Genesis, which was launched as a stand-alone luxury division of Hyundai in 2015 to compete with high-end brands such as BMW, Mercedes and Lexus, has announced that it will sell both conventional and electric ICE models in Europe.
The range for Europe includes – the Genesis G80 sedan, the GV80 SUV, the new G70 sedan and the GV70 SUV
South Korean-based Hyundai Motor Co on Tuesday announced that it will launch its premium brand Genesis in Europe this summer, showcasing its flagship sedan and sport utility vehicle (SUV) in one of the electric vehicle markets at the fastest growing in the world. Genesis, which was launched as a stand-alone luxury division of Hyundai in 2015 to compete with high-end brands such as BMW, Mercedes and Lexus, has announced that it will sell both conventional and electric models in the region.
“The electrified G80 will be the first fully electric Genesis to arrive in Europe. Two more battery-powered electric cars will follow, giving European customers a choice of three zero-emission Genesis cars in the first year,” Genesis Motor Europe said in a statement. declaration.
The unit said orders would open for the Genesis G80 sedan and the Genesis GV80 SUV in June, with the new G70 sedan and GV70 SUV soon after.
“While Genesis cars are now at a level just below Lexus cars in the US market, it would take some time for them to stand out in Europe as a luxury brand, given the competition among the big guys. European brands, ”said Lee Seung-hwan, an analyst at Daishin Securities.
Lee said, however, that the Genesis brand could grow in the European market because it could offer more competitive electric vehicles than other European automakers.
Sales of electric and plug-in hybrid cars in the European Union nearly tripled to over 1 million vehicles last year, accounting for over 10% of total sales, according to data from the European Association of Automobile Manufacturers (ACEA).
As automakers have started rolling out new electric vehicles to meet environmental regulations, Volkswagen AG, Europe’s largest automaker, has unveiled its ID.3 and ID.4 models, while premium brands such as BMW, Mercedes and Audi have launched high-end versions.
In the first quarter, Genesis car sales jumped 165% in South Korea and more than doubled from a year earlier in the United States, according to Hyundai sales data. The brand was launched last month in China.
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