Genesis is preparing the GV70 as its SUV electric vehicle. The Genesis GV60 is scheduled for release at the end of the year; however, the GV60 is a CUV type. It appears that the GV70 will serve as Genesis's first electric vehicle. Hyundai also referenced this during their IR event, indicating that both the CUV EV and the GV70 EV were mentioned.

Currently, the Genesis brand offers the Electrified G80 (the electrified model of the Genesis G80) as its first electric vehicle model. The term "electrification" refers to a model derived from an existing internal combustion engine platform that has been converted into an electric vehicle. Following the Electrified G80, Genesis is focusing on developing the GV70 electric vehicle (electrification) model.

Images of the GV70 electric vehicle (electrification) model, known as spy shots, have surfaced in online communities and forums.

The foreign media outlet Top Speed has speculated on the GV70 electric vehicle's specifications by referencing the G80 electrification model. They stated that the GV70 could achieve a 0 to 60 mph time of 4.9 seconds and could charge from 10% to 80% in just 22 minutes using a 350 kW charging system.

With a single charge, the expected driving range is 265 miles, and the powertrain is anticipated to deliver 400 horsepower and 650 Nm of torque. Top Speed also predicted the pricing; the GV70 will range from $40,000 to $60,000 based on options, while the electric version is expected to be around $65,000. This converts to approximately 77 million KRW.

Hyundai has reportedly filed a trademark application for the Electrified GV70 with the patent office. This suggests that Genesis plans to launch the GV70 directly as an electric vehicle without preparing PHEV or hybrid models.

This year, the hybrid market, which serves as an intermediate step toward electric vehicles, has seen significant activity. However, analysts predict that next year's market will expand further due to the growth of charging infrastructure.

The GV70 electric vehicle model, scheduled for release next year, will likely skip the hybrid model and go directly to the electric vehicle model.

Meanwhile, Genesis's performance in the domestic market remains quite encouraging. The brand has surpassed 100,000 units for two consecutive years, with projections estimating sales of 150,000 units by the end of this year. As of August, sales reached 92,967 units, reflecting a growth of about 38.6% compared to the same period last year.

Despite the ongoing semiconductor supply issues affecting production, the upward trend in sales is significant. The Genesis GV70, in particular, has played a crucial role in this growth, selling nearly 29,068 units this year alone. It ranks as the second-best-selling model among Genesis vehicles. Competing models include the Mercedes-Benz GLC, BMW X3, Audi Q5, and Volvo XC60.

Genesis's flagship model is the G80. Following last year's new model effect, it recorded an 18.8% growth this year, achieving sales of 39,312 units. This success comes from competing against the Mercedes-Benz E-Class and BMW 5 Series. Internationally, the GV80 and GV70 have performed well, collectively selling 33,186 units abroad, with total domestic and export sales exceeding 100,000 units.

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