As the luxury arm of Hyundai Motor Group, it makes sense that Genesis’ take on the Hyundai Ioniq 5N, the GV60 Magma, would be much more expensive than its pedestrian brother. But that didn’t happen, and I’m happy. Genesis recently dropped the price of its long-awaited hot luxury EV, and it starts at an aggressively reasonable $71,495 including destination. That’s only $9,995 more than the Ioniq 5 N. I know, it’s shocking.
You also have to keep in mind that the difference between the two cars would have been even smaller had Hyundai not dropped the price of the Ioniq 5 N by $6,300 in early July. No matter how you look at it, the GV60 Magma is a pretty sweet deal. It has an aggressive but handsome look that is definitely a departure from the more boy-racer nature of the Ioniq 5 N. The standard Magma (read: Jalopnik) orange paint definitely helps with this approach, but if that’s not for you, please feel free to choose between white, black, or matte gray. On the inside, passengers get Genesis’ first performance-oriented front seats as well as microsuede and Obsidian Black upholstery and plenty of amenities. Jalopnik Orange accent stitching. There’s also a unique digital gauge cluster, which shows your (admittedly fake) tachometer and all the other information you could ever want.
Adding to the almost shocking level of deal presented by the 641-horsepower GV60 Magma is the fact that it’s actually cheaper than the 483-hp. GV60 Performance AWD currently on saleAnd that car is a lot less special. It starts at $73,370 including destination. It’s unclear whether Genesis is going to adjust the price of the Performance AWD to bring it down from the Magma, or whether the Magma will replace it entirely — a Genesis spokesperson told us that information about the rest of the GV60 lineup for the 2027 model year is coming soon. Currently, the rear-drive base-model 2026 GV60 is priced at $54,020, and the Advanced AWD trim is priced at $60,900.
red hot lava
Of course, some will argue that any increase in the price of the Ioniq 5 N is a waste of money, as they are essentially the same cars underneath. Both make a combined 641 hp and 583 pound-feet of torque from their dual-motor setup, but the GV60 Magma has an extra little trick: Boost Mode. Activate it, and the Magma gives the driver an additional 15 pound-feet to hunt down slower drivers – which is very important in this day and age. Don’t forget, there are other features like drift mode, launch control, and simulated shifts with virtual cockpit sounds.
Produce
One thing that doesn’t change between the two cars is the battery. Both come from the same 84-kWh pack, although Genesis hasn’t specified any range numbers yet. That being said, we can get some information from the Ioniq 5 N. The EPA rates that car at 221 miles of range, and it can recharge from 10 to 80% in about 18 minutes with DC fast charging at 350 kilowatts.
The GV60 Magma really looks stunning, and we can’t wait to drive it. However, there’s a catch right now. The small electric crossover will initially be available in only three states: California, New York, and God’s favorite, New Jersey.
