Genesis GV60 Magma Priced at C$99,500 in Canada — 641 hp Performance EV Lands in the Luxury Crossover Gap

Genesis Canada has officially priced the 2027 GV60 Magma at C$99,500, putting the first model under its new Magma high-performance sub-brand firmly in the upper tier of the luxury electric crossover segment. The car delivers 641 horsepower and 583 lb-ft of torque from dual motors paired with an 84-kWh battery pack, per Motor1 reporting on the US launch pricing.

At roughly C$99,500, the GV60 Magma slots just under the C$100,000 mark — a price that positions it below a Porsche Taycan Turbo (starting near C$150,000+) and a BMW iX M60, while sitting well above the standard GV60 lineup that starts around C$70,000 in Canada.

What the Magma badge buys

• 641 hp / 583 lb-ft: dual-motor AWD with a "Boost" button for short bursts of extra torque, matching the Ioniq 5 N powertrain architecture but tuned for a luxury ride.
• 84-kWh battery: same pack as the Ioniq 5 N, giving an EPA-estimated range of roughly 356 km (221 miles) in the US spec; Canadian range figures have not yet been published by Natural Resources Canada.
• 21-inch forged wheels, Magma Orange paint, Obsidian Black interior with orange stitching — a first for the Genesis brand.
• Dedicated drift mode: a rear-bias torque split that lets drivers break traction under power, a feature borrowed directly from the Ioniq 5 N's N Grin Boost philosophy.
• Simulated gear shifts and engine sound: Genesis carries over the Ioniq 5 N's synthetic audio and pseudo-shift pattern to give the EV a more "performance" feel.

Canadian context: where it fits

The GV60 Magma is the first Genesis model to carry the Magma performance badge in North America, mirroring Hyundai's N performance division. For Canadian buyers, the C$99,500 price means the car will not qualify for the federal iZEV rebate (which requires a base MSRP under C$110,000 and a purchase price under C$45,000 after rebates for most buyers), so the full sticker price applies.

Genesis says Canadian deliveries are expected in early 2027, with initial availability limited to select markets. The US market launched with availability in California, New York, and New Jersey before expanding nationally, so Canadian buyers should expect a similarly staggered rollout.

The car's direct competition in Canada includes the Porsche Taycan 4S, the BMW i4 M50, and the Lucid Air Pure — all of which offer comparable or slightly higher performance at similar or higher price points. The GV60 Magma's edge is its drift mode and the fact that it shares the E-GMP platform with the Ioniq 5 N, meaning parts and service infrastructure can overlap across the Hyundai-Mobis group.

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