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New Delhi: South Korean carmaker Hyundai Motor Company are now making a foray into India’s luxury market as they plan to launch their premium brand Genesis in the country in 2027. In their investor presentation, the company confirmed that the launch of Genesis models was close and that the models will be “made in India”, although initially the cars might be just assembled.
The move is part of the brand’s expansion motive globally, targeting to boost Hyundai’s margins and not remain at the USA alone. In the period of the last eight years, Genesis have managed to sell about one million cumulative sales globally and have delivered double-digit profit margins in two of the years.
At present, the company has six models that include G70, G80, and G90, which all have electric versions of these that are GV60, electric G80 and electric GV70 and remains mostly focused for US. Hyundai’s future strategy is to expand their global market presence and offerings that include performance-oriented luxury SUVs and alongside EV and range-extender offerings.
Back in September, Hyundai President and CEO Jose Muñoz noted that the Indian market was a strong market for growth and exports. He also noted that Genesis’s launch in the country would build on Hyundai’s strong name.
Having spent close to three decades in the country, Hyundai have a good knowledge of the shifting paradigm of the Indian auto market. Over time, the car industry is going away from hatchbacks and towards the SUV segment. In fact, Hyundai’s best-selling car, Creta, is an SUV.
Coming in the luxury market where the likes of Mercedes and BMW have beem dominating, Genesis are likely to start their life in the country with the SUV GV80, both the SUV and the coupe-SUV. It could follow with the GV70. With an EV market that is growing, the brand would like to capitalise on the same with the GV60 SUV, a compact EV SUV, and the electrified G80 and GV70 although, those may take a while before coming to the market.
The GV80 outside has been getting three engine options, which are available in four engine options: the 304 bhp making 2.5-litre turbo petrol engine, a 3.5-litre turbo engine that makes 380 bhp and a mild-hybrid 3.5-litre turbo petrol engine that makes 415 bhp. As standard, all models come with all-wheel drive, although it will be interesting to see which powertrain will be offered in India.
