About two months later than initially planned, the first Genesis Electrified GV70 are rolling off the production line at the Hyundai plant in Alabama. It is the first time a Genesis model is being built in the US – and even the first time one is made outside of South Korea.
The reason the new Genesis is produced in the US: The US Inflation Reduction Act. Under the act, Hyundai’s luxury brand Genesis is allegeable for subsidiaries. US buyers will receive up to 7,500 dollars in tax credit when purchasing an electric vehicle built in North America. Hyundai hopes that moving the production line to the US will help the company keep its market share there.
The Electrified GV70 features two electric drives, each producing 160 kW of power and 350 Nm of torque on the front and rear axles. Genesis puts the system power at 360 kW in boost mode and the combined torque at 700 Nm. Last week, Genesis announced that the EV would start at 65,850 dollars in the US. The premium version, the Electrified GV70 Advanced, will start at 72,650 dollars.
This is Genesis’ third electric car. The Electrified GV60 SUV and the Electrified G80 came to market in 2022 – both were assembled in South Korea. The Brand has committed to an all-electric lineup by 2030, saying it will launch EVs only from 2025.
Meanwhile, Hyundai is planning its first all-electric vehicle and battery facility in Georgia, USA. The plant will have an annual capacity of 300,000 EVs. Production in Bryan County is expected to start in the first half of 2025. The carmaker promised further details about the plant, which is being built as part of a strategic partnership, at a later date. Construction should begin before the end of this year.
yna.co.kr, hmmausa.com
Keyword: Genesis kicks off production in the US