It appears unlikely that the superb Genesis G70 sports sedan will survive a second generation if a new report out of Korea is to be believed.
Genesis first introduced the G70 to much fanfare in 2017. It received near-universal positive reviews and served as a superb alternative to the BMW 3-Series and Mercedes-Benz C-Class but for less money. However, sales have been declining over the past 3 years from a peak of 16,975 units sold in Korea in 2019 to just 6,087 sold in 2022. In Europe, it is understood that just 96 examples were sold in 2022.
The car manufacturer has been working on a second generation of the G70 and planned for it to be all-electric. The project was known internally as RN2 but Korea JoongAng Daily says Hyundai recently made an internal announcement confirming that development of this new model has been halted.
“Recently, there was an official announcement within the company that it officially halted the development of RN2, a project name for the next G70,” a source told the Korean news outlet.
The source added that in switching the G70 to an EV, it was going to grow considerably over the current model and could have encroached on the larger G80 sedan. That could have proved to be an issue for Genesis as the G80 is its best-selling vehicle.
Read: Genesis Boosts 2024 G70 In South Korea With 300 HP 2.5-Liter Turbo Four Option
“In the early stages of development, the next G70 was about to get much bigger than the current model,” the source added. “But in that case, it will not be notably different from G80, and that’s why Hyundai decided to drop the project.”
Genesis launched a slightly updated version of the G70 back in May. While the visual changes are limited to new wheels, different badges, a tweaked grille, and new colors, Genesis did go to the trouble of dropping the entry-level 2.0-liter turbocharged four-cylinder in favor of a more powerful 2.5-liter turbocharged four-pot.
