Skoda Peaq EV: Is This Seven-Seater Worth a Novated Lease?
The 2026 Skoda Peaq EV is here — 647km range, three rows, and a price likely to undercut the Kia EV9. Here's what Australian PAYG employees need to know.
A new contender just dropped in the electric seven-seater segment. The 2026 Skoda Peaq has been officially unveiled, promising up to 647km of range and three rows of seating — going head-to-head with the Kia EV9, Hyundai Ioniq 9, and Volvo EX90, according to the EVcentral report [Source 1].
For Australian PAYG employees with families, that's a meaningful development. The seven-seat EV space has been dominated by vehicles pushing into — or well past — the $100,000 mark. Skoda has historically positioned itself as the value-minded sibling of the Volkswagen Group, so if the Peaq lands with sharper pricing, it could open up the family EV category to a wider pool of novated lease customers.
Australian pricing and a confirmed on-sale date haven't been announced yet. But given the Peaq's platform roots in the VW Group's MEB architecture, local availability is a reasonable expectation once the global rollout progresses.
What this means for novated lease customers
Here's the part that actually matters if you're a salaried employee: any eligible EV delivered after 1 July 2022 and priced under the luxury car tax threshold is currently exempt from fringe benefits tax (FBT) under the Australian Government's EV FBT exemption. That exemption is what makes novated leasing on an EV genuinely compelling — you're running pre-tax dollars through your lease, and there's no FBT on top of it.
The Kia EV9 and Hyundai Ioniq 9 are already proving popular through novated leases precisely because they sit in — or close to — that sweet spot of practicality and LCT-threshold eligibility. If the Skoda Peaq lands at a competitive price point, it could slot into the same conversation. A three-row EV with serious range, potentially at a lower entry price than established rivals, is the kind of vehicle that tends to make the novated lease maths look attractive.
That said, we won't know the real numbers until Skoda Australia confirms local pricing. Don't let anyone — including us — sell you on a specific saving until the driveaway figure is on the table. What we can say is: it's worth watching, and if you're currently weighing up a Kia EV9 or Ioniq 9 on a novated lease, the Peaq is now a legitimate name to add to your shortlist.
Common questions
Is the Skoda Peaq available in Australia yet?
Not yet. The Peaq was globally unveiled in mid-2026, but Skoda Australia has not confirmed pricing or a delivery timeline. Keep an eye on official Skoda Australia announcements before making any decisions.
Would the Skoda Peaq qualify for the EV FBT exemption?
Potentially yes — if it's delivered after 1 July 2022, classified as a car for FBT purposes, and priced under the luxury car tax threshold at the time of delivery. Final eligibility depends on the Australian driveaway price, which hasn't been confirmed. Always verify with a licensed adviser before committing.
How does the Skoda Peaq compare to the Kia EV9 for a novated lease?
On paper, both offer seven seats and strong range. The Kia EV9 is already available and priced in Australia, so you can model the numbers today. The Peaq is a future option — it may offer a cost advantage, but that's speculation until local pricing lands.
What is a novated lease and why does the FBT exemption matter?
A novated lease is a three-way agreement between you, your employer, and a finance provider. Your lease repayments and running costs come from your pre-tax salary. For eligible EVs, the FBT exemption means you don't pay the usual tax on that benefit — which is where the real saving potential sits for PAYG employees.
Can I lock in a novated lease on a car that hasn't arrived in Australia?
Yes — many lenders allow you to structure a novated lease on an incoming vehicle before delivery. The FBT exemption eligibility is assessed at the time of delivery, not when you sign. Talk to a licensed novated lease provider before placing a deposit so you understand how the timing works.