Hyundai Motor’s luxury division Genesis marked its 10th anniversary with the debut of the GV60 Magma, the brand’s first high-performance production vehicle, signaling its ambitions to compete directly with premium European marques in the fast-growing electric performance segment.
The GV60 Magma was unveiled at Circuit Paul Ricard in southern France as the first model under Genesis’s newly created high-performance label “Magma.” Company officials said the Magma program is designed to evolve into a full-fledged performance sub-brand, akin to BMW’s M, Mercedes-AMG, or Lexus F lines.
Luc Donckerwolke, Hyundai Motor Group’s Chief Creative Officer, said the Magma series would emphasize refined, balanced driving experiences rather than chasing outright acceleration or top speed. “Magma is not just about raw output. It’s about confident performance that feels natural and composed across the entire drive,” he said during the premiere.
The launch represents a new chapter for Genesis, which entered the U.S. and global markets in 2015 with the flagship G90 sedan. Over the past decade, the brand has expanded its lineup with the G70, G80, and GV80 SUV, and has steadily gained recognition for its design, craftsmanship, and value-driven luxury appeal. It surpassed 1 million cumulative global sales in 2023 — the fastest such milestone among modern luxury automakers.
Genesis’s high-performance strategy follows a series of brand-building efforts in Western markets. In the U.S., it has been the title sponsor of the PGA Tour’s Genesis Invitational since 2017, and its GV80 and GV70 SUVs have positioned it as a credible alternative to German rivals in the mid-size luxury segment.
With the GV60 Magma, Genesis is moving deeper into the electric performance space, an area where traditional automakers are now confronting both Tesla and high-end EV newcomers. The Magma program was first announced in March 2024 as part of Genesis’s vision for its next decade of growth. In December, the company will formally launch Genesis Magma Racing (GMR), establishing a foothold in motorsports.
Genesis aims for the Magma lineup to eventually represent around 5% of its projected global annual sales of 350,000 units by 2030.
The GV60 Magma is based on the existing GV60 electric crossover but features upgraded performance tuning, design elements, and chassis modifications — though full technical specifications have yet to be released.
While Genesis still faces brand-recognition challenges in the U.S. compared to legacy European competitors, its rapid ascent and Hyundai-backed engineering platform have drawn increasing attention from consumers and analysts alike. The addition of a dedicated performance line may further help it stand out in a saturated luxury EV market.
