Hyundai's Genesis Brand Debuts Europe
Summer Debut for Genesis Brand in Europe
Electric and Hybrid Vehicles To Be Showcased
South Korea's Hyundai is debuting its luxury Genesis brand in Europe this summer. It will offer both electric and conventional vehicles but it is clearly pushing its electric and hybrid models into the European market. There is a strategic reason for it. Europe is one of the world's fastest growing electric vehicle markets. Sales of electric and plug in hybrid vehicles tripled in the European Union in 2020 to over 1 million vehicle sold, which amounted to more than 10% of total sales.
Genesis will premier in Europe, starting in June, its sedans and SUVs. The electrified G80 will be the first all electric Genesis to arrive in Europe. Within the next year, two more battery powered electric cars will be added to the Genesis mix in Europe providing customers with the choice of three zero emissions Genesis vehicles. Automotive analysts think that Genesis has a good change of strong sales in Europe because it can offer more cost competitive electric vehicles than some European car makers. In Q1 2021, Genesis sales in South Korea grew 165% and more than doubled from a year earlier in the US.