Genesis Reveals GV60 Magma Concept

The Genesis GV60 Magma Concept made its global, dynamic debut at the 2024 Goodwood Festival of Speed. This recent reveal means that the full production of the new Genesis GV60 Magma is that much closer to becoming a reality on the production line. Magma vehicles are dubbed so by their high-performance versions, and the beginning of the new classification was announced in March.

Genesis’ participation at Goodwood includes the largest stand yet, showcasing various concept and production vehicles and featuring autograph sessions with Ickx.

“The festival’s storied legacy and enthusiastic audience provide an ideal platform to showcase the capabilities of our new Magma program and highlight our strong commitment to high performance. We invite all attendees to immerse themselves in the full Genesis experience and witness the dynamic energy and power of Genesis Magma.”

Genesis Chief Creative Officer Luc Donckerwolke via Genesis News

The Magma program aims to enhance each Genesis model with improved visual style and increased real-world performance, featuring specialized components, exclusive designs, and advanced technology. This includes:

• Improved battery technology
• Enhanced motor technology
• Meticulous attention to chassis details
• Advanced aerodynamics
• Optimized thermodynamics
• Wider and lower body design for enhanced stability and dynamic stance
• Lower center of gravity for sporty driving
• Exclusive chassis and suspension components
• Magma-exclusive sound system for a rich auditory experience
• Immersive human-machine interface (HMI) with a distinct graphical user interface (GUI)
• Prioritized display of essential data and functions

Furthermore, the brand stresses that “each vehicle within Genesis Magma will embody the following three fundamental attributes: ‘Unspoken Dominance,’ ‘Captivating Control’ and ‘Sharpened Immersion.’”

Led by six-time Le Mans winner Jacky Ickx, the GV60 Magma Concept is pushing strongly ahead with its performance-driven strategy and marketing.

The GV60 Magma is slated for production in Q3 2025, marking the first Magma vehicle to enter sales, starting in Korea.

Moreover, Hyundai, the South Korean company that owns Genesis, is investing nearly $1 billion in self-driving startup Motional, securing an 85% majority stake by directly investing $475 million and buying out joint venture partner Aptiv for $448 million. This investment aims to support Motional’s goal of launching a driverless robotaxi service using Hyundai Ioniq 5 vehicles in 2024.

Aptiv, which will reduce its stake to 15%, decided to stop funding Motional due to high costs and the lengthy path to profitability. The move comes as the robotaxi sector faces uncertainties, with Waymo leading in commercialization and Tesla planning to launch a robotaxi in August.