• Genesis confirmed it’s dropping the G80 Electrified from its lineup after this year.
Until very recently, luxury brand Genesis offered three electric models: the GV60 and GV70 SUVs, and the G80 Electrified sedan.
That last one is set to be dropped, however. The brand quietly removed it from the Genesis websites in both the U.S. and Canada. South of the border, the company confirmed to Insideevs that the model won’t be offered anymore. We can expect an announcement to that effect from Genesis Canada as well, though nothing as been confirmed yet.
Said Jarred Pellat, Senior Manager of Public Relations for Genesis North America, “The customer is at the core of every decision we make, and we remain flexible as we adapt to ever-changing consumer needs and market conditions.”
The withdrawal of the G80 Electrified is not a surprise, for two reasons. First, the model had a selling price that was just too high – in the area of $105,000 CAD here. The car may have been extraordinary, but the price difference with the gasoline variant was far too wide.
And Genesis knew it. Brand representatives confided as much to us on several occasions during brand-held events.
The second reason, which Genesis is unlikely to acknowledge directly, is that the 15-percent U.S. tariffs imposed on vehicles from Korea will further increase the model's price. What's more, the U.S.’ move to slash if not eliminate CAFE (Corporate Average Fuel Economy) standards will create conditions for automakers to drop those often unprofitable “green” models sold purely to meet those standards. Basically, manufacturers no longer face financial penalties if their vehicle fleet is polluting.
You might have guessed that the G80 Electrified was perhaps not among the company's priorities for its development in North America. With fewer regulatory constraints, the decision became easier to make.
We're speculating, to be clear - the manufacturer has confirmed nothing on this front. We are simply reaching this conclusion by analyzing everything that is happening throughout the industry and on the political level.