Starting at $65,850, the Electrified GV70 is about $8,000 more expensive than the standard gas-powered GV70. A $7,500 federal tax credit would overcome that difference, but this vehicle doesn’t qualify despite being built in Alabama.
“The US-assembled Electrified GV70 is no longer eligible for the EV tax incentive when purchased by consumers. However, it does receive the tax credit when leased, and Genesis passes that on to consumers with more attractive lease pricing,” a Genesis spokesperson told CarBuzz. So if you’re considering this car, we highly recommend leasing it, especially with all the uncertainty surrounding the switch to the NACS charging connector. It’s also worth noting this vehicle is only sold in 23 states, so it may not be available where you live.
The Prestige Package adds another $6,800, bringing the price to $73,225. That’s significantly more expensive than a Tesla Model Y, but the GV70 is in a different league in terms of quality. The Cadillac Lyriq is the closest in terms of size and price. It starts at under $60,000 and delivers a higher range, but delivers less standard power, slower charge speeds, and may be even harder to find at dealers due to production constraints.
The Electrified GV70 is nearly flawless as a vehicle, but government intervention and lack of availability are demerits on an otherwise perfect record. We wish Genesis would offer a less powerful model with a higher range or a larger battery. As it stands, it’s an excellent product that has just a few niggles for buyers to consider carefully. It’s unlikely that anyone would regret this purchase, though.
