Genesis GV60 Magma brings Ioniq 5 N-level performance to luxury EV

With Ioniq 5 N underpinnings, the Genesis GV60 Magma adds luxury to the performance recipe

Korean luxury brand Genesis will push into the performance EV space thanks to know-how developed by sibling brand Hyundai’s N division – starting with the GV60 Magma.

Labelled “a new dimension to Genesis”, Magma will be the brand name applied to a line of high-performance models that will be available in a signature magma orange paint.

Officially a late-stage concept, Genesis showed the GV60 Magma to media in advance of this week’s 2024 New York auto show.

Say hello to the bright, high-powered GV60 Magma

It confirmed that the GV60 Magma concept “will be among the Genesis Magma program models headed for production.”

At the same event the brand also showed the G80 Magma Special, a V6 petrol-powered high-performance sedan destined for sale in the Middle East.

Unlike that combustion sedan, the GV60 Magma builds on the underlying car’s fully-electric powertrain with standard dual-motor AWD.

While figures were not confirmed, power is expected to match or even exceed the related Hyundai Ioniq 5 N’s 430kW (576 horsepower).

The Magma badge will be put on several Genesis models going forward

Like the Ioniq 5 N, which shares its platform and many mechanical components with the GV60 Magma concept, the Genesis model features bespoke motors and substantially uprated cooling.

It’s visually noticeable in the three stamped holes above the enlarged main air intake – the beefed-up inverter that takes the place of the regular GV60’s frunk needs the additional cooling.

Also clearly visible are enlarged fenders which increase brake cooling for the huge discs that sit beneath 21-inch wheels.

Genesis GV60 front 3/4 2023 — The current Genesis GV60 on sale in Australia

Inside, new nappa and suede diamond-stitched bucket seats have an extravagant flourish: the seatback is painted in the vehicle’s exterior colour, being magma orange in the case of the concept.

When it arrives in production form, the GV60 Magma will be a high-performance foil to rivals like the Mercedes-AMG EQE53 on the luxury end, and the Tesla Model Y Performance in the mainstream EV market.

Pricing will likely be well north of the current GV60 Performance AWD model which retails for $113,375 before on-road costs in Australia.

The related Hyundai Ioniq 5 N – the most expensive Hyundai ever sold in Australia – lists for $111,000 before on-road costs.