2027 Genesis GV60 Update: New $88,300 RWD Slips Under the Luxury Car Tax, 561km Range, June Deliveries

Image credit: Genesis Australia

Genesis has done the thing nobody expected when the brand arrived here, which is build a properly priced electric SUV. The updated 2027 GV60 drops its old AWD-only range, adds a single-motor rear-drive entry car called the Advanced RWD, and opens at $88,300 before on-road costs. That is roughly $15,000 below where the cheapest pre-update GV60 sat, and crucially it slips under the federal fuel-efficient Luxury Car Tax cap, which means novated lease buyers can finally write a Genesis EV off the salary package without a fight. Deliveries start in June 2026.

The other side of the update is a new performance flagship. The GV60 Magma AWD arrives later in the year with a dual-motor 448kW setup, drift mode, virtual gear shift and a fake rev limit borrowed from the Hyundai Ioniq 5 N playbook. We have a full pricing and spec breakdown on the RWD below, plus where it lands in a real cross-shop against the BMW iX3, the Polestar 4 and the cheaper Hyundai-Kia twins on our own CarSorted database.

Pricing

Genesis has trimmed the line-up to two variants at launch. The Advanced RWD is the volume car. The Magma AWD is a separate proposition aimed at people who would otherwise be on an Ioniq 5 N order list. Genesis has not confirmed the Magma RRP yet, but cars sold overseas suggest it will land north of the $130,000 mark once it gets here. Premium servicing is included as a five-year package.

Context matters here. The outgoing GV60 range opened at roughly $103,000 for the Standard AWD and topped out near $116,000 for the Performance, both well above the fuel-efficient LCT line. By switching the entry car to rear-wheel drive and a smaller motor, Genesis claws back the headline price without having to butcher the equipment list. The trade is power and traction, not features.

Powertrain and range

The Advanced RWD runs a single permanent-magnet motor on the rear axle producing 168kW and 350Nm. Those figures are down from the old 234kW dual-motor base car, so the 0 to 100km/h time slips into the high seven-second bracket rather than the low six. In return, the new 84kWh nickel-rich pack stretches WLTP range to 561km, a big jump on the 470km the old AWD base could manage from a 77.4kWh battery. The platform is still the 400V/800V-compatible E-GMP shared with the Ioniq 5 and EV6, so peak DC charging holds at up to 350kW on a suitable hyper-charger.

For a buyer who plugs in at home most nights, the move from 470km to 561km in the entry car is more meaningful than the power drop. The previous base GV60 already had more grunt than a single driver needs day to day, and the RWD switch makes the car cheaper to run as well as cheaper to buy because there is one less motor sapping energy on a steady-state cruise. We will run our own real-world watt-hour-per-kilometre numbers as soon as we get behind the wheel.

Interior and equipment

The headline cabin change is a new 27-inch OLED panel that combines the digital instrument binnacle and the infotainment touchscreen into a single curved glass slab. It carries the latest Genesis software, wireless Apple CarPlay and Android Auto, augmented-reality navigation, over-the-air updates and Digital Key 2.0, which lets you unlock and drive the car using a smartphone, smartwatch or fingerprint reader. Genesis has also retuned the suspension and damper calibration, and the sound deadening package has been overhauled to chase a quieter cabin at highway speed.

Standard equipment on the Advanced RWD covers Micro Lens Array LED headlights, 19-inch alloys, body-coloured wheel-arch cladding (replacing the old grey plastic), heated and ventilated leather front seats with 12-way power adjustment for the driver, a heated steering wheel, a panoramic glass roof, a Lexicon-branded premium audio system and vehicle-to-load capability through both an interior socket and an exterior charge-port adapter. Ten airbags are fitted, including a centre side bag.

The Magma adds a wider track, a unique aero kit with triple-hole front bumper and brake-cooling vents, 21-inch forged alloys on bespoke Pirelli rubber, larger brakes, an electronic limited-slip differential, more aggressive seats and the kind of Magma Orange paint that does not want to be missed in the rear-view mirror.

Safety

The updated 2027 GV60 is not yet rated by ANCAP. The pre-update car carried a five-star result under the 2022 protocol with strong adult and child occupant scores, but a fresh rating typically follows the styling and equipment changes Genesis has made here. Standard driver-assistance kit covers autonomous emergency braking with intersection support, adaptive cruise with stop-and-go, lane-keep assist, lane-follow assist, blind-spot view and intervention, rear cross-traffic alert with braking, a surround-view monitor, automated parking and a driver-attention monitor. A remote parking function lets you nudge the car in and out of a tight space using the key fob, useful on a narrow inner-city driveway.

