Time Is Running Out To Get This Genesis EV With A Tax Credit

Hyundai Motor Group’s (HMG) premium brand Genesis may be South Korean through and through. Still, thanks to the group’s massive North American presence, Genesis also has access to North American manufacturing, enabling it to stay resilient to today’s economic and political conditions.

Base Trim Engine

EV

Base Trim Transmission

Automatic

Base Trim Drivetrain

All-Wheel Drive

Base Trim Horsepower

429 HP

Base Trim Torque

516 lb.-ft.

Among Genesis’ EV models, the Electrified GV70 is the sole model eligible for the $7,500 Federal Tax Credit, which is set to expire on September 30. It’s also one of the few EVs in the premium segment that are eligible. But, before you rush to your nearest Genesis dealer, here’s what you need to know about the Electrified GV70, and whether it’s an electric SUV that’s worth the splurge.

A Streamlined Style Echoes Refinement

Adam Gray | TopSpeed

For the GV70’s mid-cycle facelift, Genesis focused on cleaning up its design for a more streamlined look. These changes apply to both the internal combustion engine (ICE) version and the Electrified GV70.

Smoothed Edges Bring Out Mature Design

Adam Gray | TopSpeed

Whereas the outgoing Genesis GV70 had somewhat edgy lines, the new model cleans it all up a bit. Starting with its front fascia, a smoother look has been achieved by a new front bumper with fewer creases and thus, a more rounded look. The lower air intake has also been given a more curvaceous shape, while the grille has been slightly revised for both models.

In the case of the Electrified GV70, the grille is enclosed, and it’s now the location for its new charge port with an NACS plug. The side profile and rear bumpers on both versions remain largely unchanged, but the LED taillights have been slightly redesigned to perfectly match the brand’s signature Two-Line LED headlights.

Premium And High-Tech Interior

Adam Gray | TopSpeed

While the exterior changes are modest, the interior upgrades are much more pronounced. The premium and well-built dash has been slightly redesigned to accommodate a new 27-inch OLED display, replacing the previous separate infotainment and gauge cluster displays. The 27-inch display runs the connected car Integrated Cockpit (ccIC) operating system, a more sophisticated version of the connected car Navigation Cockpit (ccNC) that’s found in the core Hyundai and Kia models. ccIC basically combines the functionality of the gauge cluster and the infotainment system as opposed to treating them as separate entities, enabling a deeper integration between driver functionality and passenger entertainment needs.

Apart from the new screens and software, the interior itself remains almost unchanged, and that’s mostly a good thing. That means there’s a generous number of physical controls, while, in typical Genesis fashion, the materials used are downright premium and nice to the touch. There’s a sort of ’80s space age vibe to the color choices and generous serving of satin silver aluminum trims, bringing to mind the aesthetic of aluminum luggage or vintage piston airliners.

Unfortunately, Its Capabilities Are So-So

Genesis

Unfortunately, this is where the Electrified GV70 starts to fall short, especially next to HMG’s cheaper EV offerings. This is all due to the Electrified GV70’s constraint as being an electric vehicle (EV) that isn’t built on top of a bespoke EV architecture.

Range Isn’t Anything To Write Home About

Genesis

One of the sore points of the previous Electrified GV70 was its 236 miles of EPA-estimated range. Thanks to a larger 84-kWh battery replacing the previous 77.4-kWh unit, its range has now been increased to 263 miles. But, of course, these range estimates are for the most efficient version. Opting for the two higher trims with 20-inch wheels, the EPA-estimated range will drop to 243 miles. It’s no wonder that the Electrified GV70 isn’t that compelling as an EV, since the cheaper, albeit smaller, GV60 sells in bigger numbers.

Blame the Electrified GV70 for being merely an EV that’s based on an ICE car, which leads to packaging and efficiency constraints versus an EV that was built on top of a dedicated EV platform. To be fair, BMW’s EVs also aren’t built on top of bespoke EV platforms, but to their credit, they have versions with a focus on efficiency, enabling more than 300 miles of range. The GV70 is only available in dual-motor all-wheel-drive (AWD) versions, which, while powerful at 429 horsepower and 516 pound-feet, won’t offer a lot of range as a consequence. A version with a single-motor rear-wheel drive (RWD) layout is clearly needed.

At Least The Luxury EV Charges Fast

Genesis

But if there’s one area where the Electrified GV70 excels, at least when compared to other EVs built on top of ICE platforms, that would be its ultra-fast charging speeds. Though it isn’t based on the E-GMP platform, the Electrified GV70 managed to inherit its 800-volt architecture, allowing a 10-80 percent charge in just 19 minutes.

2026 Genesis Electrified GV70 Performance Specs

In terms of outright output, that’s a 240-kW max DC charging output, which is fast, though not as fast as the 350 kW that cars like the GV60 can achieve. AC charging is also good at 11 kW, though not cutting-edge by any means. Though the Electrified GV70’s range isn’t outstanding, perhaps the fast charging capabilities can make up for its so-so range.

Trouble May Be Brewing For The Genesis EV

Adam Gray | TopSpeed

If you want one, you’d better act fast, as the September 30 expiry date of the $7,500 Federal Tax Credit draws nearer. However, the future of the electric SUV is in question at the moment.

Well-Priced After Incentives And Offers

Adam Gray | TopSpeed

The 2026 Genesis Electrified GV70 starts at $64,380 for the base AWD, and it’s already the variant we recommend you get. This is due to its balance of features, price, and, more importantly, being the version with the highest range. From there, the Electrified GV70’s price tag will be reduced by a total of $8,500, thanks to an ongoing Genesis Signature Event that adds a $1,000 Bonus Cash offer when you buy an Electrified GV70 from dealer stock. At its final price of $55,880, we think it’s actually the right price for this vehicle, and what should have been in the first place.

Now, regarding the Federal Tax Credit, as it turns out, you don’t have to take delivery and ownership of the eligible EV by September 30. The Internal Revenue Service (IRS) says that simply having a binding contract in place by that date should suffice. However, the binding contract should include a “nominal down payment or a vehicle trade-in” as well as the condition that a person can’t apply for the tax credit until they actually take possession of the car.

Genesis Halts Electrified GV70 Production

Genesis

But if you want a sign that the Electrified GV70 may be in a rocky position, that would be the news that HMG has stopped American production of this electric luxury SUV in June. The report came from Business Korea, which insists that the production stoppage isn’t even just a pause, but a permanent discontinuation of the electric SUV. This is due to declining sales over the past years, which incentivized HMG to reduce the production output of the group’s first American-made electric offering.

However, a Genesis spokesperson told Carscoops the following statement, in which, from their end, this is just a production pause: