The 2023 Genesis GV60 marks the latest entry into the luxury electric SUV segment. And though it doesn’t carry the brand cachet of Lexus or Cadillac, the GV60 stacks up well against the competition. Take, for instance, the Cadillac Lyriq. Despite not boasting the Caddy pedigree, the Genesis GV60 bests the Lyriq in several areas.

The 2023 Genesis GV60 has a cheaper starting price than the Cadillac Lyriq

The 2023 GV60 is marketed as not only a luxury brand but also a Genesis. And because many prospective buyers don’t have any associations with Genesis, it’s easier to impress upon consumers that this new brand is synonymous with luxury.

However, some shoppers might be surprised to learn that Genesis is a division of Hyundai, a company better known for affordability and reliability than luxury. But with the Hyundai brand comes expertise in making inexpensive vehicles. The 2023 Genesis GV60’s starting price comes in well below most models in this segment, including the Cadillac Lyriq. At a modest starting MSRP of $58,890 (per Car and Driver), the GV60 is competitive in price. The Cadillac Lyriq is also relatively inexpensive. But at a starting price of $62,990, it can’t match the GV60 in this arena.

But does a lower base price compromise the GV60’s quality? Not at all. This EV packs a potent 77.4 kWh battery and offers single-motor and dual-motor options. The single-motor version produces 225 hp and 258 lb-ft of torque, while the dual-motor variant generates 314 hp and 446 lb-ft of torque.

In addition, its opulent interior is high-tech yet stylish. And tech innovations like a crystal sphere gear selector are grand. Every GV60 model also has navigation, smartphone compatibility, wireless charging, a 12.3-inch touchscreen, and a 12.3-inch digital instrument cluster.

So, although the GV60 is less expensive than the average luxury electric SUV, it’s doesn’t skimp on performance and tech features.

The 2023 Genesis GV60 has a better standard warranty than the Cadillac Lyriq

Luxury SUVs aren’t known for their low cost of ownership. Innovative automotive features, pricey tech amenities, and premium fueling requirements typically drive long-term ownership costs up for vehicles in this segment. And though you probably aren’t pinching pennies if you can afford a luxury electric SUV, why pay more for a vehicle if you don’t have to?

Well, Genesis wants to ensure you don’t have to, with a standard warranty that’s bests the competition. The basic warranty covering five years or the first 60,000 miles assures your first few years of GV60 ownership will be smooth. Moreover, GV60 owners get a powertrain warranty of 10 years/100,000 miles and a three-year/36,000-mile complimentary maintenance package.

Add to that Hyundai’s reputation for reliability, and you should be able to avoid serious breakdowns and costly repairs early in the GV60’s operating life.

For comparison, the Cadillac Lyriq offers new owners a basic four-year/50,000-mile warranty and a six-year/70,000-mile powertrain warranty — another reason prospective buyers might want to give the 2023 Genesis GV60 serious consideration.

The Genesis EV comes standard with AWD

For performance, especially in inclement weather or on tough terrain, you’ll want all-wheel drive. And the 2023 Genesis GV60 delivers by providing AWD as a standard feature. Now, you won’t go off-roading in your GV60 (or at least you shouldn’t). But you can take comfort in knowing that this EV will get you safely where you need to go.

Many automakers charge a premium for AWD. Cadillac is one, with AWD available on only the range-topping Lyric trim. And though you might expect these kinds of upcharges on mainstream cars, paying for extras on luxury vehicles can be frustrating.

While offering an EV that handily competes with rivals in performance and features, Genesis also delivers a less expensive vehicle with better warranty coverage. Don’t let the Hyundai pedigree fool you. The 2023 Genesis GV60 is an excellent luxury electric SUV that can compete with the big boys.