Genesis isn’t just launching a performance brand for the sake of vanity. According to Hyundai Motor Company CEO Jose Muñoz, the new Magma division is a critical pillar of a massive global expansion plan.
The Korean luxury brand aims to reach 350,000 annual sales by 2030, representing a massive 55 per cent increase from its current volume – a steep climb for a brand that is still fighting for recognition in key markets like Europe and Australia.
But the most interesting number wasn’t the total; it was the mix.
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Mr Muñoz confirmed Genesis expects Magma high-performance models to account for roughly 10 per cent of the brand’s total volume.
“This is not just a halo, it is a healthy business, proof that emotional performance can create real value,” Mr Muñoz told media.
“Magma will be an active contributor to that growth… Magma is not only a product strategy, it is our statement of intent.”
For years, performance sub-brands like BMW M and Mercedes-AMG were niche engineering skunkworks. Today, they are massive profit centres.
By targeting a 10 per cent mix, Genesis is signaling that Magma isn’t just about setting lap times at the Nürburgring, it’s about selling higher-margin cars to customers who want the “Magma Orange” badge credibility.
It’s a strategy that mirrors Porsche and Mercedes-AMG, using performance equity to drive transaction prices up.
In Australia, where high-performance variants often make up a hugely disproportionate amount of sales (Australia is consistently one of the top markets globally for AMG and M market share), this strategy could finally give Genesis the traction it has been missing.
The brand confirmed the GV60 Magma will launch first in Korea in early 2026, followed by Europe and North America. An Australian launch is expected to follow closely, given our market’s appetite for fast SUVs.