Launch events are usually filled with executives talking about “passion”, “DNA”, and “emotional journeys”. The launch of the Genesis Magma sub-brand in France overnight was no different.
But if you strip away the marketing fluff and look at the hard data, the arrival of a high-performance division isn’t just an “emotional journey” for Genesis. It is a commercial necessity.
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Genesis makes excellent cars. The GV60 small electric SUV, in particular, is a critically acclaimed darling – it’s quiet, fast, charges incredibly quickly, and looks like nothing else on the road.
But in Australia, almost nobody is buying it.
The grim numbers
According to the latest VFACTS data, Genesis has sold just 15 examples of the GV60 so far this year.
To put that in perspective, that’s a 77 per cent drop compared to the same period last year. It is currently the brand’s slowest-selling volume model, trailing significantly behind the top-selling GV70 mid-size SUV (which does the heavy-lifting for the brand), and the GV80 large SUV.
While the brand overall is fairing well in a tough 2025 market (up almost 15 per cent to October) thanks solely to the GV70, the GV60 isn’t doing so well.
The problem isn’t the product; it’s the cut-through. In a market dominated by the ubiquity of the Tesla Model Y and the badge snobbery of the Germans, the quirky GV60 has struggled to find its voice. It’s a brilliant car that too many buyers simply don’t know exists.
The halo effect
This is exactly why Magma exists.
“Magma is the ‘superhero’ of Genesis – an alter ego,” says the brand in its official press release. And superheroes get noticed.
By taking its slowest-selling EV and giving it the Magma treatment – searing orange paint, 478kW of power, and a drift mode – Genesis creates a headline-grabbing halo car that forces people to look at the GV60 again.
It’s the same playbook used by Mercedes-AMG and BMW M. The point of the C63 AMG isn’t just to sell C63s – it’s to make the C200 look cool enough to buy.
Manfred Harrer, the new head of Genesis Performance Development (and a former Porsche engineer), admits this is an “engineering move” designed to send a message.
“It’s for sure also a message to the customer – it shows how serious we are regarding performance,” said Mr Harrer.
Can it save the GV60?
Launching your high-performance sub-brand on your slowest-selling model is a calculated risk.
If the GV60 Magma is as good as its hardware suggests – it’s essentially a more luxurious Hyundai Ioniq 5 N – it will be one of the best performance EVs on the planet.
That credibility allows Genesis to charge more, build prestige, and essentially reboot the GV60 nameplate in the eyes of Australian buyers.
Genesis needs speed, noise (even if it’s simulated), and attention. Magma delivers all three.