Genesis GV60 Magma Could Cost Ioniq 5 N Money When It Reaches America

The GV60 Magma Rollout

The Genesis GV60 Magma made its world premiere late last year alongside the stunning G90 Wingback prototype. It's given us an idea of what to expect from the luxury brand's newly formed performance division, and there will be many more models should things fall into place.

It's now available in its home market and is making its way across Europe. The U.S market will have to wait a little longer, though, as the performance EV crossover won't reach American showrooms until summer 2026. Still, we can at least gauge how much it could go for, judging by prices abroad.

It's Not Exactly Cheap in the U.K.

The hot EV is now available in England, and it's not exactly cheap. Of course, we already expect that given its impressive stats and luxury-performance positioning, but it's still a bit of a surprise. Across the pond, the GV60 Magma carries a price tag of £75,915 before options.

Convert that to U.S. dollars, and that's about $102,000 at current exchange rates. Before you groan, do note that car prices in Europe aren't exactly low. On average, they are higher than U.S. pricing, so we're looking at the highest possible price for it. It's also worth saying that it won't be uniform pricing all over Europe, as it'll depend on local taxes, tariffs, and import costs.

What About the Home Market?

Of course, the GV60 Magma is a lot less expensive in South Korea. After all, it's already built there, so there's not much in the way of additional costs. In its home market, the rapid crossover starts at 98,000,000 won. It sounds like a lot, but its price, converted to U.S. dollars, may surprise you.

If we're going for direct conversion, the GV60 Magma comes in just under $65,000. For reference, the Ioniq 5 N carries a base price of $66,200 in the U.S., giving you an idea of how much cheaper Korean cars are at home. For those curious, that same car is 77,690,000 won in South Korea, or approximately $51,500.

Somewhere in Between

So, we possibly have the two pricing extremes. How does this bode for pricing in the U.S.? To gauge it, let's look at the price difference between the entry-level model and the Magma. In Korea, the GV60 starts at 68,360,000 won, or around $45,300, making it about 30% less expensive than the Magma.

If we were to apply that to potential U.S. pricing, we could start with the GV60's base price. Slap 30% on top of the base model's $52,525 price tag, and that's an additional $15,758. That's about $68,283, which doesn't seem too bad but is dangerously close to the Ioniq 5 N. With that, there's a good chance the GV60 Magma will go over $70,000. A safe estimate would be $75,000, putting enough of a gap between it and its Hyundai counterpart.

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