The Genesis GV60 Electric SUV Reveals a Higher Price Tag and Lower Range Than the Tesla Model Y

The Genesis GV60 electric SUV is the first EV from the automaker built on the E-GMP platform. It’s the same platform as the Hyundai Ioniq 5, but the GV60 comes with the luxury you’d expect of a Genesis. In short, if the Ioniq wasn’t upscale enough for you, the GV60 is the answer. However, does the new Genesis electric SUV have what it takes to beat rivals? It has a higher price tag and lower range than the best-selling Tesla Model Y.

Genesis GV60 electric SUV: Price and range

Yellow 2023 Genesis GV60 kicking up some dirt and showing off the fun
Yellow 2023 Genesis GV60 | Genesis

According to Electrek, Genesis has released the pricing and specs for the Genesis GV60 electric SUV. Coming to the United States this summer, the new EV from Hyundai’s luxury brand will undoubtedly be popular. Moreover, it starts at $58,890 and has 248 miles of range per charge. Although it’s the luxury equivalent of the Hyundai Ioniq 5, it’s already ahead in range. Hyundai’s first electric offering only has 220 miles of range.

Genesis’ new model uses a bigger battery than the Ioniq, a 77.4 kWh pack. In addition, there are two different versions of the vehicle, Advanced and Performance. Primarily, the difference between them is that the Performance version has a front motor rated 160 kW, instead of the Advanced version’s 74 kW. The automaker also proudly announced the GV60 price, stating that “safety is never an option.” As a result, the Advanced package includes the entire suite of available safety and driver assistance systems.

Genesis GV60: Features

The 2023 Genesis GV60 is a pure luxury SUV with a lot of special features.
2023 Genesis GV60 | Genesis

The Genesis GV60 electric SUV is riddled with features to make it worth the asking price. Firstly, owners will receive three years of free 30-minute charging from Electrify America. With fast-charging prices on the rise, that’s becoming more valuable every day. Next, Genesis announced a new facial recognition system that comes with the GV60. Furthermore, Face Connect enables drivers to unlock and lock their vehicles with facial recognition.

There’s a lengthy list of features included in the base Advanced AWD version of the GV60 for $58,890. However, the list grows even longer when customers choose the Performance model. Starting at $67,890, the GV60 Performance comes with slightly less range, 235 miles, due to the 429 horsepower 160 kW front and rear motors. Additionally, heated rear seats, an electronically controlled suspension, an electronic limited-slip differential, and much more unlock for the higher trim.

Higher price and a lower range than the Tesla Model Y

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It’s not enough for an automaker to build an excellent vehicle anymore. Instead, they’ve got to be better than the best of the best. Right now, the Tesla Model Y is the best-selling electric vehicle in the U.S. That means the similarly-sized Genesis GV60 is in direct competition with it and is already a bit behind. We found out that the GV60 is losing in price and range with the new announcement.

According to Tesla, the Model Y Long Range starts at $55,190. For the top trim, Performance, customers owe $60,190. As a result, both versions of the Tesla electric SUV are more affordable than both Genesis GV60 models. However, Tesla also has the advantage in driving range per charge. Leading the industry, the Model Y Long-Range can drive 318 miles without stopping, and the Performance, 303 miles. Additionally, significant features like Full Self-Driving Capability cost an extra $12,000.

Genesis GV60 electric SUV reveals higher price tag, lower range than Tesla Model Y

In conclusion, the Genesis GV60 electric SUV has a higher price tag and lower range than the Tesla Model Y. As the luxury version of the Hyundai Ioniq 5; we expect a lot from the new Genesis EV. The automaker has already unveiled its long list of features, making it stand out above rivals. However, is it enough to overcome the electric SUV leader from Tesla? How big of an impact will price and range have on sales?

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