Genesis has officially revealed pricing for its first dedicated high-performance model, the 2027 Genesis GV60 Magma, and it's more affordable than many expected. Starting at $71,495, the electric SUV delivers an impressive 641 horsepower, positioning itself as a serious rival in the growing performance EV segment while undercutting earlier price estimates of around $80,000.

The GV60 Magma is the first production vehicle from Genesis' new Magma performance division, which was first previewed with a concept unveiled at the 2024 New York Auto Show. Although it shares much of its technology with the Hyundai Ioniq 5 N, Genesis has given the SUV its own personality through a more refined design, premium interior and unique driving character.

Visually, the 2027 Genesis GV60 Magma combines sporty styling with luxury. A lower stance, aggressive front fascia and compact rear spoiler give it a more athletic appearance without becoming overly dramatic. Buyers can choose from four exclusive exterior finishes: Magma Orange, Uyuni White, Vik Black and Makalu Gray Matte. Inside, the cabin features Genesis' first performance seats, microsuede trim, Obsidian Black upholstery with orange stitching, and exclusive digital displays with dedicated performance controls.

Performance is where the Magma truly stands out. Every model includes Boost, Drift, GT and Sprint modes, along with launch control for maximum acceleration. Drivers can also activate simulated engine sounds and virtual gear changes to create a more engaging driving experience—or leave both systems turned off for a traditional EV feel.

Is the 2027 Genesis GV60 Magma the perfect blend of luxury and performance? And can it justify its higher price compared with the Hyundai Ioniq 5 N? Initially, the new model will only be available through Genesis dealers in California, New Jersey and New York, making it an exclusive offering for its first wave of customers.