EV model demand outweighs supply: Genesis

GENESIS Australia has released two new EV models Down Under this week, the Electrified GV60 and Electrified G80 the latest in a series of vehicles that will gradually shift the luxury brand’s line-up toward purely electric by the end of this decade.

Speaking to media gathered for the models’ launch in Melbourne last week, head of Genesis Australia, Connal Yan, said the GV60 has just 150 examples earmarked for local consumption this year, with “over 100” already the subject of a firm order.

Mr Yan said that although supply for the pure electric crossover is tight, there is “no cap” on the model for Australia, a point he reiterated for the G80 sedan for which he said there is even “less volume” available, despite more than 600 expressions of interest.

“We’ve had a large, private customer level of interest with over 600 enquiries … these are customers who want that flagship luxury experience in an EV … they are maybe chief executives and tech CEOs that want something different and a little bit unique but not ‘out there’,” he said.

“At the moment, the demand (on both vehicles) is way more than we can supply. Basically, for the GV60, we have 150 cars this year … and we have sold already more than 100. It’s pretty much the same situation for the G80, perhaps less.

“We don’t have a ‘capped’ number at the moment, but basically, in terms of what we have requested so far, we’re not experiencing any difficulties.

“With GV60, the reasons for the limited supply are supply chain issues, and pretty much the same factors that are affecting much of the industry. There’s no solid data (on when the situation will improve) and it’s too early to speculate. Of course, we hope that things will normalise and get better, but at the moment, we don’t see major differences to what we’re facing at the moment.”

When asked whether federal policies surrounding EVs and vehicle emissions would result in an upswing of supply for Australia, Mr Yan said “there is no way of guaranteeing that such emissions regulations would help in bringing supply in line with other EV markets”.

The GV60 – which shares the same E-GMP platform as the Hyundai Ioniq 5 and Kia EV6 – is the brand’s first dedicated-platform electric offering in Australia. The G80 rides on a modified version of the ICE model’s architecture.

Priced from $103,700 plus on-road costs, the Electrified GV60 is a battery electric vehicle with an optimal range of 470km (WLTP) and 350kW DC fast charging capabilities that enable it to be charged from 10 to 80 per cent in just 18 minutes.

The coupe-style medium SUV is offered in AWD ($103,700 before on-road costs) and Performance AWD ($110,700 + ORC) variants offering 234kW/605Nm and 360kW/700Nm outputs respectively.

An efficient rear-wheel-biased e-AWD system features a disconnector actuator system (DAS) that can separate or connect the motor and the drive shaft according to driving conditions, Genesis says, while a Boost mode on the Performance AWD releases a 10-second boost of energy that permits a claimed 0-100km/h dash of 4.0 seconds.

Meanwhile, the G80 large sedan – priced from $145,000 + ORC – is offered in just one Luxury Grade trim and uses a dual motor, all-wheel drive configuration providing a combined output of 272kW/700Nm, sufficient to accelerate the model from rest to 100km/h in 4.9 seconds.

The G80 features an 87.2kWh battery with DC fast-charging capability that allows a 10 to 80 per cent charge in 22 minutes. The G80 also offers Genesis’ DAS technology for improved efficiency. The model’s optimal range Is quoted at 520km (WLTP).

All Genesis Electrified models are backed by a five-year/unlimited-kilometre warranty with complimentary servicing and Genesis To You valet service. The high-voltage battery is warranted for eight years while roadside assistance and complimentary map updates are offered for 10 years.

Genesis also offers the choice of a five-year Chargefox subscription or home AC charger and installation with the purchase of every new model.

The Genesis Electrified range will be bolstered again before the end of the year by the larger Electrified GV70 SUV. The model will be priced from $127,800 plus on-road costs.