The luxury brand taking the US by storm has a new secret weapon. Genesis is developing a new EV platform to challenge luxury rivals like Tesla and BMW. Unlike the GV60, the new Genesis EV platform is expected to be brand exclusive, separate from Hyundai models.
Genesis, Hyundai’s luxury brand, is quickly expanding in the US with a trio of long-range, elegantly crafted electric vehicles.
The luxury brand offers the GV60, Electrified GV70, and Electrified G80. Through the first half of the year, Genesis sold nearly 27% more electric cars in the US than last year. The growth comes as luxury rivals like Mercedes, Porsche, and Tesla lost ground in Q2.
Genesis remains a dark horse in the luxury EV market as it expands into new states. Despite the growth, Genesis is making a power move as it looks to cut into Tesla’s lead.
Its first EV, the GV60, is getting an upgrade in 2025 with a bigger battery and new design elements. Based on Hyundai’s E-GMP platform, the same underpinning its IONIQ 5 and IONIQ 6, the 2025 Genesis GV60 will feature slightly more range and faster charging.
Ahead of its official debut later this year, we caught our first glimpse of the updated GV60 testing in the US this week. New features include revised headlights and a redesigned front bumper (check out the video here). Meanwhile, Genesis has even bigger plans.
Genesis to unveil new exclusive luxury EV platform
Despite the improvements, the 2025 GV60 will be the last Genesis model to use Hyundai’s E-GMP platform.
According to Mike Song, the new global head of Genesis, and John Son, head of Genesis’ global product office, the luxury brand is developing its own EV platform, which will likely be exclusive from Hyundai.
Following the updated GV60, all new Genesis models will be based on the new platform. Hyundai officially announced it will reveal its first three-row electric SUV later this year. The Hyundai IONIQ 9 (three-row EV SUV) will be based on the E-GMP platform.
Hyundai’s sister company, Kia, launched its three-row EV9, also based on the E-GMP, last year. Kia’s EV9 is gaining momentum in the US, with nearly 10,000 models sold through the first half of 2024.
Kia is launching a series of smaller, affordable EVs. Its first, the EV3, starts at just $30,700 (KRW 42.08 million) in Korea. The Kia EV3 is also built on the E-GMP platform.
Genesis didn’t reveal any further details but said to expect more soon. Meanwhile, Genesis is launching the GV60 Magma, its first high-performance EV, next year.
Genesis plans to launch a Magma model as the top trim for each model, including an electric G80 (shown below).
Electrek’s Take
Can Genesis close the gap with Tesla and other luxury rivals in the US EV market? With the dedicated E-GMP platform and advanced software, Hyundai, Kia, and Genesis are already ahead of much of the competition.
Meanwhile, a new Genesis EV platform, exclusive to the brand, could help it gain an edge over rivals like BMW and Porsche.
Genesis remains a brand to keep an eye on as the US luxury segment shifts to electric.
What do you think? Can a new EV platform help Genesis outpace luxury rivals? Drop us a comment below to let us know your thoughts.
Source: Edmunds
