Skoda Peaq EV: What Australian Families Should Know
The 2026 Skoda Peaq seven-seat EV is here to challenge the Kia EV9 and Ioniq 9. Here's what it could mean for your novated lease. Read the millarX take.
A new contender just entered the seven-seat electric SUV race. Skoda has unveiled the 2026 Peaq, a three-row all-electric SUV claiming up to 647km of range and a direct shot at the Kia EV9, Hyundai Ioniq 9, and Volvo EX90 — according to the EVcentral AU report [Source 1]. That's a meaningful range figure if it holds up in real-world Australian conditions, and the three-row format puts it squarely in the "family hauler" category that's been dominated by a handful of models for the past couple of years.
Skoda sits within the Volkswagen Group ecosystem, which means shared platforms, established parts networks, and — importantly for buyers — a brand that already has a dealer footprint in Australia. None of that guarantees it'll be a great car, but it does reduce some of the risk that comes with lesser-known EV entrants.
What this means for novated lease customers
If the Peaq lands in Australia before 1 April 2025 FBT-year thresholds are revised — and assuming it's priced under the luxury car tax threshold — it would likely qualify for the electric car FBT exemption under the current rules, making it a zero-FBT vehicle for eligible PAYG employees. That exemption is what makes EVs genuinely compelling under a novated lease right now: your employer pays the lease from your pre-tax salary, and no FBT is applied to the benefit, which can translate to real, compounding savings over a three-to-five year term.
The catch, as always, is pricing. Seven-seat EVs with serious range tend to sit at the premium end of the market. If the Peaq is priced above the luxury car tax threshold (currently $91,387 for fuel-efficient vehicles in the 2024-25 year), the FBT exemption still applies — but you'd pay LCT on top of the purchase price, which affects your capitalised cost and therefore your lease repayments. We don't have confirmed Australian pricing yet, so this is a watch-this-space situation. Keep an eye on official Skoda Australia announcements before making any decisions.
The competitive context also matters. The Kia EV9 and Hyundai Ioniq 9 are already available and have established novated lease pricing. The Peaq will need to justify itself on value, not just specs, to win over buyers who could already drive away in a tested alternative today.
Common questions
Will the Skoda Peaq qualify for the EV FBT exemption in Australia?
Based on what's been announced, the Peaq is a battery electric vehicle, which is the vehicle type covered by the current FBT exemption. However, eligibility also depends on Australian pricing relative to the luxury car tax threshold. Confirmed local specs and pricing haven't been released yet, so we'd recommend waiting for official Skoda Australia details before assuming it qualifies.
How does the Peaq compare to the Kia EV9 or Hyundai Ioniq 9 for a novated lease?
All three are three-row electric SUVs that would likely fall within the FBT exemption if priced appropriately. The EV9 and Ioniq 9 are already on sale with established residual values and lease pricing, which makes them easier to model right now. The Peaq's advantage — if it's priced competitively — could be the VW Group parts and service network alongside potentially stronger range figures.
When will the Skoda Peaq be available in Australia?
No confirmed Australian on-sale date has been announced as of this article. The global unveil happened in mid-2026, but local launch timelines often lag the global reveal by six to twelve months. We'll update this page when Skoda Australia confirms details.
Can I include running costs in a novated lease for an EV like the Peaq?
Yes. A fully maintained novated lease typically bundles registration, insurance, servicing, and electricity or charging costs into your pre-tax repayments. Because EVs attract no FBT under the current exemption, more of those costs effectively come from pre-tax dollars, which is where the potential tax saving lives.
Is 647km of range realistic for Australian driving?
Manufacturer range figures are typically measured under the WLTP test cycle, which tends to be optimistic compared to real-world use — particularly at highway speeds or in hot climates. A practical rule of thumb is to discount WLTP range by 15–25% for everyday driving. Even so, a strong WLTP figure gives you more buffer, which matters for families doing long regional trips.