Hyundai Group has reportedly pulled the plug on the underperforming Genesis GV70 EV in North America. According to Business Korea, the production became less than viable amidst the cancellation of EV tax credits, rising manufacturing costs and the market shift towards hybrids.
Genesis has denied discontinuing the GV70 EV in the United States, adding that shipments will be made from South Korea for the foreseeable future. The Korean Car Blog doubts the viability of this approach, arguing that the SUV still has a reasonably large domestic market that has yet to become saturated. Shipping it overseas may only lead to a domestic sales hit at no benefit for the company’s presence in North America.
The Genesis GV70 Electrified has been around since 2021 and got a facelift last year. It came with assorted exterior and interior design tweaks and a NACS-standard charging port for Tesla Supercharger compatibility.
The U.S. spec ships with a dual-motor powertrain sending 435 PS (429 hp / 320 kW) to all four wheels. A special mode called Overboost raises the output to 490 PS (483 hp / 360 kW) for a brief period. An 84-kWh battery pack supplies the power.
Prices currently begin from $64,380, but importing cars from overseas might make them more expensive than that.
