Polestar 4 Gets a 2026 Update — What It Means for Your Novated Lease
Polestar's updated 2026 Polestar 4 is now available to order in Australia. Here's what PAYG employees should know before considering a novated lease.
Polestar has released a refreshed version of the Polestar 4 electric coupé, now available to order in Australia, according to a report from The Driven [Source 1]. The update brings a lower carbon footprint compared to the outgoing model — a detail worth noting if sustainability is part of your vehicle decision, but not the only thing worth knowing before you sign anything.
The Polestar 4 sits in the premium EV segment — a sleek, rear-window-delete coupé-SUV that turns heads on paper and on the road. It's the kind of vehicle that looks good on a novated lease, but 'looks good' and 'is good for your situation' are two different things.
What this means for novated lease customers
If you're a PAYG employee in Australia, the Polestar 4 sits within the FBT-exempt EV price threshold set by the Australian Government — meaning under a novated lease, you could potentially pay for the vehicle using pre-tax salary, with no Fringe Benefits Tax applied, provided eligibility conditions are met. That's a meaningful structural advantage over buying outright or through a standard car loan.
The lower carbon footprint claim on the updated model is worth taking at face value, but don't let marketing language do the heavy lifting in your decision. What actually matters: your income, your employer's novated lease policy, and the total cost of ownership including charging, insurance, and residual value at the end of the lease term.
One flag worth noting: The Driven also reports that Polestar has been denied permission to sell its EVs in the US market [Source 1]. That's a US-specific regulatory issue and doesn't affect Australian availability — but it's a reminder that EV brands operating outside their home markets can face headwinds. Something to keep in mind when thinking about long-term brand support and resale.
Common questions
Is the Polestar 4 eligible for the EV FBT exemption in Australia?
Eligible EVs must fall below the luxury car tax threshold for fuel-efficient vehicles, and the Polestar 4 has previously sat within that range. You should confirm the exact drive-away price of the updated model against the current threshold before committing, as pricing can shift with updates.
Can I order a Polestar 4 through a novated lease right now?
The updated 2026 Polestar 4 is now available to order in Australia according to The Driven. Whether it fits your novated lease depends on your employer's approved vehicle policy and your lender's acceptable vehicle list — millarX can help check both.
Does the 'lower carbon footprint' claim affect the FBT exemption eligibility?
No. FBT exemption eligibility is based on whether a vehicle is a battery electric, hydrogen fuel cell, or plug-in hybrid vehicle below the relevant price cap — not on its manufacturing carbon footprint.
Should I be worried about Polestar's US market issues affecting my Australian purchase?
The US regulatory issue is separate from Australian operations. However, it's reasonable to consider brand stability and local service network depth when choosing a premium EV on a multi-year lease.
How does a novated lease on a premium EV like the Polestar 4 actually work?
Your employer deducts lease repayments and running costs from your pre-tax salary. For FBT-exempt EVs, this can reduce your taxable income meaningfully — but the actual benefit depends on your marginal tax rate, the vehicle's drive-away price, and your typical annual kilometres.