Genesis confirms £75k price for GV60 Magma

Orders open soon for Genesis performance flagship; colours other than orange are available...

By Matt Bird / Thursday, 28 May 2026 / Loading comments

There hasn’t really been a good time this decade to launch a performance EV in the UK as a niche manufacturer - you might argue there never will be - but mid-2026 really doesn’t look favourable at all. Still, nothing ventured, nothing gained and all that - at least the 650hp Genesis GV60 Magma has made it to production. And now we know exactly what the Ioniq 5N’s crazier cousin is going to cost: £75,915 in the UK, with orders open soon and deliveries presumably not far behind.

Your sharp intake of breath probably mimicked ours. But the GV60 was always going to cost more than the Ioniq 5N, because Genesis is Hyundai’s premium brand. With the 5 already on sale at £65,800, at least £70k seemed guaranteed. Add to that just the single ‘high value’ Magma spec - complete with 10-way adjustable seats, the 27-inch panoramic display and 21-inch forged wheels - and it’s a little easier to understand how that final figure was reached.

Clearly, however, it’s still a lot. And it’s hardly like the Ioniq 5N, at £10k less, from a more established brand and introducing a lot of the tech the ‘60 also makes use of, is an everyday spot. While the Magma is a tricky car to pigeonhole as a very dedicated performance variant of a sort-of SUV, there are alternatives around: a 516hp Macan 4S is £77,100, the tri-motor Alpine A390 GTS is £69,390, and if an SUV shape isn’t essential, the BMW i4 M60 - all 600hp of it - is from £71,525. Probably there’ll be an options spend required on the German cars for spec parity with the Genesis, but the point still remains. Those who want a fast EV at around the price of a GV60 Magma have plenty to choose from.

Anyone who does go for a Genesis will have nine colours to pick from; Alta White is the only standard paint, with Magma Orange, Makalu Grey, Makulu Grey Matte, Saville Silver, Ceres Blue Matte, Matterhorn White Matte, Uyuni White and Vik Black all optional. The interior decision is between Magma Orange or Ash White stitching for the Obsidian Black trim.

So it really is happening, then. And, while likely to remain a niche seller, a car that borrows so much of what made the Ioniq 5 N great - simulated sounds and shifting, monster brakes, Drift Mode - sounds pretty good. And though you’ve probably never seen one, the standard GV60 is actually a decent EV.

Ben Sargeant, Genesis UK Director, said: “GV60 Magma marks a new chapter for Genesis. It embodies everything Genesis stands for: bold design, advanced technology, and a new interpretation of luxury performance. With a clear focus on true driver centricity, this car delivers the most compelling and rewarding driving experience.” Without wishing to state the obvious, either, a Magma isn’t going to stay £75k for those intrigued but unable to stretch to that - there are 600-mile 5Ns for sale at almost £20k off…