With the luxury brand’s sales surging in the US over the past few years, Genesis looks to take advantage of the market’s shift to electric. Genesis is aiming at luxury rivals like Tesla, with EV lease prices starting as low as $339 per month for the new GV60. Meanwhile, the larger Electrified GV70 is an even better deal.
Genesis is quietly outpacing other luxury rivals as it expands EV sales into new US states. Although Genesis already topped Infiniti’s sales in 2022, the luxury brand is eyeing bigger rivals.
After selling over 69,000 vehicles last year, Genesis is closing in on Porsche (75,415), Land Rover (71,727), and Ford’s Lincoln (81,818). A big reason behind the Korean luxury brand’s success is its quick transition to EVs.
According to Cox Automotive, Genesis sold over 6,400 electric cars in the US last year, more than Lexus and Lucid.
Genesis sells three fully electric vehicles in the US: the GV60, Electrified GV70, and Electrified G80.
According to a new memo sent to dealers, Genesis 2024 GV60 EV lease prices start at just $339 per month for 36 months. With $5,999 due at signing, the rate amounts to $506 per month. Not bad for a luxury electric SUV with an MSRP of $53,350.
Left to right: Genesis GV60, Electrified GV70, and Electrified G80 (source: Genesis)
Genesis 2024 GV60, GV70 EV lease prices
However, the larger Electrified GV70 is an even better deal at just $399 per month for 36 months. With only $3,999 due upfront, 2024 Genesis GV70 lease prices amount to $510 per month.
The Genesis GV70 has an MSRP of $67,800, nearly $14,500 more than the GV60, but leasing costs only $4 more per month.
Genesis GV60 electric SUV (Source: Genesis)
Although both are powered by a 77.4 kWh battery, the GV60 is fitted with a single motor (RWD), while the GV70 Electrified is equipped with two motors for AWD.
For families, the GV70 EV may be the better choice. The GV60 has 24 cu ft of space behind the rear seats, which maxes out at 54.7 cu ft when the seats are folded down. The GV70 Electrified features 28.7 cu ft behind the rear seats, expanding to 56.9 cu ft when folded.
According to online auto research firm CarsDirect, both EVs have a residual value of 50% after a 36-month lease.
Genesis GV70 Electrified (Source: Genesis)
Genesis is expanding its EV lineup. In March, the luxury brand unveiled the Neolun concept, previewing its first full-size luxury electric SUV.
Meanwhile, Genesis is expanding into high-performance vehicles with its new Magma brand. The first vehicle under this brand, the GV70 Magma, was revealed last month.
Genesis believes its sportier Magma brand can help boost awareness and sales as the luxury automaker looks toward an all-electric future.
If you’re ready to take advantage of lower Genesis EV lease prices, we can help you get started. You can use our links below to view deals on Genesis electric models at a dealer near you.
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BMW told dealers it plans to freeze EV production in the US in May as it deals with the uncertainty surrounding the new auto tariffs. Despite the pause, BMW said it won’t raise prices on most imported vehicles. At least, for now.
Why is BMW pausing EV production in the US?
After celebrating the assembly of its seven millionth vehicle in the US this week, BMW, like most major automakers, is bracing for a shakeup under the Trump Administration.
According to Automotive News, BMW told its dealers on April 29 that it will “postpone” EV production in the US in May. The note didn’t specify a reason, but it’s more than likely due to Trump’s 25% tariff on vehicle imports.
The luxury automaker has had more success than most of its peers with four electric vehicles: the i4, i5, i7, and iX. However, all four are built in Germany.
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In the first three months of 2025, BMW sold 13,538 EVs, up 26% from Q1 2024. The i4 was BMW’s top seller with sales surging 57% to 7,125, followed by the iX at 3,626. In comparison, Mercedes-Benz sold just 3,472 electric vehicles in the US in the first quarter, down 58% year-over-year (YOY).
2025 BMW i4 M50 xDrive (Source: BMW)
Sebastian Mackensen, President & CEO of BMW of North America, said the company “remains in a strong position in the US, where the majority of the vehicles we sell in this market are also assembled.”
BMW also told dealers in the memo that it will not raise prices on most imported vehicles through June. The only exception is the 2 Series and M2 performance coupe.
2026 BMW iX xDrive60 (Source: BMW)
The news comes after most major automakers, including GM, Volvo, Mercedes-Benz, Volkswagen, and Stellantis, withdrew their financial guidance this week due to the uncertainty caused by Trump’s tariffs.
Earlier today, Ford CEO Jim Farley told CNN, “We’re all trying to figure this out to do the right thing for the country,” adding, “It’s going to take a little time.” In the meantime, expect to see more drastic measures being taken.
