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Hyundai keen on launching Genesis in China, Europe

PUBLISHED : September 15, 2017 - 16:45

UPDATED : September 15, 2017 - 17:28

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[THE INVESTOR] Hyundai Motor, the nation’s largest carmaker, is planning to roll out its luxury Genesis marque in China and Europe, according to the brand chief on Sept. 15.

“We are still assessing the situation (in China). As per our plans we will definitely go to China,” Manfred Fitzgerald, head of Genesis Division, told The Investor at the launching event of the brand’s latest G70 midsized sedan held at the carmaker’s Namyang R&D Center in Hwaseong, Gyeonggi Province. “I cannot tell you the exact date, but it will be in the next couple of years.”


Manfred Fitzgerald



Related Article:
Hyundai sets Genesis G70 sales target of 60,000 units next year



Hyundai has been stressing China, the world’s largest auto market, as the next major entry for its newly minted luxury brand.

But the Chinese market has been especially tough on Hyundai Motor Group. Sales of Hyundai in the second quarter slumped 64 percent to 105,000 units, hit by heightened consumer backlash over Korea’s decision to deploy the US-led THAAD missile system.

Fitzgerald added the carmaker is planning to enter the European market as well, the home of major luxury carmakers, but did not disclose the exact time frame.

“When we go to other markets, such as China and Europe, we will go with the full lineup, with our entire product portfolio,” he said.

Genesis, became a standalone brand after leaving the Hyundai umbrella in 2015, following the suit of other Japanese carmakers such as Toyota’s Lexus and Nissan’s Infiniti. Genesis cars currently sell in Korea, the US, Middle East, Russia and Canada. 

Set to rival BMW 3-Series and Mercedes-Benz C-Class, the G70 shares the same rear-wheel platform with Hyundai affiliate Kia’s Stinger sports sedan, which made a debut earlier in March.

The car will go on sale beginning Sept. 20 in Korea. It plans to launch the car in the US around March next year.

The new sedan comes in a 3.3-liter gasoline turbo engine, dubbed “G70 Sports” and a 2.0-liter gasoline turbo engine, as well as a 2.2-liter diesel engine -- the first diesel offering for the Genesis lineup.

The price of the standard 2.0-liter gasoline model ranges from 37.5 million won (US$33,118) to 40.5 million won, while diesel 2.2-liter is priced at 40.8 million won to 43.7 million won. The top-of-the-line 3.3-liter turbo is set from 44.9 million won to 52.3 million won.

G70 is the third and smallest model in the Genesis lineup made of G80 and bigger G90. Fitzgerald hinted the next Genesis model will be an SUV, based on the concept car that was unveiled at the Geneva Motor Show earlier this year. Genesis plans to expand the car lineup to six models by 2021.

By Ahn Sung-mi (sahn@heraldcorp.com)

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