Genesis is the tip of the spear for Hyundai Motor Group's efforts to sell more than 3 million electric vehicles globally by 2030. The Korean automaker's luxury brand pledges to phase out internal combustion engines in three years and transform its lineup to EVs by the end of the decade.
The brand is launching its third EV in the U.S. — a battery-powered version of the GV70 compact crossover that will eventually be the only powertrain option in the lineup.
The Electrified GV70 will be built at Hyundai's factory in Montgomery, Ala., with the company having invested $300 million to retool the facility to build EVs. The Hyundai Santa Fe is built there now and the Electrified GV70 will go into production in December, with sales targeted to start in early 2023.
The new EV follows the launch of the GV60 compact electric crossover built on Hyundai's Electric Global Modular Platform, known as E-GMP, and the Electrified G80, a battery-powered variant of Genesis' midsize sedan.
The vehicle's naming strategy — Electrified GV70 — serves as a stopgap until Genesis halts production of the gasoline version, at which point "Electrified" will be dropped and the EV will carry the original GV70 nameplate. That convention also applies to the Electrified G80.