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After extending several promotions this week, Ford is offering significant discounts that could save you thousands. In addition to employee pricing on most Ford and Lincoln vehicles, the company is offering a free home charger with the purchase of an EV. Here’s how you can snag some discounts.
The promo was initially expected to end on June 2, but CEO Jim Farley told CNN in an interview on Wednesday that the company is extending it through July 4. Although the campaign now runs another month, Farley said he can’t promise prices won’t go up when the offer expires.
As for how much of a discount, it will depend on the vehicle’s cost. Under the employee pricing plan, the 2025 Mustang Mach-E, with an MSRP of $36,495, costs just $34,599. The 2025 F-150 Lightning, with an MSRP of $62,995, is nearly $5,000 off, at just $58,183.
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“We want to keep our prices competitive and low,” Farley explained. Like most automakers, Ford is bracing for the impact of the new auto tariffs in the US.
2025 Ford Mustang Mach-E (Source: Ford)
Outside of Tesla, Ford builds a greater percentage of vehicles in the US than any other major automaker. According to Farley, “This is an opportunity for Ford.” He explained that Ford has “a different footprint, a different exposure for tariffs.”
Ford imports around 21% of the vehicles it sells in the US. Crosstown rival GM imports around 46%. According to S&P Global Mobility, Ford made around 2 million cars in the US last year. It also built around 391,000 in Mexico and 54,000 in Canada.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
For EV buyers, Ford is also extending its Power Promise program, which offers a free Level 2 home charger (plus standard installation) with the purchase of an F-150 Lightning or Mustang Mach-E.
Other benefits include 24/7 live electric vehicle support, roadside assistance, and an 8-year, 100,000-mile battery warranty. The promo now runs through July 6.
Ready to take advantage of the savings? We can help you get started. You can use our links below to find deals on the Ford F-150 Lightning and Mustang Mach-E at a dealer near you.
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Waymo and Toyota have announced a partnership aimed at competing with Tesla in the development of personally owned self-driving vehicles.
Waymo is already widely regarded as the market leader in autonomous driving, as it currently provides approximately 250,000 autonomous paid rides per week in the few markets where it operates.
Tesla is playing catch-up as it plans to offer the same service Waymo offers, starting in Austin in June, with 10 to 20 vehicles.
However, there’s an area of autonomous driving where Tesla is still seen as the market leader: personally owned self-driving vehicles.
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While Tesla has yet to deliver on its promise of unsupervised self-driving capability in its consumer vehicles, it uses the same technology in those as it plans to do in its internal fleet in Austin, albeit with more Austin-specific training and some teleoperation assists.
Some see this as an opportunity for Tesla to take the lead in personally owned autonomous vehicles if it can solve self-driving on its current hardware, which is a big if.
It already has smoothly integrated sensors that don’t clash with the designs of its vehicles, which is something that car buyers care about, but it’s not a big deal for an autonomous ride-hailing fleet, which is what Waymo has focused on so far.
Now, Waymo and Toyota have announced that they are exploring collaboration on autonomous vehicles :
Toyota Motor Corporation (“Toyota”) and Waymo reached a preliminary agreement to explore a collaboration focused on accelerating the development and deployment of autonomous driving technologies. Woven by Toyota will also join the potential collaboration as Toyota’s strategic enabler, contributing its strengths in advanced software and mobility innovation. This potential partnership is built on a shared vision of improving road safety and delivering increased mobility for all.
More specifically, the collaboration will focus on “next-generation personally owned vehicles (POVs)”:
Toyota and Waymo aim to combine their respective strengths to develop a new autonomous vehicle platform. In parallel, the companies will explore how to leverage Waymo’s autonomous technology and Toyota’s vehicle expertise to enhance next-generation personally owned vehicles (POVs). The scope of the collaboration will continue to evolve through ongoing discussions.
This would point to Waymo integrating its technology into Toyota’s vehicles for consumers.
While it’s still early, Waymo appears to be doing something Elon Musk, Tesla’s CEO, claimed Tesla would be doing soon: announcing deals to integrate its ‘Full Self-Driving’ technology in vehicles built by other automakers.
This is a big deal. The world’s leader in autonomous vehicles is partnering with the world’s largest automaker.
It’s still early in the collaboration, as per the press release, but it does sound like Waymo is going to develop a hardware suite that can be fitted into Toyota’s consumer vehicles.
This would go after Musk’s argument that Waymo can’t compete with Tesla due to the high cost of its autonomous vehicles.
Waymo’s counterargument is that it hasn’t focused on cost because safety is the priority, and the cost of the vehicles doesn’t matter as much if they are to be used in an internal ride-hailing fleet.
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