The 2023 Genesis GV60 marks the latest entry into the luxury electric SUV segment. And while it doesn’t have the branding cachet of Lexus or Cadillac, the GV60 holds up against the competition. Take the Cadillac Lyriq, for example. Despite not having the Caddy pedigree, the Genesis GV60 beats the Lyriq in several areas.
The 2023 Genesis GV60 has a lower starting price than the Cadillac Lyriq
The 2023 GV60 is being marketed as not just a luxury brand, but a Genesis. And because many potential buyers don’t have any association with Genesis, it’s easier to impress consumers that this new brand is synonymous with luxury.
However, some customers may be surprised to learn that Genesis is a division of Hyundai, a company better known for affordability and reliability than luxury. But with the Hyundai brand comes expertise in making low-cost vehicles. The starting price of the 2023 Genesis GV60 is well below most models in this segment, including the Cadillac Lyriq. With a modest starting MSRP of $58,890 (per car and driver), the GV60 is price competitive. The Cadillac Lyriq is also relatively inexpensive. But with a starting price of $62,990, it can’t match the GV60 in this arena.
But does a lower base price compromise the quality of the GV60? Not at all. This EV has a powerful 77.4 kWh battery and offers single motor and dual motor options. The single-engine version produces 225 horsepower and 258 lb-ft of torque, while the two-engine variant generates 314 horsepower and 446 lb-ft of torque.
Plus, the lavish interior is high-tech yet stylish. And technical innovations such as a crystal ball gear lever are grand. Each GV60 model also has navigation, smartphone compatibility, wireless charging, a 12.3-inch touchscreen and a 12.3-inch digital instrument cluster.
So while the GV60 is cheaper than the average luxury electric SUV, it doesn’t skimp on performance and tech features.
The 2023 Genesis GV60 has a better standard warranty than the Cadillac Lyriq
Luxury SUVs are not known for their low cost of ownership. Innovative vehicle features, expensive technical features and premium fuel requirements typically drive up the long-term cost of ownership for vehicles in this segment. And while you probably won’t spend a dime if you can afford a luxury electric SUV, why pay more for a vehicle if you don’t have to?
Well, Genesis wants to make sure you don’t have to, with a standard warranty that’s the best of the competition. The basic five-year or first 60,000-mile warranty ensures that your GV60 property will run smoothly for the first few years. In addition, GV60 owners receive a 10-year/100,000-mile powertrain warranty and a free three-year/36,000-mile maintenance package.
Add to that Hyundai’s reputation for reliability and you should be able to avoid serious breakdowns and costly repairs early in the GV60’s life.
By comparison, the Cadillac Lyriq offers new owners a base four-year/50,000-mile warranty and a six-year/70,000-mile powertrain warranty—another reason potential buyers might want to seriously consider the 2023 Genesis GV60.
The Genesis EV comes standard with AWD
For performance, especially in bad weather or rough terrain, you want four-wheel drive. And the 2023 Genesis GV60 delivers by offering standard AWD. Now you’re not going off-roading in your GV60 (or at least you shouldn’t). But rest assured that this electric car will get you where you need to go safely.
Many automakers charge a premium for AWD. Cadillac is one, with AWD available only on the top-end Lyric trim. And while you’d expect these kinds of surcharges on regular cars, paying for extras on luxury vehicles can be frustrating.
While Genesis offers an EV that handily competes with rivals on performance and features, it also delivers a cheaper vehicle with better warranty coverage. Don’t let Hyundai’s pedigree fool you. The 2023 Genesis GV60 is an excellent luxury electric SUV that can compete with the big boys.