The company reports the first sales of the Genesis Electrified GV70.
April 16, 2023 at 10:19 a.m. ET
Genesis has markedly increased sales of all-electric cars in the United States this year, and the outlook for growth is promising.
Recall that the brand (the premium/luxury arm of Hyundai Motor Company) launched its first all-electric model in the US – the Genesis GV60 – less than a year ago. It now offers three all-electric cars, including one produced locally (the Genesis Electrified GV70).
According to data released by the broader Hyundai Motor Company, Genesis sold 572 electric cars in March, a new monthly record.
This includes a record number of 315 Genesis Electrified G80s, 212 Genesis GV60s and the first 45 Genesis Electrified GV70s.
In the first quarter of 2023, Genesis BEV sales totaled 937, more than in any previous quarter.
Genesis BEV sales to date:
- Genesis Electrified G80: 380
- Genesis Electrified GV70: 45
- Genesis GV60:512
- Total: 937
For reference, in 2022, Genesis sold 1,590 Genesis GV60s (the other two models appeared in the statistics this year).
The outlook for sales to continue to rise is good. The most important element is the Genesis Electrified GV70’s local production (in Montgomery, Alabama), which makes it eligible for the $7,500 federal tax credit. Eligibility for the incentive has been confirmed but may change in the future due to additional requirements.
The South Korean manufacturer reports that nearly 200 Genesis Electrified GV70s left the plant in March, including two firsts for export.
Here is the list of Genesis BEVs available in the US:
| model | Base price | Dest. load | Tax credit | Effective price |
| 2023 Genesis Electrified G80 AWD 19in | $79,825 | + $1,095 | N/A | $80,920 |
| Genesis GV60 Advanced AWD 2023 20in | $59,290 | + $1,125 | N/A | $60,415 |
| 2023 Genesis GV60 Performance AWD 21in | $68,290 | + $1,125 | N/A | $69,415 |
| 2023 Genesis Electrified GV70 Advanced AWD 20in | $65,850 | + $1,125 | $7,500 | $59,475 |
In the long term, Genesis will become a zero-emissions brand, with only electric cars in its lineup. According to the plan, we should expect a 100% electric line by 2030.
