This model will be inspired by the Mint concept from 2019.
The price of raw materials will determine if Genesis can justify making a more affordable model.
Europe will likely be the only market where this EV will be offered.
Genesis is reportedly considering the possibility of making a smaller electric vehicle for the European market.
This premium compact or subcompact vehicle is likely to be based on the Mint concept that was unveiled back in 2019.
This concept was a small two-door fastback that also previewed some of the design cues from the production version of the GV60.
When the Mint was unveiled at the New York Auto Show, Genesis hadn’t entered the European market yet, but now that it has, the company is looking at expanding its lineup on the continent, possibly with exclusive models.
Indeed, smaller vehicles are much more popular in Europe than in North America since roads are narrower and cities are more crowded, making large sedans and SUVs cumbersome to drive and more difficult to park.
Genesis believes that there is a market for a luxury electric vehicle that is smaller than its current GV60 while still being more luxurious than most other premium small vehicles currently offered in Europe.
Genesis also wants to beat Tesla to the small EV game since the American company’s long-awaited Model 2 has yet to be unveiled and introduced.
Adding this new model would also help the brand increase its proportion of EV sales beyond the 52% it saw on the continent in 2022, thus allowing it to reach its target of becoming a fully electric automaker by 2025.
Of course, making a smaller EV usually means making less profit, which is why Genesis says the price of raw materials will be key in its decision to make this model or not.
This might be why very few details are known at the moment, but we expect the production version to feature more than two doors and a larger battery that could give it more range than the 200 miles (322 kilometres) claimed by the Mint concept.
Although, keeping a smaller battery could make sense for a vehicle designed primarily for city driving, especially since Genesis benefits from an 800-volt battery architecture that allows very fast charging on long road trips.