Deepal’s quirky E07 ute will be eligible for an FBT exemption, so can it be as big a hit as the BYD Shark?
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Though the BYD Shark 6 has proven plenty popular with Australian buyers so far, the end of the Fringe Benefit Tax (FBT) exemption for plug-in hybrids could see it fall down the sales charts.
But there is a new ute model that local buyers can still leverage for cheaper novated leasing.
Enter the 2025 Deepal E07, an all-electric SUV that can transform into a ute thanks to its unique tailgate.
Electric vehicles (EVs) are still subject to the FBT exemption so long as they fall under the luxury car tax (LCT) threshold, meaning customers can save when buying through a novated lease.
In general, this puts the monthly price of an EV like the Deepal E07 more in line with leasing an entry-level diesel dual-cab ute, despite electric cars attracting a much higher retail price.
Speaking to Drive at the 2025 Melbourne Motor Show, Deepal Australia General Manager Cormac Cafolla would not be drawn on sales expectations of the E07, but is aware it leans more towards a lifestyle vehicle rather than full-on workhorse – similar to the perception of the BYD Shark 6.
“We talk about this being a cross between an SUV and a ute, but I don’t think you can necessarily compare it directly with the Shark,” Cafolla said.
“The Shark has been an incredible success, and congrats to BYD.
“We look at this product [E07] as a fully electric vehicle – it sits in a different segment and it offers different things.
“A full ute is not for everyone, perhaps something that offers that versatility and variability is.
“We think this is a car that will excite the market, not just the electric vehicle market, but it might just shake up a few to reconsider whether EVs are right for them.”
For context, BYD has shifted 4836 units of its Shark 6 so far this year, with its biggest month in March likely due to the wind-down of the FBT exemption for PHEVs at the end of that month.
The Shark 6 is priced at $57,990 before on-road costs, while the E07 kicks off from $64,900, but offers an all-electric powertrain compared to the plug-in hybrid of the BYD.
When questioned if customers would use the so-called ‘ute’ like a workhorse, Cafolla said there will be some utilitarian application for the E07, but left it open-ended for the customer to explore its limits.
“Depends on how hard you want to work it, I mean 220-millimetre ground clearance, electronic air suspension, will have elements of off-road capability,” Cafolla said.
“Not saying I’d take it up a mountain, but I think we have to explore its capability a bit more in Australia.”
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Tung Nguyen has been in the automotive journalism industry for over a decade, cutting his teeth at various publications before finding himself at Drive in 2024. With experience in news, feature, review, and advice writing, as well as video presentation skills, Tung is a do-it-all content creator. Tung’s love of cars first started as a child watching Transformers on Saturday mornings, as well as countless hours on PlayStation’s Gran Turismo, meaning his dream car is a Nissan GT-R, with a Liberty Walk widebody kit, of course.
