The upcoming flagship Genesis GV90 is set to shake up the ultra-luxury market. Ahead of its official debut, we are finally getting a look at the larger electric SUV. The Genesis GV90 was spotted in South Korea for the first time, revealing its “massive” size. Check it out below.
Genesis GV90 spotted in public for the first time
Genesis has quickly built a name for itself after it became an independent luxury brand from its parent company, Hyundai.
The brand currently offers three all-electric vehicles: the GV60, Electrified G80, and Electrified GV70 SUV. This year, all three are getting significant updates with more range, a redesigned interior, and even more luxury. Meanwhile, the luxury brand has even bigger plans, with new vehicles arriving soon.
Genesis is preparing to launch a new full-size electric SUV that’s expected to rival ultra-luxury models like the Mercedes-Benz GLS Class and Bentley Bentayga.
We got a sneak peek of the new SUV after Genesis revealed the Neolun concept last March. The larger model features a clean, “reductive” design with its signature two-tone headlamps and Crest grille showcased upfront. The premium SUV even included coach doors, giving it that Rolls Royce-like feel.
Ahead of its arrival, the Genesis GV90 was spotted on a carrier for the first time in South Korea. The pictures from Namcha Cafe (via MotorsJason) reveal the test car, which is believed to be the new Genesis.
Despite the camouflage, you can see the SUV’s massive size in its outline. Even the wheels appear to be unusually large at around 22″.
Genesis will use the flagship electric SUV as a tech beacon as Hyundai scales upwards. The cabin will feature its latest tech and software, including a 24.6″ infotainment screen.
The GV90 will be the first vehicle underpinned by Hyundai’s next-gen “eM” platform. Hyundai’s new EV platform is expected to significantly cut costs with a modular design compared to its current E-GMP, which powers all IONIQ models, many Kia EVs (EV3, EV4, EV5, Ev6, EV9), and the Genesis GV60.
Last November, TheKoreanCarBlog reported that the first GV90 prototypes were spotted outside Hyundai’s R&D center in Korea. Now, we are finally seeing production models out in public.
It’s expected to launch in two trims: a Standard and an “Exclusive” model. The base model is expected to start at around 100 million won, or around $80,000. Meanwhile, the Exclusive trim, which will retain features like coach doors, could cost upwards of 200 million yuan, or around $160,000. The premium version will be limited to just a few models.
Genesis is expected to reveal the GV90 later this year, with mass production scheduled for early 2026. It will be built at Hyundai’s Ulsan EV plant in Korea.
Would you buy the ultra-luxury Genesis GV90 for around $80,000? Or would you opt for the Exclusive trim with coach doors for around $160,000? Let us know your thoughts in the comments.
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If it sounded too good to be true, that’s because it was. A proposal made last year to double the allowable power limit of electric bicycles in the UK was canceled after pushback on the plan.
Current laws in the UK are similar to those throughout most of Europe, limiting electric bicycles to 250 watts (1/3 hp) and 25 km/h (15.5 mph) of top speed.
A proposal put forth by the Conservatives would have seen that power limit doubled to 500W in the UK, and potentially also allowed for the use of a hand throttle, according to Bike Radar.
After the Department for Transport began a public consultation to assess public opinion, it became clear that while the general public had mixed feelings, most bicycling organizations were largely in favor of keeping the existing regulations unchanged.
“While the difference between the overall number of respondents being in favour and those not in favour was relatively small, this was not the case with main stakeholder organisations, with the vast majority opposing the proposals,” the Department for Transport explained.
While European electric bicycle laws are relatively strict, limiting electric bicycle motors to less power than a healthy adult can generate with their own legs, North American e-bike laws are generally less restrictive.
In Canada, electric bicycles can support up to 500W of power and feature hand throttles that allow the e-bikes to be powered even without pedaling. In the US, the vast majority of states have adopted the three-class system, which allows all electric bicycles to support motors of up to 750W of power, or three times the European limit. Hand throttles are also allowed on some electric bikes, but the specifics can vary from state to state. The subject of speed, as well as hand throttles on e-bikes, has become a contentious subject in the US with increased regulatory activity.
In much of Europe, bicycles and e-bikes are seen as more integrated members of the larger public transportation system. In North America, cities are much more car-centric and often even hostile to cyclists.
While not all European cyclists enjoy the utopia of Amsterdam’s bicycle-friendly streets, most European cities are more likely to feature better-developed cycling infrastructure that lets cyclists safely travel at slower speeds. Conversely, many American riders feel that higher speeds and motor power levels are essential for their safety when sharing the roads with cars, as higher performance allows riders to better pace existing vehicle traffic.
