-efficient vehicles for FY2025). Once Skoda releases local drive-away pricing, we can give you a straight answer.
How does a novated lease on a large 7-seat EV actually work?
Your employer deducts lease payments from your pre-tax salary, reducing your taxable income. For eligible EVs under the FBT exemption, the benefit is not subject to fringe benefits tax — which is where the significant potential savings come from compared to financing the same car personally.
How does the Peaq compare to the Kia EV9 on a novated lease?
We can't compare them meaningfully yet — Peaq pricing isn't public. What we can say is that the EV9 is an established option with known pricing and FBT eligibility depending on variant. Check back once Skoda's Australian numbers land.
When will the Skoda Peaq be officially revealed?
Skoda has confirmed a full reveal on June 23, 2026, according to EVcentral. Australian availability and timing have not been announced at the time of writing.
Should I wait for the Peaq before signing a novated lease on another large EV?
That depends on your timeline. If you need a car now, waiting for an unpriced, unconfirmed-for-Australia model is a risk. If you have flexibility of a few months, waiting for the June 23 reveal at minimum costs you nothing.