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Long-term review

Genesis GV70 - long-term review

£45,635 / as tested £57,995 / PCM £686
Published: 23 Feb 2024
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Electric vs petrol: comparing running costs on the Genesis GV70

Genesis has committed to making all new models purely electric by 2025. That’s not new news, but it has got me thinking. Just how much more does it cost to jump into an electrified GV70 compared to sticking with our trusty, petrol-powered version?

Our £57,995 range-topping GV70 2.5T is a steal for its luxury, albeit a bit thirsty for fuel. So, curiosity led me to jump on the GV70 configurator, at which point I discovered a similarly specced electric GV70 would cost £77,185. Yep, that advanced battery tech comes at a punchy £19k premium.

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At this point, I should mention, if you want to know more about the GV70 Electrified, click here to read our full review.

Anyway, time for some good old number crunching. Topping up our petrol GV70 will set you back roughly £92 for a full tank. Averaging about 24mpg, it will give you about 350 miles of range. The electrified GV70 on the other hand claims a range of up to 283 miles, though our tests adjusted those expectations to a more realistic 220 miles.

Now for the real fun: comparing the costs. Based on current household electricity prices at the time of writing, charging the electrified model's 77.4kWh battery to 100 per cent costs roughly £22, making it 10p per mile to run, easily undercutting the petrol version's 26p per mile. By my maths, you'd need to rack up around 120,000 miles for the running costs of petrol and electric versions to break even. Beyond this point, theoretically, the electrified GV70 becomes the more cost-effective option.

But let's not kid ourselves; there's more to it than just fuel and charging costs. Insurance, road tax, maintenance, to name a few. But what this comparison highlights is maybe why Genesis is taking a measured approach to entering the UK's EV market rather than going all in from the start.

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Many wondered why Genesis didn't debut as an electric-only brand. But EVs are still inherently more expensive, so the availability of a petrol option makes Genesis accessible to a broader audience. And despite its, let's say, less-than-ideal fuel economy, the GV70 is undeniably a top-notch car. Personally, I would lean towards the petrol variant anyway as it suits my current lifestyle better.

But I do wonder if they could be persuaded to reconsider their EV-only plans in favour of offering a hybrid. Perhaps rummaging through Hyundai’s parts bin for hybrid tech could help Genesis keep their prices competitive further down the line? Now that sounds very appealing.

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