Regulations don’t just dictate how powerful an e-bike can be, but rather they can also shape how e-bikes are used in daily life. In Europe, where most e-bikes are capped at 250W and 25 km/h (15 mph), more emphasis is placed on pedal-assisted cycling, encouraging active riding while offering a boost for longer trips.
Many cities in Europe have extensive bike lane networks that accommodate e-bikes alongside traditional bicycles, reinforcing the idea that e-bikes are simply a modernized version of cycling rather than a separate vehicle class.
In North America, where 750W e-bikes are common and Class 3 e-bikes can reach 28 mph (45 km/h), the riding experience can sometimes be closer to that of a moped. While many riders enjoy this broader freedom, it has caused friction in many cities who seek to rein in higher performance electric bikes.
At the same time, higher power limits and throttle-assist features can make e-bikes more attractive for recreational riders, commuters, and even delivery workers, especially in cities where bike lanes are scarce. This has contributed to a wider diversity of e-bike styles in North America, from fat-tire adventure bikes to powerful cargo e-bikes capable of carrying heavier loads.
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Polestar has unveiled a new collection of one-off “Arctic Circle” EVs designed to showcase the brand’s performance DNA. The rally-inspired upgrades have now been applied to the Polestar 2, 3, and 4 EVs and were put through their paces in the frigid Arctic before they make their public debut at an ice race in Austria. See more in Polestar’s video below.
Although Polestar is technically a Chinese brand since it is majority-owned by Geely Holding, its roots and design are still very Swedish. The premium EV brand is just now starting to gain some clout with consumers as its lineup of available vehicles has expanded to three models: the Polestar 2 sedan, 3 SUV, and 4 crossover.
Aside from several additional models in its pipeline, Polestar has developed several performance variants of its models. Well, actually, up until now, there has been just one model, the Polestar 2. Nevertheless, we’ve seen two high-performance BST Editions as well as a unique “Arctic Circle” Polestar 2 that made its debut in February 2022.
Three years later, Polestar’s lineup has grown by two, and the automaker has returned to the chilly tundra of the Arctic Circle with unique one-off variants designed to kick up some snow and drift across the ice. Today, Polestar shared images and a video of the new Arctic Circle collection before the three unique EVs perform some hot laps on the ice of Austria this weekend.
Polestar shows off its tuning prowess in the Arctic Circle
According to news shared by Polestar this morning, the previously mentioned one-of-a-kind Polestar 2 Arctic Circle is now part of a trio of ice-ready EVs alongside its Polestar 3 and 4 siblings. The new Arctic Circle collection is a design exercise in rally-inspired EVs that showcase Polestar’s performance prowess. Company CEO Michael Lohscheller elaborated:
The Arctic Circle collection illustrates our unique performance DNA, rooted in motorsport and combined with Scandinavian design. We develop our cars under challenging conditions within the Arctic Circle in Sweden, and at the FAT Ice Race we will showcase that on ice there is nothing better than a Polestar. We are really excited to be part of this special event with our full model line-up, where it’s all about car culture and the performance experience.
Following today’s online debut of the new Arctic Circle EVs, Polestar said the three one-off models will make their public debut during the 2025 FAT Ice Race in Zell am See, Austria, on February 1. We asked the Polestar team if the Arctic Circle EVs would be competing, but they unfortunately will not.
However, Polestar told us the Arctic Circle EVs will be out on the ice track for some hot laps in front of the race attendees, operated by professional drivers and Polestar engineers, including Polestar’s Head of Driving Dynamics Joakim Rydholm and multiple STCC and WTCC champion Thed Björk.
The vehicles were built at one of Polestar’s Swedish R&D facilities and feature raised ride heights with custom 3-way adjustable Öhlins dampers, specialized Pirelli studded tires, and OZ racing wheels. The Polestar 2, 3, and 4 Arctic Circle EVs also showcase new Quad Evo front spotlights from Stedi, bucket seats from Recaro, and a slew of exterior winter accessories like skis, roof racks, storage containers, and recovery equipment.
