The first official image of the Genesis GV60 Magma has been released ahead of the small electric performance SUV’s unveiling later this year, and its Australian release in early 2026.
Magma is the new performance sub-brand of Hyundai premium brand Genesis, playing a similar role as Mercedes-AMG and BMW’s M division, and the GV60 Magma will be the first model in a new range of hot, luxurious performance cars from the Korean automaker.
Magma versions of all Genesis models are expected to join the hotter GV60 in Australia, including the GV70 mid-size SUV, the GV80 large SUV, and the G80 large sedan. The G90 limousine will be the exception because it’s made only in left-hand drive and therefore not sold here.
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The GV60 Magma will be the flagship of the compact GV60 electric SUV range, bringing more power, more equipment and a higher price tag – much like Hyundai’s hotter N EVs but with chassis tuning to suit the ‘gentleman driver’.
As you can see from the first image issued by the company, the production version will look much like the previously revealed concept, which completed a series of demonstration laps at the 2025 Bathurst 12 Hour in Australia with renowned racer Jacky Ickx at the wheel.
The showroom version of the small SUV, which looks more like a hatchback, will feature similarly aggressive front- and rear-end styling treatments including a diffuser-type rear bumper, plus a lower stance, large alloy wheels, and a low tailgate-mounted rear wing.
Details of the GV60 Magma’s powertrain have not been revealed, but it’s expected to be similar to the EV system in the Hyundai Ioniq 5 N electric SUV – which was upgraded for the new track-ready Ioniq 6 N electric sedan that’s also due for release in Australia next year – given all three models are based on the same E-GMP platform.
In the N models, the dual-motor all-wheel drive setup makes a combined 478kW of power and 770Nm of torque, which enough for the Ioniq 5 N to claim a 0-100km/h acceleration time of 3.4 seconds and a top speed of 260km/h.
That level of performance is accompanied by the highest price tag for a Hyundai model in Australia, at $110,383 before on-roads. And the Ioniq 6 N, which cuts the 0-100km/h time to 3.2 seconds, is expected to cost even more.
This means the GV60 Magma will cost more than the current GV60 Performance flagship, which is priced exactly $1 higher than the Ioniq 5 N at $110,384 plus on-roads.
The existing all-wheel drive GV60 Performance produces 320kW, offers a 481km (WLTP) driving range and has a cabin boasting a connected 27-inch multimedia array.