Currently reading: Genesis GV60 Magma is UK-bound as hot £100,000 EV
Electric crossover will likely share much with the Hyundai Ioniq 5 N, including its 641bhp powertrain

Genesis will start building a hot new version of its GV60 electric crossover later this year – and it’s tipped to nudge towards £100,000 when it lands in the UK. 

The track-inspired take on the high-riding hatchback – revealed as a concept earlier this year – is the first car from the Korean maker’s new Magma performance brand, touting Hyundai Ioniq 5 N performance but tuned specifically for the “gentleman driver”.

Tipped for a production-spec debut at the Goodwood Festival of Speed, the GV60 Magma is expected to adopt much of its hot Hyundai sibling’s underpinnings, including its 89.0kWh battery and 641bhp dual-motor powertrain. 

In the Ioniq 5 N, which shares the same E-GMP platform, this is good for 278 miles and a 3.4sec 0-62mph sprint.

Autocar understands this new model will be sold for as much as £100,000. The standard GV60 can be specced as high as £77,000.

Asked about how Magma cars will be tuned, vehicle development chief Tyrone Johnson – known for his work on the Ford Focus RS and Hyundai i30 N – told Autocar: “They will be built for the gentleman driver. This is not just about speed: it is about driving from A to B in an exciting, enthusiastic way.

“Speed is becoming much less important: it is no longer the one and only thing. We do not want to think about power, or push for specific power figures [such as breaking 1000bhp]. 

“This car will have enough power, probably more than owners will ever use.”

Driving engagement is another key pillar of the Magma brand, he said, suggesting the Ioniq 5 N’s artificial gearchanges and engine noise could be brought over.

“The characteristics of a car are not just made by the powertrain. Software is probably now just as important,” he told Autocar. “We can create motion cues, like the gearchanges and engine noise, as a sense of communication. It is more than just a fun gimmick.”


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However, despite the similarities, Johnson stressed that Magma should not be compared with Hyundai’s N brand, instead suggesting that the relationship between the two firms is similar to that between BMW’s M division and Alpina. “It’s about mixing Korean premium with European sportiness,” he said.

Chief designer Luc Donckerwolke agreed, saying the Magma cars – while more outlandish than their standard counterparts – are designed more for function than form.

“Magma is not just about style,” he said. “I hate style. Style is superficial. Nothing will be added to a car that ‘could be cool’: forget about it. It will be ‘cool’ because it works.”

There will also be no specific Magma badging. “We will instead black-out the Genesis logo,” said Donckerwolke. “We believe this is enough. It is like wearing a fur coat inside out.”

Following the GV60, which could hit showrooms by the start of next year, every car in the line-up will get a Magma derivative, Donckerwolke confirmed. Given that Genesis will launch just electric cars in Europe from next year, only Magma EVs will be offered here.

Looking ahead, the moniker could even spawn its own model line-up in the future, Donckerwolke said, similar to Cupra’s breakaway from Seat. He added that two models, one being the striking X Gran Berlinetta Concept, are already being assessed.

Will Rimell

Will Rimell
Title: News editor

Will is a journalist with more than eight years experience in roles that range from news reporter to editor. He joined Autocar in 2022 as deputy news editor, moving from a local news background.

In his current role as news editor, Will’s focus is on setting Autocar's news agenda; he also manages Autocar Business and Haymarket's aftermarket publication CAT.

Writing is, of course, a big part of his role too. Stories come in many forms, from interviewing top executives, reporting from car launches, and unearthing exclusives.

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jason_recliner 25 June 2024
It seems too much until you realise a 4 cylinder 5 series is £75k in your country.
MisterMR44 21 June 2024

I like it... but it's simply too much money for what it is. The Ionic 5N I also like and I think that's also too much money... and it's £30k less than this. I'm not sure they've thought this one through.

shiftright 21 June 2024

Sorry Genesis, as interetsing as this is, you're not quite there yet to ask $100K for anything you make.