Per Polestar, here’s how each of the Arctic Circle EVs break down in terms of specs and accesories:
Polestar 2 Arctic Circle
Polestar 3 Arctic Circle
Polestar 4 Arctic Circle
MY21 Long Range Dual Motor with Performance Pack and software upgrade 469 hp / 502 lb-ft (350 kW)
MY24 Long Range Dual Motor with Performance Pack 517 hp / 671 lb-ft (380 kW)
MY24 Long Range Dual Motor with Performance Pack 544 hp / 506 lb-ft (400 kW)
Custom Öhlins 3-way adjustable dampers (2-way compression, 1-way rebound) with external gas reservoirs
Custom Öhlins 3-way adjustable dampers (2-way compression, 1-way rebound) with external gas reservoirs
Custom Öhlins 3-way adjustable dampers (2-way compression, 1-way rebound) with external gas reservoirs
+1.2-inch ride height
+1.6-inch ride height
+0.8-inch ride height
Front and rear strut braces
Front strut brace
Front strut brace
Specialized 19” Pirelli Scorpion All-Terrain Plus with 250 4-mm studs (245/45R19) (for ice track driving)
Specialized 20” Pirelli Scorpion All-Terrain Plus with 300 4-mm studs (295/40R20) for ice track driving
Specialized 20” Pirelli Scorpion All Terrain Plus with 300 4-mm studs (295/40R20) for ice track driving
Pirelli P Zero Winter (245/45R19) (for road driving)
OZ Racing Rally Legend wheels (20”) (world premiere)
OZ Racing Rally Legend wheels (20”) (world premiere)
Recaro Pole Position bucket seats
Recaro Pole Position bucket seats
Recaro Pole Position bucket seats
Paddle-operated launch control
Stedi ST4K roof light bar
Drift-inspired hydraulic hand brake
Stedi Quad Pro LED front spotlights
Stedi Quad Pro LED front spotlights
Stedi Quad Pro LED front spotlights
Rally-inspired mud flaps and Swedish gold tow hooks
Rally-inspired mud flaps and Swedish gold tow hooks
Rally-inspired mud flaps and Swedish gold tow hooks
Thule WingBar Edge roof rails and SnowPack ski mounts
Thule WingBar Edge roof rails and custom roof basket
Specialized ski mounts
Blackcrows all-terrain skis
Fiskars SnowXpert shovel, Peli 1650EU Protector Case, and snow ladders
Blackcrows all-terrain skis
If you happen to be in Zell am See, Austria, this weekend, bundle up and check out some ice races and hot laps from Polestar. If you’d rather stay where you are and remain nice and warm, you can enjoy winter driving footage in the Arctic Circle from Polestar below:
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A Shell logo is displayed on May 03, 2024 in Austin, Texas.
Brandon Bell | Getty Images News | Getty Images
British oil giant Shell on Thursday reported a significant drop in annual profit, citing higher exploration write-offs, lower trading margins and weaker crude prices over the final three months of the year.
Shell posted adjusted earnings of $23.72 billion for the full-year 2024, compared to annual profit of $28.25 billion a year earlier.
Analysts had expected Shell’s full-year 2024 net profit to come in at $24.71 billion, according to an LSEG-compiled consensus. A separate forecast from analysts polled by Vara Research expected full-year profit to come in at $24.11 billion.
The energy major posted weaker-than-anticipated adjusted earnings of $3.66 billion for the final quarter of 2024.
Shell announced a 4% increase in dividend per share and launched another share buyback program of $3.5 billion, which is expected to be completed over the next three months.
Speaking to CNBC’s “Squawk Box Europe” on Thursday, Shell CEO Wael Sawan described 2024 as a “very strong year,” one which gave the company a platform “to do everything we said we were going to do.”
Asked whether it was time for Shell to move its listing from London to New York to close the valuation gap on its U.S. peers, Sawan said the firm was “always reviewing headquarter listings and the like.”
However, “there is no live discussion at the moment on this in Shell because our number one priority is to make sure that we unlock the full potential of this company,” Sawan noted.
The world’s top oil and gas companies have seen profits fall from record levels in 2022, when Russia’s full-scale invasion of Ukraine prompted international benchmark Brent crude to jump to nearly $140 a barrel.
In a trading update on Jan. 8, Shell trimmed its liquefied natural gas (LNG) production outlook for the final three months of 2024 and warned that trading results for its chemicals and oil products division were expected to be “significantly lower” on a quarterly basis.
Shares of the London-listed company traded 0.7% higher at 8:10 a.m. London time.
‘First sprint’
Shell’s full-year results come as the company enters the final stretch of its so-called “first sprint.” The strategy, which was launched in 2023 and runs to the end of this year, aims to close the valuation gap with U.S. peers by boosting the major’s profitability.
Shell CEO Wael Sawan has prioritized the firm’s more profitable oil and gas operations as part of this shift, while cutting spending on areas such as offshore wind and hydrogen and withdrawing from power markets in Europe and China.
Like other oil and gas majors, Shell has watered down climate targets and green investments in recent years. The company, however, has said it remains committed to becoming a net-zero energy business by 2050.
U.S oil giants Exxon Mobil and Chevron are both scheduled to report earnings on Friday, while European peers TotalEnergies and BP are set to follow suit on Feb. 5 and Feb. 11, respectively.