Geely EX5 Gets a Major Upgrade — Is It Worth a Novated Lease?
A beefed-up Geely EX5 is coming. More power, RWD, active aero. Here's what Australian novated lease buyers should know before signing anything.
A significantly upgraded Geely EX5 has been revealed in China through a mandatory MIIT filing — the kind of regulatory disclosure that tends to preview what's heading to export markets. According to the EVcentral AU report, the updated model brings a power hike, a rear-wheel-drive variant, and active aerodynamics — changes that put it in direct conversation with Tesla Model Y and BYD Atto 3 at the pointy end of the mid-size EV segment.
Geely isn't a household name in Australian driveways yet, but that's changing. The brand has been steadily building its presence in right-hand-drive markets, and an upgraded EX5 — if it lands here — would slot into exactly the price and size bracket that attracts the most novated lease enquiries.
What this means for novated lease customers
The EV novated lease story in Australia is largely driven by the FBT exemption for eligible battery electric vehicles, which currently applies to EVs below the luxury car tax threshold. That exemption is what makes the numbers compelling — not the badge on the car. So whether you're weighing up a Tesla, a BYD, or a Geely, the tax treatment is the same if the vehicle qualifies.
What the upgraded EX5 potentially changes is the competitive value equation. More specification at a similar or lower price point could mean more car for the same novated lease commitment — particularly for employees who want a practical mid-size SUV without stretching to premium pricing. That said, Australian pricing and a confirmed local launch date haven't been announced, so treat this as a vehicle to watch rather than one to book today.
If you're in the market now and don't want to wait, the current pool of FBT-exempt EVs is already substantial. If you can hold off, it's worth seeing what the revised EX5 actually lands for locally before you commit.
Common questions
Is the Geely EX5 currently available on a novated lease in Australia?
The existing EX5 is available through some dealers in Australia. The upgraded variant revealed in China has not yet been officially confirmed for the Australian market, so check with your novated lease provider before factoring it into your plans.
Does the FBT exemption apply to Geely EVs?
Eligibility for the FBT exemption depends on the vehicle meeting the criteria set out in the legislation — primarily that it's a battery electric vehicle with a GST-inclusive value below the luxury car tax threshold. Assuming a Geely EV meets those criteria, it would be treated the same as any other qualifying EV. Always confirm current eligibility with your employer and a licensed novated lease provider.
How does the upgraded EX5 compare to a Tesla Model Y or BYD Atto 3 on a novated lease?
The tax treatment is identical for any FBT-exempt EV, so the comparison comes down to drive-away price, running costs, and which vehicle suits your needs. A novated lease calculator will give you a clearer picture once Australian pricing for the updated EX5 is confirmed.
Should I wait for the upgraded EX5 or lock in an EV now?
That depends on your timeline and how urgent your need is. If your current vehicle situation is costing you money, waiting on an unconfirmed model launch has its own cost. It's worth having a no-obligation conversation with a novated lease provider to model both scenarios.
What does a MIIT filing mean for Australian buyers?
China's Ministry of Industry and Information Technology (MIIT) requires manufacturers to file specifications before a vehicle can be produced or sold in China. It's a reliable signal that a vehicle is real and in production, but it says nothing about export timelines or right-hand-drive availability.