Debuting for the 2009 model year as the flagship sedan for the Hyundai lineup, Genesis became a standalone marque in 2015. Upon its 2008 debut, Hyundai Vice President for Product Development, John Krafcik, stated that the Genesis sedan “offers the performance of a BMW 5-Series, the interior packaging of a 7-Series at the price of a 3-Series”. It was considered bold at the time. Especially given that Hyundai was very much still proving themselves as a producer of mainstream models, let alone luxury vehicles.
As less established marques in the US, the related Hyundai and Kia brands have been providing more for less since their inception – in fact, it’s become grounded in their identity. From offering 10 year/100k mile warranties to undercutting the prices of competitors, it was hard to ignore their appeal. This rang particularly true in their first two decades stateside. But with a well-established and award-winning lineup, prices have risen, and value is no longer a crutch needed to sell their cars.
Genesis has likewise won praise, but there’s still a limited dealer network and still needs to grow name recognition which is not a concern from its nonluxury Hyundai and Kia cousins.
Differentiation
Genesis has succeeded in creating a lineup that is truly differentiated from its Hyundai counterparts – avoiding the platform-sharing missteps of American brands (Cadillac Cimarron anyone?) where aside from nicer trim, the luxury version was nearly identical to the mainstream model.
One thing Hyundai hasn’t done is create a ceiling for its brand since Genesis has been spun off as its own entity. The blurred lines of luxury have resulted in Hyundai creating models that push Genesis to be even better but also essentially puts the two in stylistic competition with one another. I typically lean towards the cleaner, sportier lines of Kia; However, Hyundai has stepped up its game recently. With the Hyundai Ioniq 5, Kia EV6, and Genesis GV60 EV trio, I am most drawn to the boxier, retro Italian hatchback look of the Ioniq 5.
Styling – setting the bar high
Since its inception, Genesis has been unapologetically luxurious in a traditional sense, even launching the brand with sedans as public preference shifted towards crossovers. From its winged badge to the quilted ivory leather and wood interiors, to the chrome trimmed exteriors, Genesis blends classic luxury with modern design – serving as an alternative to the minimalist design trends from Tesla and others. Genesis launched as an all-ICE lineup and their overall aesthetic certainly aligns more with the established ICE brands than the EV startups.
Naturally, it was interesting to see how Genesis approached its first (from the ground up) production EV – the GV60. At only 177.8 inches long, it’s the smallest of the trio. The EV6 and Ionic 5 are sized more in-line with the ICE powered Genesis GV70 which now has an EV version as well. Though the smallest, it is priced the highest.
In a world of look-alike SUVs, the larger Genesis GV70 and GV80 each have their own distinct look from other SUVs on the road as well as from one another, rather than an appearance of the same car at different scales a la Mercedes-Benz.
The first time I saw the GV80 was in concept form at the 2017 New York Auto Show and I was stunned. I had never seen an SUV with that shape and proportions before. If someone had told me it was a Bentley SUV, I wouldn’t have challenged them – and I pride myself on being tough to fool.
Typically, the production version bears little resemblance to the concept, but luckily Hyundai/Kia/Genesis have become quite successful at making these automotive fantasies a reality. That was until the GV60 came along…
Disappointing reality vs concept
At the 2019 New York Auto Show, Genesis debuted their Mini Cooper-sized “Mint” EV concept – outlandish as it was with trunk access via rear scissor doors, the Mint was Genesis demonstrating their interpretation of the luxury city car segment. With a front bench seat that pivoted towards the driver to aid entry and egress, this stylish 2-seater wasn’t exactly production ready.
I assume what started as a 2-door, sporty city EV turned into the 4-door crossover that is the GV60. It makes business sense, but I do wonder if the GV60 is still a little too niche, but without the character and fun of the Mint concept. Perhaps the Mint’s destiny is to be one of those many desirable vehicles that doesn’t make it stateside.
The GV60 is certainly unique, but not necessarily in a good way. There’s something off about the design, from its bug-eyed looking front to the lightning bolt on the back pillar, it feels like the designers tried to do too much with such a small car. It simply fails to evoke a clean sheet new design akin to the Ioniq 5, Ioniq 6, and EV 6.
Paying more for less?
As one of the smallest EVs in the Hyundai, Kia, Genesis lineup, the GV60 is clearly aimed at reaching a younger, more urban-based demographic than the buyers of their G80 and G90 sedans. However, the GV60 starts at the same price as the 10 inches longer Tesla Model Y Performance. The GV60 is certainly youthful looking and has some fun design elements – but more in the way the VW New Beetle did in 1998 than in a way that explicitly makes it feel worthy of a premium price tag. Starting at $59k for the Advanced package and $68k for the Performance package, the GV60 faces stiff competition.
With the GV60, Genesis undoubtedly wants to attract affluent millennials to the brand. Among many draws to the GV60, EV6, and Ioniq 5 is Level 3 DC fast-charging capability which sets these corporate cousins apart from their EV competition, enabling them to charge from roughly 10 % to 80 % in only 16 minutes from 350-kW chargers. This is particularly attractive to city-based buyers who do not have a designated garage or parking space with charging access.
If fast charging were exclusive to the GV60, it would more than justify the price premium. But seeing as that is not the case, who are the buyers for the GV60? While it is great for EV buyers that this capability is offered on all three models, it is something that other manufacturers may have previously only offered on their luxury model to start – a special feature to justify the price premium.
Who are the buyers?
Here’s the criteria I’ve established for the buyer of the GV60:
1) Open to paying up to (or over) $70k for an EV
2) Doesn’t require more than 300 miles of range/ Has already decided against buying a Tesla
3) Fast charging is critical
(This keeps Hyundai and Kia still on the table)
4) Desires more of a luxurious flare
5) Has a residence where street or garage parking is extremely tight and saving 8 inches in length could be a dealbreaker.
Once you narrow these items down, you aren’t exactly left with a volume leader for Genesis. Complicating matters is the internal competition faced by the Electrified GV70. By launching these two at almost the same time, Genesis effectively has 2 EV crossovers in the $60k range. However, the GV70, a Motor Trend SUV of the Year winner, is the more broadly appealing model.
The Electrified GV70 comes standard with the 429 HP powertrain with a starting price of $65,850. Which at first comes across as a $6500 premium to the GV60. However, the base GV60 starts at $59,290 has the 314 HP powertrain, stepping up to the 429 HP GV60 increases the price to $68,290 – making it more costly than the Electrified GV70. Thus, giving buyers even more reason to bypass the 60 and go right to the Electrified 70.
From the eye-catching competitors to the high bar set by Genesis’s other designs, the GV60 is a disappointment. While it will still more than satisfy the needs of many buyers, I am curious how much sales will be aided by the sheer desire for EVs combined with the supply chain delays. Genesis has gotten lucky in this regard, as they will probably attract buyers who simply can’t find, nor have the patience to wait for, an Ioniq 5 or EV6. My prediction is that this will get many GV60s on the roads until a substantial mid-cycle reskin occurs in a few years.
The South Korean triumvirate is exceptional when it comes to updating models - both in frequency and execution. With tangibles like price and size missing the mark, buyers need a captivating “it factor” to sign on the dotted line. I have no doubt Genesis will figure this one out.
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