Genesis is set to launch a new luxury mid-size electric SUV, the GV80, that will compete against Tesla’s best-selling Model Y and the Porsche Macan EV. The new EV will roll out shortly after its larger GV90 electric SUV hits the market.
Genesis to launch new GV80 luxury electric SUV
After previewing its first full-size electric SUV with the Neolun Concept in March, Genesis is already working on another EV.
Genesis plans to begin building the new electric GV80 in the second quarter of 2026, following the start of production of its flagship GV90 (previewed in the Neolun Concept), which is scheduled for the first half of next year.
According to Genesis, the GV90 features “innovation that exceeds conventional standards.” In other words, Genesis looks to take on luxury rivals like Porsche, Mercedes-Benz, Tesla, and Rivian.
The GV90 will be the first Genesis to use Hyunda’s next-gen “eM” platform. The new platform is expected to cut costs by 20% while boosting range, charging, and efficiency.
Genesis is upping the competition with plans to launch another electric SUV. The new Genesis GV80 will be a purely electric mid-size electric SUV.
Genesis Neolum full-size electric SUV concept (Source: Hyundai Motor)
Codenamed JX2, the mid-size electric SUV is also expected to ride on Hyundai’s eM platform. The new eM is expected to be an upgrade over its current E-GMP platform, which underpins current Hyundai (IONIQ 5/6), Kia (EV6, EV9), and Genesis (GV60) electric models.
Hyundai’s new platform is designed for all vehicle sizes and will include advanced software and autonomous driving capabilities.
Genesis Neolum full-size electric SUV concept (Source: Hyundai Motor)
According to TheKoreanCarBlog, Hyundai’s eM platform will offer up to 113.2 kWh batteries, boosting range to around 700 to 800 km (435 to 497 mi).
After next year, all new Genesis models are expected to be purely electric. The luxury brand plans to produce new electric models in Korea and the US to meet the growing demand.
Genesis Neolun electric SUV concept interior (Source: Hyundai Motor)
The Genesis Electrified GV70 is already being made at Hyundai’s Alabama plant, and construction on the automaker’s first EV and battery plant in the US is expected to begin production by the end of this year.
Electrek’s Take
Genesis is already outpacing luxury rivals in the US market. After topping Infiniti in 2022, Genesis is aiming for even more.
Sales of the luxury brand have surged from 7,000 in 2016 to over 69,000 last year in the US. That’s nearly as much as Porsche (75,415), Land Rover (71,727), and Lincoln (81,818).
Genesis’ new GV80 electric SUV will compete with the new Porsche Macan EV, Tesla Model Y, Rivian R1S, and other luxury SUVs in the segment.
Data from Cox Automotive shows Genesis sold 6,403 EVs in the US last year, outpacing luxury rivals Lexus and Lucid.
Genesis revealed earlier this month that its electric models are now available in 37 US states. The luxury brand offers the GV60, Electrified GV70, and Electrified G80.
Genesis is shaping up to be a dark horse in the US luxury market. Would you buy a new mid-size Genesis electric SUV over a Porsche, Rivian, Tesla, or other luxury brand? Let us know your thoughts below.
If you’ve been eyeing a Genesis EV, now could be the perfect time to start shopping with fresh deals. You can view offers on Genesis electric models near you using our links below.
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Most Wall Street analysts covering Tesla’s stock (TSLA) badly misread the automaker’s delivery volumes this quarter. Some of them have started releasing notes to clients following Tesla’s production and delivery results.
Here’s what they have to say:
According to Tesla-compiled analyst consensus, the automaker was expected to report “377,592 deliveries” in the first quarter.
Truist Securities maintained its hold rating on Tesla’s stock, but it greatly lowered its price target from $373 to $280 a share. They insist that while their earnings expectations have crashed because they overestimated deliveries, investors should focus on Tesla’s self-driving effort, which they see as “much more important for the long-term value of the stock.”
Goldman Sachs lowered its price target from $320 to $275 a share. The firm expected 375,000 deliveries from Tesla in Q1 and therefore had to adjust its earnings expectations with almost 40,000 fewer deliveries.
Wedbush‘s Dan Ives, one of Tesla’s biggest cheerleaders, called the delivery results “disastrous”, but he reiterated his $550 price target on Tesla’s stock.
UBS has reiterated its $225 price target which it had lowered last month after adjusting its delivery expectations in Q1 to 367,000 – one of the more accurate predictions on Wall Street.
CFRA‘s analyst Garrett Nelson reduced his price target from $385 to $360 a share.
Electrek’s Take
I find it funny that most of them are maintaining or barely changing their expectations after they were so wrong about Tesla in Q1.
If you were so wrong in Q1, you should expect to be incorrect also for the rest of the year, and readjust accordingly.
