The Genesis GV60 Magma costs $10,000 more than the Hyundai IONIQ 5 N

The GV60 Magma will begin arriving at dealerships soon. Priced $10,000 higher than the Hyundai IONIQ 5 N, is it worth upgrading to the Genesis?

2027 Genesis GV60 Magma EV prices

Genesis is preparing to launch the performance SUV in the US, the first from its Magma sub-brand. The GV60 Magma debuted over two years ago at the 2024 New York Auto Show and will finally begin arriving at dealerships in the coming weeks.

Starting at $69,950, the GV60 Magma costs $10,000 more than the Hyundai IONIQ 5 N, which is based on the same platform and shares most of its components.

Both are powered by a dual-motor all-wheel-drive (AWD) setup, packing a combined 600 horsepower and 546 lb-ft of torque. When Boost Mode is active, it unlocks up to 641 hp and 583 lb-ft of torque.

Like the IONIQ 5 N, the GV60 Magma features a Virtual Gear Shift (VGS) and e-Active Sound System that mimic the sounds and feeling of a gas-powered engine.

Both adopt a wider, lower stance and added aerodynamic enhancements to improve stability and handling.

While the GV60 has Genesis- and Magma-exclusive exterior design elements, the biggest difference is on the inside.

The GV60 Magma features Genesis’ first performance bucket seats, an Obsidian Black monotone suede interior, and Magma Orange stitching. The redesigned steering wheel includes dedicated buttons for Boost and Magma modes.

Other Magma-exclusive elements include alloy pedals, the gauge cluster, and a performance-oriented infotainment display.

As expected from Genesis, the interior adds a bit of luxury with a Bang & Olufsen sound system and a 27″ integrated OLED infotainment system.

Although EPA estimates have yet to be finalized, the Genesis GV60 Magma, which uses the same 84 kWh battery as the IONIQ 5 N, is expected to offer a similar range of around 221 miles.

Genesis will launch the first GV60 Magma models at select retailers in California, New York, and New Jersey in the coming weeks.

The GV60 Magma comes after Hyundai reduced the price of the 2026 IONIQ 5 N by $6,300 earlier this month.