Genesis Eyeing To Rival German Brands In India’s Luxury Car Segment
The Korean premium brand’s aggressive expansion continues to move forward.
Genesis as a car brand is young. Hyundai’s luxury arm is just nearing its sixth year, but it has undeniably expanded in terms of its lineup and the places where it’s currently being offered. India is apparently next in line to the markets the Korean premium carmaker wants to touch, as reported by Gaawdi Waadi.
According to the Indian automotive website, Hyundai India Managing Director and CEO Seon Seob Kim stated that feasibility studies for bringing in Genesis in the Asian country have already begun. Launch, however, isn’t concrete just yet.
Given the popularity of Hyundai in India (it’s at the second spot as of August 2021), offering its luxury cars to the Indian market isn’t a far-fetched idea. Currently, BMW and Mercedes-Benz are at each other’s throats in terms of Indian luxury car segment domination; bringing over a new competitor that’s generally more affordable than the German counterparts would certainly disrupt the market.
At this point, Hyundai is reportedly formulating plans on how to introduce Genesis into the Indian market. But just like the rest of the world, SUVs and crossovers are popular in the market, and Genesis certainly has the goods to offer from its range, including the newly introduced GV60 EV.
In its first six years, Genesis has already expanded in various markets outside of South Korea, including North America, Russia, Australia, China, Europe, the Middle East, and Australia. We’re expecting more to come for the luxury automaker given its aggressive strategy.
Speaking of strategy, Genesis has recently revealed its plan, with all new models after 2025 being electric. Given the electric vehicle push in India – which isn’t as aggressive as other markets, mind you – we could also see a roll-out of EVs in the country. But of course, that will highly depend on the market’s reception.