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We drove the 2027 Genesis GV60 Magma exactly one month ago today, making Thursday a rather fitting moment for Genesis to confirm that the new performance crossover has finally received a U.S. price. This electric vehicle will start at $71,495, including destination charges.

That figure puts it roughly $10,000 above its sibling, the Hyundai Ioniq 5 N, which recently received a significant price reduction. A premium of that sort is not surprising, given the added luxury equipment and upscale detailing that come with the Magma. The Hyundai is generously equipped in its own right, but the GV60 takes the cabin experience to a much higher level in both design and materials, with highlights such as a 27-inch OLED display, quilted trim with contrast stitching, and a Bang & Olufsen audio system, along with several other premium touches.

As we found during the first drive, the GV60 Magma behaves similarly to the Ioniq 5 N, though it is not identical. It features the same simulated gear shifts and also reproduces the sound of an engine, but the specific engine character and torque curve it imitates are completely different from what comes through the Ioniq 5 N’s speakers. My drive in Korea was brief, however, so it will take a more comprehensive test on American roads to reach a proper conclusion on whether the GV60 Magma is truly a strong buy.

Beyond comparisons with the Ioniq 5 N, the Magma’s pricing stacks up quite well against its luxury rivals. A Porsche Macan GTS Electric starts at more than $35,000 above the Magma, and you would have to add a substantial number of options to match its level of equipment. At the same time, the Cadillac Optiq-V is priced a couple of thousand dollars below the Genesis before options are added.

There will not be much scope for customisation when it comes to configuring your Magma. Genesis says it will be offered in Magma Orange, Uyuni White, Vik Black, and Makalu Gray Matte. Every version will also get the same black interior with Magma Orange stitching. Availability will be limited at launch, with Genesis saying the first GV60 Magma models will be sent to dealers in California, New York, and New Jersey “in the coming weeks.”