Genesis GV60 Magma: 641-HP EV Undercuts BMW M3 by Thousands

For around $70,000, performance car buyers usually get entry-level German sports sedans or pricey EVs with limited range. Genesis has just disrupted that formula with its first performance model, the 2027 GV60 Magma, priced at $69,950 before destination, over $9,000 less than the cheapest BMW M3 while out-powering the most expensive one.

4-second 0-60 mph time. That matches the top M3 Competition xDrive, which costs $88,600 and makes 523 hp. The base M3 starts at $79,300 with 473 hp. Genesis also includes a factory Drift Mode that balances torque for controlled slides, something BMW doesn't offer at any price.

0-kWh battery providing an EPA-estimated 222 miles of range. Charging from 10 to 80 percent takes as little as 18 minutes on a 350-kW connection. A Virtual Gear Shift simulates an eight-speed dual-clutch transmission with sounds tuned to a 9,000-rpm V6, drawing input from Magma Racing drivers.

Reviewers report the simulated shifts feel genuinely entertaining, not gimmicky.

However, the Magma weighs roughly 4,960 lbs, about 1,000 lbs more than an M3 sedan, and its limited range means track days end at a charger. It's also launching only at select retailers in California, New York, and New Jersey, with no wider availability announced. The Hyundai Ioniq 5 N offers the same 641 hp for $59,900, but the Genesis adds unique seats, Bang & Olufsen audio, and a longer Boost window.

Genesis backs the Magma with three years of complimentary maintenance and a 10-year battery warranty. While it's hard to buy, the GV60 Magma signals the brand's intent as it enters endurance racing from 2027. As a first performance vehicle, it delivers more power than any M3 for thousands less, if you can find one.