Genesis pushes back EV-only plans

In response to slowing EV demand globally, Genesis has switched strategy and abandoned its plans to release only electric cars from 2025, and will now accelerate the development of hybrids.

Back in 2022, Genesis promised to deliver eight new EVs by 2030, in addition to the existing GV60 dedicated-electric small SUV, the Electrified GV70 mid-size SUV and the Electrified G80 large sedan.

Now, in wake of slower EV sales around the world, Genesis says it will introduce as many hybrid models as possible, before switching back to its EV-only plan at a later date.

“Customers now want hybrid more than EV,” the global head of Genesis, Mike Song, told Top Gear at the Goodwood Festival of Speed, where he admitted that Hyundai’s premium brand thought the “EV era would arrive very quickly”.

Song said the original 2025 EV-only plan was aimed to ensure that Genesis would be both a “leader and disruptor in the EV space”, but that a different plan was now needed.

He said Genesis will now develop “as many models as possible” but did not reveal which electrified vehicles were in the pipeline.

However, earlier reports suggested the GV70 would get a range-extender hybrid powertrain for the US 2026 model year, meaning it might be launched as soon as next year.

Recently, Genesis teased a ferocious new V6 hybrid powertrain in both the wild 787kW Genesis X Gran Berlinetta and the even wilder 1148kW Genesis X Gran Racer Vision GT hypercar concepts.

It’s thought a detuned version of the hypercar powertrain is now destined for production – either in the new high-performance Magma range or the G80 limousine.

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