BYD Dolphin G PHEV: Could It Be Australia's Next Smart Lease?
The BYD Dolphin G PHEV has been revealed for Europe with 1040km range. Here's what Australian novated lease customers should know — and what to watch.
A new plug-in hybrid version of the BYD Dolphin — badged the Dolphin G — has been detailed for European buyers, according to EVcentral AU. The headline figure is a claimed combined range of 1040km, made possible by pairing a petrol engine with a plug-in hybrid drivetrain. It's a small hatchback, and if the pricing lands anywhere near Europe's entry point, it would be an affordable, practical car — exactly the kind of vehicle that tends to work well in a novated lease.
BYD already sells in Australia, and the standard Dolphin has been a popular choice for salary-packaging customers. Whether the Dolphin G makes it here is still an open question — but it's worth understanding how a PHEV like this fits (or doesn't fit) into Australia's current tax framework before you get excited.
What this means for novated lease customers
Here's where it gets a bit complicated. Under current Australian tax rules, fully battery-electric vehicles (BEVs) under the luxury car tax threshold are exempt from fringe benefits tax (FBT) when held in a novated lease — a significant advantage that makes EVs genuinely attractive on salary packaging. Plug-in hybrids (PHEVs), however, are treated differently.
PHEVs do not currently qualify for the FBT exemption. That means a Dolphin G, if it arrived in Australia as a PHEV, would be treated more like a conventional car for novated lease purposes — you'd still get the pre-tax efficiency of a novated structure, but you wouldn't receive the additional FBT exemption that makes a pure EV so compelling on the numbers. That's not a reason to rule it out — novated leasing still delivers potential savings on a PHEV compared to buying outright — but the tax treatment is meaningfully different, and anyone telling you otherwise is glossing over the detail.
If BYD were to bring the Dolphin G here, and if policy shifted to include PHEVs in the FBT exemption (something the industry has lobbied for but which hasn't happened yet), the picture could change. For now, watch the policy space and don't make assumptions based on European specs.
Common questions
Is the BYD Dolphin G coming to Australia?
As of mid-2026, BYD has only confirmed the Dolphin G for European markets. There's no official announcement for Australia. BYD has been expanding its Australian lineup steadily, so it's possible — but unconfirmed.
Do PHEVs qualify for the FBT exemption on a novated lease in Australia?
No. Under current Australian tax law, only battery-electric vehicles (BEVs) and hydrogen fuel cell vehicles under the luxury car tax threshold qualify for the FBT exemption. PHEVs are excluded from that exemption.
Is there still a benefit to novated leasing a PHEV?
Yes — you still use pre-tax salary to cover lease repayments and running costs, which reduces your taxable income. You just don't get the additional FBT-free treatment that a pure EV receives, so the overall saving is smaller.
What BYD EVs can I novated lease in Australia right now?
BYD's fully electric models available in Australia — such as the Dolphin and Atto 3 — can be novated leased and may qualify for the FBT exemption, subject to the luxury car tax threshold and other eligibility conditions. Speak to a licensed novated lease provider to confirm your specific situation.
Should I wait for the Dolphin G or lease a Dolphin EV now?
That depends on your circumstances. The existing Dolphin (BEV) has a confirmed FBT exemption pathway and is available today. Waiting on an unannounced PHEV with uncertain tax treatment is a gamble — and novated leases are tied to your employment, so timing matters.