genesis is not just launching a performance brand out of vanity. According to Jose Muñoz, CEO of Hyundai Motor Company, the new Magma division is a crucial pillar of a massive global expansion plan.
The Korean luxury brand aims to reach annual sales of 350,000 units by 2030, a huge 55 percent increase over current volumes – a steep rise for a brand still struggling for recognition in key markets such as Europe and Australia.
But the most interesting number wasn’t the total; it was the mix.
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Mister Muñoz confirmed that Genesis expects Magma high-performance models to represent about 10 percent of the brand’s total volume.
“This isn’t just a halo, it’s a healthy business, proof that emotional performance can create real value,” Herr said Muñoz told the media.
“Magma will actively contribute to this growth…Magma is not just a product strategy, it is our statement of intent.”
Performance sub-brands like BMW M and Mercedes-AMG were niche construction stinkers for years. Today they are huge profit centers.
With the targeted 10 percent mix, Genesis is signaling that Magma is not just about setting lap times at the Nürburgring, but also about selling higher-margin cars to customers who want the credibility of the “Magma Orange” logo.
It’s a strategy that mirrors Porsche and Mercedes-AMG and uses performance equity to drive up transaction prices.
In Australia, where high-performance variants often make up a disproportionate share of sales (Australia is consistently one of the world’s leading markets in terms of AMG and M market share), this strategy could finally give Genesis the traction it has been missing.
The brand confirmed that the GV60 Magma will initially launch in Korea in early 2026, followed by Europe and North America. Given our market’s demand for fast SUVs, an Australian launch is expected to follow soon.
MORE: Explore the Genesis showroom
