South Korea’s Hyundai Motor Co (005380.KS) said on Tuesday it will launch its premium brand Genesis in Europe this summer, debuting its flagship sedan and sports utility vehicle (SUV) in one of the world’s fastest growing electric vehicle markets.
Genesis, which launched as Hyundai’s standalone luxury division in 2015 to compete with premium brands like BMW (BMWG.DE), Mercedes and Lexus, said it will sell both conventional and electric models in the region.
“The Electrified G80 will be the first all-electric Genesis to arrive in Europe. A further two battery electric cars will follow, providing European customers with a choice of three Genesis zero-emission cars within the first year,” Genesis Motor Europe said in a statement.
The unit said orders will open for the Genesis G80 sedan and the Genesis GV80 SUV in June, with the new G70 sedan and GV70 SUV following soon after.
“While Genesis cars are now at a level right below Lexus cars in the U.S. market, it would take some...read more...