But Cantor is invested in Tesla, and the firm is owned by Elon’s friend, who happens to now be the secretary of commerce. Truist still believes Elon’s self-driving lies, Goldman Sachs overestimated Tesla’s deliveries by the equivalent of $2 billion in revenues, and Dan Ives is Dan Ives.
Covering Tesla over the last 15 years has confirmed to me that most Wall Street analysts have no idea what they are doing – or at least not when it comes to companies like Tesla.
Do you know any who have been consistently good lately? I’d love suggestions in the comment section below.
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The global market rout on Thursday, sparked by President Donald Trump’s announcement of widespread tariffs, had an outsized effect on fintech companies and credit card issuers that are closely tied to consumer spending and credit.
Affirm, which offers buy now, pay later purchasing options, plunged 19%, while stock trading app Robinhood slid 10% and payments company PayPal fell 8%. American Express and Capital One each tumbled 10%, and Discover was down more than 8%.
President Trump on Wednesday laid out the U.S. “reciprocal tariff” rates that more than 180 countries and territories, including European Union members, will face under his sweeping new trade policy. Trump said his plan will set a 10% baseline tariff across the board, but that number is much higher for some countries.
The announcement sent stocks reeling, wiping out nearly $2 trillion in value from the S&P 500, and pushing the tech-heavy Nasdaq down 6%, its worst day since the start of the Covid-19 pandemic in 2020.
The sell-off was especially notable for companies most exposed to consumer spending and global supply chains, including payment providers and lenders. Fintech companies that rely on transaction volume or installment-based lending could see both revenue and credit performance deteriorate.
“When you go down the spectrum, that’s when you have more cyclical risk, more exposure to tariffs,” said Sanjay Sakhrani, an analyst at Keefe, Bruyette & Woods, citing PayPal and Affirm as businesses at risk. He said bigger companies in the space “are more defensive” and better positioned.
Dan Dolev, an analyst at Mizuho, said bank processors such as Fiserv are less exposed to tariff volatility.
“It’s considered a safe haven,” he said.
Affirm executives have previously said rising prices might increase demand for their products. Chief Financial Officer Rob O’Hare said higher prices could push more consumers toward buy now, pay later services.
“If tariffs result in higher prices for consumers, we’re there to help,” O’Hare said at a Stocktwits fireside chat last month. Affirm CEO Max Levchin has offered similar comments.
However, James Friedman, an analyst at SIG, told CNBC that delinquencies become a concern. He compared Affirm to private-label store cards, and pointed to historical trends in credit performance during downturns, noting that “private label delinquency rates run roughly double” in a recession when compared to traditional credit cards.
“You have to look at who’s overexposed to discretionary,” he said.
Affirm did not provide a comment but pointed to recent remarks from its executives.
Wait, Mazda sells a real EV? It’s only in China for now, but that will change very soon. The first Mazda 6e built for overseas markets rolled off the assembly line Thursday. Mazda’s new EV will arrive in Europe, Southeast Asia, and other overseas markets later this year. This could be the start of something with a new SUV due out next.
Mazda’s new EV rolls off assembly for overseas markets
The Mazda EZ-6 has been on sale in China since October with prices starting as low as 139,800 yuan, or slightly under $20,000.
Earlier this year, Mazda introduced the 6e, the global version of its electric car sold in China. The stylish electric sedan is made by Changan Mazda, Mazda’s joint venture in China.
After the first Mazda 6e model rolled off the production line at the company’s Nanjing Plant, Mazda said it’s ready to “conquer the new era of electrification with China Smart Manufacturing.”
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The new global “6e” model will be built at Changan Mazda’s plant and exported to overseas markets including Europe, Thailand, and other parts of Southeast Asia.
Mazda calls it “both a Chinese car and a global car,” with Changan’s advanced EV tech and Mazda’s signature design.
Mazda 6e electric sedan during European debut (Source: Changan Mazda)
Built on Changan’s hybrid platform, the EZ-6 is offered in China with both electric (EV) and extended-range (EREV) powertrains. The EV version has a CLTC driving range of up to 600 km (372 miles) and can fast charge (30% to 80%) in about 15 minutes.
Mazda’s new EV will be available with two battery options in Europe: 68.8 kWh or 80 kWh. The larger (80 kWh) battery gets up to 552 km (343 miles) WLTP range, while the 68.8 kWh version is rated with up to 479 km (300 miles) range on the WLTP rating scale.
At 4,921 mm long, 1,890 mm wide, and 1,491 mm tall, the Mazda 6e is about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall).
Mazda said the successful rollout of the 6e kicks off “the official launch of Changan Mazda’s new energy vehicle export center” for global markets.
The company will launch a new SUV next year and plans to introduce a third and fourth new energy vehicle (NEV).
Although prices will be announced closer to launch, Mazda’s global EV will not arrive with the same $20,000 price tag in Europe as it will face tariffs as an export from China. Mazda is expected to launch the 6e later this year in Europe and Southeast Asia. Check back soon for more info.
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