Genesis Declares Rapid Growth While Criticizing The BMW M

The young Korean premium brand Genesis announces ambitious plans for the European market.

Strong penetration is announced, with sales growth expected to be as much as 650 percent in the next five years. A key role in that strategy will be played by the new Magma model line, which will combine high performance and luxury, thus positioning Genesis as a serious competitor to established European names such as BMW M.

Magma was officially presented at the end of last year, on the occasion of the tenth anniversary of the Genesis brand. Although it is a relatively young manufacturer, Genesis has sold almost 1.5 million vehicles since its establishment.

Currently, the brand sells about 225,000 cars a year, but Hyundai’s global operations director, Jose Munoz, points out that the goal is to increase sales to 350,000 vehicles a year by 2035. A large part of that growth is expected precisely in Europe, which has been placed at the center of the new strategy.

Interestingly, the European offensive is happening in parallel with Genesis abandoning the earlier plan according to which the brand should have become exclusively electric from 2025.

Genesis Chief Creative Officer Luke Donkervolk told Autocar that Europe is not a failure for now but a market in an early stage of development.

“We have just started. We originally planned to be an all-electric brand from 2025, but we had to adjust our strategy. Due to Euro 7 regulations, we currently have a limited offer, but we will bring new products to Europe and enter new markets,” said Donkervolk.

Leading the new performance lineup is the GV60 Magma, an electric model that is Genesis’s answer to the Hyundai Ioniq 5 N and Kia EV6 GT. It is equipped with two electric motors and develops 650 hp, which enables it to accelerate to 96 km/h in 3.4 seconds and reach a top speed of 264 km/h.

Munoz confirmed that every model in the Genesis lineup will get a Magma version, regardless of whether it uses an ICE or an electric drivetrain.

Despite the strong emphasis on performance, Genesis emphasizes that the Magma will not perform like classic sports divisions such as AMG, Audi Sport, or BMW M.

“Each model will have a Magma version as the top of the range. Magma means a combination of powerful performance and luxurious refinement. It’s not just about raw power; it’s about unifying those values,” he explained.

Genesis also confirmed that the Magma GT Concept will get a mid-engined production version. The model will be offered in several versions, including a convertible and a special track version.

The powertrain has not yet been officially confirmed, but the concept used a V8 engine. Whether the serial model will keep the same engine is not yet known.

With ambitious growth plans, expanding the range, and a clear focus on performance and luxury, Genesis plans to significantly strengthen its position in the European premium car market in the coming years.

• Also See: Genesis Revealed Plans To Expand Significantly Across Europe