Genesis Electrified GV70 wins Best Residual Value by Canadian Black Book

Genesis Motors Canada proudly announces that the 2024 Electrified GV70 has been awarded Canadian Black Book’s 2024 Best Residual Value Award in the Electric SUV category, for vehicles above $60,000. This accolade underscores the Electrified GV70's exceptional value retention, as measured by the forecasted percentage of its original price after four years. Genesis took the top spot in the segment, followed by the Mercedes-Benz EQE and Volvo C40 in second and third place, respectively.

"We are incredibly honoured to have the 2024 Genesis Electrified GV70 recognized by Canadian Black Book. This award is a reflection of our commitment to excellence and our vision for the future of electrification," says Eric Marshall, director of Genesis Motors Canada. "The Electrified GV70 exemplifies our dedication to providing consumers with vehicles that offer elegant styling and dynamic performance, as well as a frictionless ownership experience."

Now in its third year, the Best Residual Value Awards have expanded to include crossovers in various categories. Reflecting the continued shift of consumer preferences towards SUVs, categories now recognize Compact, Sub-compact, Mid-size, and Full-size models in both mainstream and luxury segments.

“There are more EVs on the roads; more people researching, buying, and leasing them; and more options from automakers,” said Daniel Ross, CBB’s senior manager of industry insights and residual value strategy. “They are becoming common and, therefore, consumer education is increasing, which helps bring up residual values.”

Presented during the 2024 Canadian International Auto Show in Toronto, the Best Residual Value Awards forecast the residual value of 2024 model year vehicles into 2028, highlighting the significance of long-term quality and sustainability in vehicle ownership. This recognition marks a milestone for Genesis in the EV space, reinforcing the brand's commitment to innovation and quality.

INEOS Automotive introduces the INEOS Fusilier - One vehicle, two powertrains

2025 INEOS Fusilier

INEOS Automotive has unveiled its brand new 4X4 vehicle, the INEOS Fusilier, following the confirmation of a zero-emission model line in May 2022. The new vehicle will deliver world-class off-road capability, with zero compromise to on-road performance, and offers both zero and low emission options.


Unveiled in London by Sir Jim Ratcliffe, it was confirmed that alongside the previously announced all-electric powertrain (BEV), a low emission range-extender electric is in development to ensure the INEOS Fusilier meets the broadest range of global consumer needs while pushing towards decarbonization. The range-extender option consists of a small petrol engine that powers a generator to maintain the charge level of the battery for when external charging isn’t available. Confirmation of the alternative powertrain details and launch timings are expected by autumn 2024.


Sir Jim Ratcliffe, Chairman of INEOS says, “As we developed this vehicle, we quickly concluded that in order to move towards decarbonization but continue making cars that consumers want to drive, we need a mix of powertrain technologies. BEVs are perfect for certain uses: shorter trips and urban deliveries, but industry and governments need to have realistic expectations around other technologies that can help accelerate the necessary pace of change. That is the reason we are offering an additional powertrain for the Fusilier, one that dramatically reduces emissions but has the range and refuelling capabilities needed.


Developed in conjunction with industry-leading automotive supplier, Magna, which will also manufacture the vehicle in its facility in Graz, Austria, the INEOS Fusilier will represent a unique proposition for customers. Building on the Grenadier’s DNA with a modern direction and distinctive identity, the new 4X4 will be slightly shorter in length and slightly lower in height. It will be built on a bespoke skateboard platform with a steel top hat and underbody, and aluminum doors and closures.


INEOS partnered with Magna on the development of the Grenadier station wagon and Quartermaster pick-up. As one of the world’s largest automotive suppliers and independent contract manufacturers, Magna produces a number of conventional ICE, hybrid and electric vehicles for various automakers. Part of the development process for the INEOS Fusilier will include a rigorous testing program on Austria's Schöckl mountain, close to Magna's complete vehicle assembly facility in Graz.


Lynn Calder, CEO of INEOS Automotive, comments, “Announcing our third model line is another significant milestone for INEOS Automotive, cementing our intent as an automotive manufacturer – like our full vehicle line-up, we are here for the long-haul.”


Demonstrating its wider commitment to future decarbonization, INEOS Automotive also unveiled a Grenadier Hydrogen Fuel Cell Technology Demonstrator at the Goodwood Festival of Speed in July 2023. The Demonstrator proves that the technology for a hydrogen-powered 4X4 is capable and ready for production, but the refueling infrastructure needs to be in place before it is commercially viable.