Genesis, Hyundai’s luxury arm, used the 2024 New York International Auto Show to announce a new performance sub-brand, Magma. (Unfortunately, the reveal was in fact not said in a Dr. Evil voice.)
At the highest level, the move marks a clear escalation in Genesis’s efforts to build recognition as a performance-minded brand and further compete head-to-head with the likes of Mercedes and BMW for luxury car buyers.
Details about the initiative at this point are still thin, but here’s what we know now.
The Genesis GV60 Magma concept is the first Magma model
No technical drivetrain details were shared about the all-electric crossover, but we know it’s based on the same electric platform as the excellent Hyundai Ioniq 5 and Kia EV6 EVs.
It’s not a stretch then to expect the new ride to match the capabilities of performance editions of both electric vehicles such as the Kia EV6 GT, which Gear Patrol‘s Tyler Duffy described in his review as “quicker than a Porsche at less than half the price.”
Genesis has also confirmed that the vehicle won’t be region-limited and that the concept shown is very close to the final production version.
Aesthetically, a fews tweaks to separate it from its non-Magma counterparts. These include a unique front bumper, a spoiler and bolder wheel arches.
Genesis states that at least some of the changes have functional benefits, too. Larger front air intakes, for example, help cool batteries faster to maintain prolonged performance.
Photos of the interior weren’t shared, but we do know the seats will feature contrasting orange stitching (shocker).
