Over the past ten years, Genesis’ sales have grown “faster than any luxury marque in history,” according to Hyundai’s CEO. With several new vehicles launching in new segments, Genesis plans to become more than just a luxury brand over the next decade.
Genesis plans to evolve into more than a luxury brand
Since introducing its first vehicle in 2015, Genesis has sold nearly 1.5 million vehicles globally, a figure Hyundai Motor CEO José Muñoz claims is “faster than any luxury marque in history.”
While it is quite the accomplishment, Genesis has much more planned over the next decade as it aims to become more than another luxury brand.
After launching its first high-performance vehicle, the GV60 Magma, Muñoz took a shot at luxury rivals, saying (via Autocar), “This is remarkable: some people are talking about Tesla and some about Lexus, or other companies. And we said to ourselves: ‘Hey, how long did it take them to reach one million sales?”
Genesis’s creative chief, Luc Donckerwolke, explained during the event that by launching Magma, it plans to evolve into a “luxury high-performance brand” over the next decade.
The GV60, the brand’s first dedicated EV, is also the first vehicle to launch as a Magma model. Like the Hyundai IONIQ 5 N and Kia EV6 GT, the Genesis GV60 Magma is equipped with a dual-motor all-wheel-drive (AWD) powertrain, delivering a combined 650 horsepower (478 kW) and 790 Nm of torque (when boost mode is engaged), making it the most powerful Genesis vehicle yet.
The GV60 Magma can accelerate from 0 to 200 km/h (0-124 MPH) in just 10.9 seconds with a top speed of 264 km/h (164 MPH).
Genesis Magma vehicles will compete with BMW M and Mercedes-AMG, but Donckerwolke stressed that they will be unique.
“We are a young brand, and we have to appeal to customers,” he said, adding, “If you are in an environment where people can choose between different brands, you have to have all the facets of the brand. You have to be luxurious, you have to be sporty, you have to be cool.”
Rather than being a separate sub-brand, all Genesis models will receive a Magma model as the top trim option. Genesis has previewed other upcoming Magma models, including the G70, G80, GV80, and G90, as well as the stunning Magma GT concept.
What’s coming next
While Genesis aims to become a high-performance luxury brand over the next decade, it will launch new vehicles across several new segments.
Although it initially planned an all-EV lineup, Genesis will introduce its first hybrid in 2026, followed by an extended-range electric vehicle, likely in 2027.
Despite another recent delay, the flagship GV90, its full-size electric SUV (pictured on the left)_, is still expected to make its official debut. After that, Genesis has a luxury off-road SUV coming that’s based on the X Gran Equator Concept (picture on the right). It’s expected to arrive as a 2027 model.
In the US, Genesis outsold Nissan’s Infiniti for the first time while closing the gap with Ford’s Lincoln and Acura.
Although it hasn’t seen the same success in Europe, Donckerwolke said that will soon change. The luxury brand aims to grow sales in Europe by 650% over the next five years.
FTC: We use income earning auto affiliate links. More.
