Genesis is making a name for itself in the US luxury market with a bold style and high-quality design. The luxury Genesis brand is outpacing rivals, closing in on Porsche and Land Rover in sales as its all-electric models expand into new states.
After launching in the US in late 2016, Hyundai’s luxury division, Genesis, is making its presence known in a big way.
After overtaking Nissan’s Infiniti luxury brand in 2022, Genesis is aiming for more. Genesis sales have grown from less than 7,000 in 2016 to over 69,000 last year, according to data from CNBC. The brand’s closest rivals include Porsche (75,415), Land Rover (71,727), Lincoln (81,818), and Volvo (128,350).
Genesis believes the momentum will continue with double-digit sales growth annually over the next few years.
A big reason for the optimism is Genesis’ electric vehicles. Genesis sells three electric vehicles in the US: the GV60, Electrified GV70, SUV, and Electrified G80 sedan.
According to Cox Automotive data, Genesis sold 6,403 EVs in the US in 2023, up 283% from 2022 and outpacing rivals Lexus and Lucid.
In March, Genesis revealed the stunning Neolun concept, previewing its first full-size luxury electric SUV. It will serve as the brand’s tech beacon, featuring “innovation that exceeds conventional standards.”
Genesis expands EV availability to outpace luxury rivals
Genesis also revealed the GV60 Magma, the first vehicle for its new high-performance brand. The sportier Magma brand is designed to spread awareness and boost sales.
Each of Genesis vehicles will get a performance Magma upgrade as it looks to grow the brand. Genesis Magma will rival Mercedes-AMG, which previewed its first high-performance EV earlier this year.
Meanwhile, Genesis announced Tuesday that its electric models are now available in 37 US states. That’s up from 33 last October, with the GV60, Electrified GV70, and Electrified G80 available in Alabama, Kansas, Oregon, and Rhode Island. Genesis EVs are now available in:
Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Florida
Georgia
Hawaii
Illinois
Indiana
Louisiana
Maryland
Massachusetts
Kansas
Kentucky
Michigan
Minnesota
Missouri
Nebraska
Nevada
New Hampshire
Ohio
Oklahoma
Oregon
New Jersey
New York
North Carolina
Pennsylvania
Rhode Island
South Carolina
Tennessee
Texas
Utah
Virginia
Washington
and Wisconsin
Genesis Motor North America COO Claudia Marquez said, “This latest phase of growth allows for even more customers to discover our award-winning EV lineup.”
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The Canadian home improvement chain picked up a pair of Volvo VNR Electric semi trucks, and it’s putting them to work on last-mile delivery routes in the Greater Toronto Area.
This month, the Canadian home improvement retailer Home Hardware began operating two Volvo electric semi trucks out of its St. Jacobs, Ontario truck depot. The pair of trucks will fulfill last-mile deliveries throughout the area, and mark the company’s first step towards transitioning its entire fleet to zero-emission vehicles.
The Volvo VNR trucks have an operating range of 442 km (about 275 miles). Their delivery routes will take them from Home-brand stores within a 100-150 km (about 90 miles) radius of the St. Jacobs distribution centre.
“We are proud to introduce our new battery-electric trucks to our privately-owned fleet,” said Kevin Macnab, president and chief executive officer, Home Hardware Stores Ltd. “Recognized by the Private Motor Truck Council as Safest Large Fleet, as well as Trucking HR Canada as a Top Fleet Employer and a Fleet of Distinction, Home Hardware Stores, Ltd. is committed to forward-thinking logistics that evolve our supply chain to best support our dealers so they can serve their communities.”
Home Hardware debuted their new Volvo VNR Electric trucks at the company’s 60th anniversary celebration and annual franchise event, the Home Hardware Homecoming, held last week in Toronto, Ontario, Canada.
Is that an insurmountable head start for companies like Tesla to make up? It’s hard to know (and my brain is broken, anyway), but I invite you to check out this episode of Quick Charge recorded a few weeks ago (below) talking about Volvo Truck’s lead, and then share your take on the state of the electric semi truck market in the comments.
The newest edition to the CAA-Quebec roadside fleet is a fully electric Lion5 flatbed – and the CAA says it’s the first 100% electrique tow truck in service in North America!
Based on the Lion5 medium-duty truck and upfit with a flat bed body developed by XpaK Industries, CAA-Quebec (think AAA, but in Quebec) is marking an important milestone in its 80-history with the deployment of the first electric tow truck in Canada.
“Roadside assistance has always been in CAA-Quebec’s DNA, and it goes without saying that we are taking the lead in electric towing. We have a responsibility to set an example and take a leadership role in protecting the environment,” said Marie-Soleil Tremblay, president and CEO.
As far as the truck itself goes, the Lion5 chassis is packed with 210 kWh of in-house, 800V battery packs. Those are good for a range of up to 310 km (a touch over 190 miles) courtesy of an energy-efficient, high-torque electric motor putting 315 hp that Lion Electric claims can eliminate between 75 and 100 metric tons of greenhouse gas per year compared to a comparable diesel truck.
What’s more, the Lion5-based tow truck promises to reduce CAA-Quebec’s energy (read: fuel) costs by about 80%, and regular maintenance costs by about 60% compared to gas or diesel vehicles in the same class.
“With this new 100% electric, made-in-Quebec tow truck, we are helping to redefine the future of the towing industry,” said Patrick Gervais, VP Trucks and Public Affairs at Lion. “We are proud to be part of a cleaner and more sustainable future with players like CAA-Quebec and XpaK.”
The Lion5 tow truck was delivered in July, and will spend a year being put through its paces in a multitude of towing situations and extreme weather conditions. CAA-Quebec’s roadside assistance service will share its experience with partners throughout Canada and the AAA in the US.
Electrek’s Take
“Electrek’s Take” is where we put our industry experience to use interpreting the news we report. Here, in an article about a “first ever” new commercial segment being entered by a highly visible EV, I probably should be talking about operating costs, “dollars and sense,” and the importance of stabilized costs for a fleet manager’s projections.
Best known in the US as the OEM behind Nikola, Italian truck brand IVECO entered the 2.5 to 3.5 ton medium duty commercial van segment at this week’s IAA Transportation conference with this: the eMoovy electric chassis cab.
The IVECO version leverages the Hyundai’s excellent 800V architecture. That means the eMoovy supports ultra-fast 350 kW charging and V2x functionality, so it can be used to back up a job site, supply power to workers, or even power a home (presumably).
In that article, Peter wrote that, while Hyundai would develop and build the chassis, IVECO would customize the electric vans to suit broader commercial markets and distribute the vehicles throughout its network. If that sounds familiar, that’s because (on the surface, at least) the deal seems pretty similar to the one IVECO has with Nikola … which begs the question: will Nikola get an eMoovy variant to sell in the US?
The new electric van will directly target Ford E-Transit customers in Europe, so there’s no reason to believe it won’t be an attractive alternative for commercial fleets on this side of the pond, as well – especially with the “big rig” street cred that could come with the Nikola association.
Electrek’s Take
The commercial EV market is driven by dollars and cents. If EVs have a lower total cost of ownership (TCO) than their gas or diesel counterparts? They’ll continue to sell, and their market share will continue to grow. The only question Hyundai and IVECO need to answer is whether North American truck buyers be more likely to buy a Hyundai-branded van, or a Nikola one.
We asked a similar question to Kia’s James Bell on Quick Charge a few weeks back. Listen to his response to those questions, below, then share your thoughts in the comments section at the bottom of the page.