How it compares

Below $90,000 before on-roads the premium electric SUV pack is suddenly crowded. The new BMW iX3 50 xDrive starts at $109,900 with bigger numbers across the board (108.7kWh, up to 805km WLTP, 345kW), but it costs $21,600 more. The Volvo EX60 P6 RWD opens at $86,990 with a 610km claim, almost the same money as the Genesis. The Polestar 4 Long Range Single Motor sits around $81,500 with 620km of WLTP range, undercutting the GV60 by roughly $7,000.

Inside Hyundai Motor Group itself the picture is interesting. The updated Kia EV6 Air on the new 84kWh pack now claims 582km WLTP from $72,660 before on-roads. The Hyundai Ioniq 5 with the matching pack is currently going out the door from $71,990 driveaway under EOFY pricing. Both share the same battery, same 800V platform and same charging hardware as the GV60. The Genesis tax is essentially the badge, the cabin materials, the warranty package and the styling. At $88,300 that premium is back to where most buyers can rationalise it.

For a true like-for-like buyer, the comparison nobody else is making is GV60 versus the brand's own Electrified GV70. The GV70 sits a class above on space and equipment, runs a dual-motor 360kW AWD setup and currently lists at roughly $138,000 before on-roads. With the GV60 now at $88,300, the gap inside the Genesis EV range opens up to about $50,000, which gives a new buyer a clear value entry point rather than a forced step into the larger SUV.

Warranty and ownership

Genesis Australia carries the brand's usual five-year, unlimited-kilometre vehicle warranty, with an eight-year, 160,000km warranty on the high-voltage battery. The Genesis Service experience package, which includes free scheduled servicing for five years or 75,000km, pick-up and drop-off via a courtesy vehicle, and a five-year complimentary mapping update subscription, all carry across to the 2027 car. Three years of complimentary Chargefox public-charging access is also included, which is worth real money against the current public rates.

The CarSorted angle

On the CarSorted directory, the Genesis GV60 is listed in pre-update form with the older 77.4kWh battery, a 234kW AWD drivetrain and a $103,000-ish RRP. The 2027 update changes three of those four numbers at once: bigger battery, lower power, lower price. Run our /compare tool over the GV60 against the Kia EV6 Air and the Polestar 4 Long Range Single Motor and the running-cost columns line up surprisingly tight. The Genesis is more expensive on the sticker, but it now qualifies for the FBT exemption and ships with three years of free Chargefox, which closes the lifetime cost gap inside two years of normal commuting.

For a salary-packaged buyer driving 18,000km a year, the FBT exemption alone is worth roughly $4,500 to $6,500 a year in post-tax income depending on marginal rate and lease structure. That is the lever Genesis has actually pulled with this update. The 2027 GV60 was not a particularly bad car at $103,000. It was just locked out of the most powerful tax incentive in Australia. Pushing the RRP under $91,387 unlocks every novated lease desk in the country.

What this means for buyers

Three buyer profiles change their answer with this update. First, the FBT-driven salary packager who was looking at a Polestar 4 or an EV6 GT-Line on a novated lease can now seriously add the GV60 Advanced to the shortlist. The annual lease cost is broadly comparable once the Chargefox and capped-price servicing are stacked, and the Genesis cabin is a clear step above on materials. Second, the cross-shop buyer who wanted the badge but balked at $103,000 finally has a reason to walk into the showroom. Third, the buyer who was waiting on the Volvo EX60 at $86,990 now has a like-for-like price-matched alternative with Hyundai Motor Group reliability data behind it.

The buyer profile this is not for: anyone who was on an order list for a Performance AWD GV60 specifically because they wanted the 0-to-100 acceleration. The new RWD is meaningfully slower, and the only AWD option in the 2027 line-up is the Magma flagship, which is likely to sit well above $130,000 and back into LCT territory once it lands here. If you want AWD without paying Magma money, the cleanest move is a Kia EV6 GT-Line AWD on the updated 84kWh pack, which still gets you to 100km/h in roughly five seconds for about $20,000 less.

Our short version: the entry GV60 is the rational pick for a metro buyer who plugs in at home, salary-packages a novated lease, and wants premium-segment build without the premium-segment tax bill. If that is your situation, get the order in early, because Genesis Australia's allocation on luxury EVs has tended to be small.

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