Genesis revealed Thursday that its first-ever model to be assembled in the US, the 2023 Electrified GV70 EV, will have a starting price of just under $66,000.

After seeing early success with the gas-powered GV70, Genesis, the luxury division under Hyundai Motor, knew it was only a matter of time before its electrified version took over.

The Electrified GV70 is the third electric vehicle from the Genesis brand, following the GV60 SUV launched in 2021 and the all-electric G80 executive sedan arriving last year. However, the GV70 EV marks a significant milestone as the luxury division looks to establish itself in the US.

It will be the first time a Genesis model will be assembled in the US, let alone outside South Korea. The GV70 will be manufactured at the company’s Montgomery, Alabama, manufacturing plant.

Claudia Marquez, Genesis Motor North America’s chief operating officer, commented on the significant milestone, saying:

The Electrified G70 represents two important milestones as we continue on our journey toward full electrification by 2030. We are pleased to not only be growing our electric product portfolio, but also to be assembling Genesis products right here in America for the very first time.

The luxury electric SUV will not be based on Hyundai’s dedicated EV platform (E-GMP). Instead, it will ride on the company’s GV70 platform.

The exterior features a sleek, dynamic appearance with an updated aerodynamic Crest Grille, exclusive 20-inch EV exclusive wheels, and a minimalist rear bumper.

As for the interior, it features the Genesis “beauty of the white space” design inspired by Korean minimalist architecture with driver-focused elements like ambient lighting, a 12.3-inch digital cluster and navigation, and more.

Genesis 2023 Electrified GV70 EV price

Genesis revealed Thursday that the 2023 GV70 EV will start at $65,850 for the advanced all-wheel drive trim.

For the higher Genesis GV70 Prestige AWD model, the MSRP starts at $72,650 but includes Nappa leather seating, a leatherette-wrapped upper instrument panel, a head-up display, a 3D instrument cluster, superior audio, heated 2nd-row seats, and more.

Both models come equipped with dual 160 kW front and 160 kW rear electric motors, a 77.4 kWh lithium-ion battery, and 400V/800V multi-charging.

At a starting price of around $66,000, the Genesis GV70 EV will compete with other luxury electric SUVs, such as Rivian R1S (MSRP from $73,00), BMW iX ($85,000), Audi e-tron ($70,800), and plenty of others.