Is it a petrol vehicle? Is it an EV? No, it’s the plug-in hybrid, and it does both!

Also known as PHEVs, these cars have been selling like hotcakes as more Aussies embrace the electric car transition and cleaner energy vehicles.

PHEVs can only access the Federal Government EV Discount up until 31 March 2025. The discount allows you to lease an eligible PHEV before this date and make all lease payments from your salary before tax is taken out, which could lower your taxable income by thousands.

If you’re thinking about a plug-in hybrid novated lease, make sure your novated lease is finalised and the car is in your hands before 31 March 2025 to take advantage of the EV Discount. Now’s the time to start making plans for a PHEV novated lease!

Check out the top 5 best-selling plug-in hybrid vehicles with our customers.

1. Mitsubishi Outlander PHEV

An all-rounder medium SUV with up to 84km electric driving range for everyday drives, plus an extended hybrid petrol engine for bigger adventures. With a spacious interior and a range of high-tech features, it balances efficiency with practicality for families and commuters alike.

2. Mitsubishi Eclipse Cross PHEV

This compact SUV combines a sleek, modern design with up to 54km of electric range. Its smaller size makes it a practical choice for urban driving, while still offering ample cargo space and advanced safety features.

3. MG HS +EV PHEV

The MG HS +EV is a family-friendly PHEV with up to 63km of electric driving range. Step inside to the spacious interior cabin, decked out with luxurious Bader Leather sports seats and eye-catching red stitching. The HS+ EV also features a 6-speaker 3D sound system and Panoramic Stargazer Sunroof.

4. Mazda CX-60 PHEV

Enjoy plug-in hybrid driving in the Mazda CX-60 electric range of up to 76km, and a recharge time of just 2.5 hours on an AC charger with a type 2 port. The Mazda CX-60 also features intuitive technology that understands your driving needs, including automatically adjusting seat and wheel positions, custom temperature settings and facial recognition technology.

5. BYD Sealion PHEV

The first plug-in hybrid from electric vehicle giant BYD. This medium SUV integrates a 1.5 litre high-efficiency hybrid engine with the BYD Blade Battery and can drive up to 92km on the electric battery for the Dynamic variant. The Sealion is packed with features including keyless entry, heated front seats, a panoramic sunroof, plus Apple Carplay® and Android Auto™ capability.

PHEVs vs EVs

Plug-in hybrids have an electric and petrol driving mode. The electric driving range on most models is under 100km, so for longer travel or road trips, the petrol engine is always there for back-up.

Both PHEVs and EVs can be plugged into a wall outlet or charging station to charge their battery.

The EV Discount and FBT exemption

Thanks to the Federal Government EV Discount, eligible EVs are exempt from paying Fringe Benefits Tax. Running costs, such as servicing and fuel, are also exempt from FBT.

The existing legislation states that PHEVs will not be eligible for the EV Discount after 31 March 2025. Don’t miss out on huge potential tax savings on your PHEV!

Use our novated lease calculator to estimate your savings

Still not sure about novated leasing? Discover how much you could save on the cost of a car through our handy novated lease calculator.

Simply enter your vehicle budget, car type, lease length, KMs travelled per year and your annual salary to see an estimate of your savings.