Genesis GV60 Magma revealed: Premium Ioniq 5 N twin confirmed for Australia

Genesis has finally stripped the camouflage off the production version of the GV60 Magma, and if you look past the searing orange paint and the executives calling it a “superhero” for the Korean luxury auto brand, what we’re actually looking at is the most important car Genesis has ever built.

Revealed overnight at the Circuit Paul Ricard in France, after being shown in disguise in October, the GV60 Magma is the first road-going model from Genesis’ new high-performance sub-brand.

While Hyundai’s premium brand is pitching this as “Luxury High Performance”, let’s be straight about the engineering reality: this high-output small electric SUV is the brilliant Hyundai Ioniq 5 N wearing a tailored tuxedo.

And that is a very, very good thing.

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Confirmed for Australian launch in early 2026, the first showroom-ready Magma model takes the standard GV60’s soft, jelly-bean styling and injects it with a serious dose of aggression.

The production specs reveal it rides 15mm lower than the standard car and features a significantly broader track (wider by roughly 15-20mm front and rear) to house massive 21-inch Magma forged wheels with 275/35R21 Pirelli P Zero tires.

The Numbers: Ioniq 5 N DNA

We finally have the hard numbers, and they are exactly what we hoped for. The GV60 Magma shares the same 84kWh battery and dual-motor electric powertrain as its Hyundai sibling.

• Power: 478kW (in Boost Mode)
• Torque: 770Nm (in Boost Mode)
• 0-100km/h: 3.4 seconds
• Top speed: 260km/h

For context, that claimed 0-100km/h time obliterates the current GV60 Performance’s official 4.0-second sprint.

Genesis has also confirmed the Magma will feature a suite of track-ready software that will sound very familiar to anyone who has driven the Ioniq 5 N:

• VGS (Virtual Gear Shift): This is Genesis-speak for the ‘N e-Shift’ system. It uses the paddle shifters to simulate the jolt, rev-limit, and engine braking of an eight-speed dual-clutch automatic transmission, complete with a dedicated RPM cluster display.
• HPBC (High Performance Brake Control): A retuned braking system that blends massive regenerative braking capability with the friction brakes, allowing for consistent pedal feel even during heavy track use.
• Drift Mode: Yes, you can decouple the front motor to send tyre-shredding torque purely to the rear axle.

Manfred Harrer, the former Porsche engineer who now heads up the Genesis Performance Development Tech Unit, calls the car an “engineering move”.

“We are proud of our thermal management concept… there are bigger changes and there are minor tweaks, but together they generate this setting,” Mr Harrer said.

Inside the cabin

Genesis claims the GV60 Magma is designed to be a ‘GT’ first and foremost, meaning it shouldn’t rattle your fillings loose on the daily commute, but interior differentiation from its Hyundai cousin comes down to extra luxury.

The cabin features bucket seats finished in Nappa leather and suede with signature Magma Orange stitching, and retains the crystal sphere gear selector and other high-end materials Genesis is known for, creating a weird but compelling mix: a track-capable weapon that you’d actually want to drive to the office.

Why Genesis needs this to work

This car can’t come soon enough for Genesis Australia.

While the brand has established itself as a legitimate luxury alternative, the sales charts tell a brutal story for the current GV60. According to the latest VFACTS data, Genesis has sold just 15 examples of the GV60 so far this year – almost 77 per cent down on the same period last year.

It is the brand’s slowest-selling model in 2025, trailing well behind the best-selling GV70 mid-size SUV (1004 sales) and GV80 (237) large SUV, and even the G70 and G80 sedans.

Launching the Magma sub-brand with its least popular model is a calculated risk by Genesis, which needs a halo car to compete with German competitors like BMW M and Mercedes-AMG, because the brand’s standard ‘luxury’ pitch isn’t moving enough EV metal right now.

If the GV60 Magma can deliver Ioniq 5 N levels of performance and dynamics with genuine luxury refinement, it might just be the reboot the nameplate needs.

MORE: Explore the Genesis GV60 showroom