Hyundai is mulling launch of Genesis premium luxury car brand in India; G70 sports sedan could be a possible model
Hyundai is mulling the launch of its premium luxury car brand Genesis in India. The South Korean auto major has unveiled the Genesis G70 sports sedan last month that has garnered pretty much attention from the enthusiasts around the world. If Genesis brand is introduced here, the G70 entry level model could arrive as well.
Hyundai has been one of the few foreign car brands in the country to post a consistent growth for quite long time. The Korean auto major has been showing interest in launching premium global standard products in the domestic market for last couple of years and evaluating the entry of Genesis brand in India is a part of that strategy. Considering the fact that Indian customers are showing interest towards premium cars, the Genesis models could become successful here.
Also read: Hyundai Genesis To Launch Three Luxury SUVs By 2021
The Genesis G70 sports sedan is based on the genesis New York concept and it shares several components with Kia Stinger. Priced from $33,467 (Rs. 21,43,059) in the South Korean market, G70 sports sedan competes with rivals from established global luxury car giants like Mercedes Benz, BMW, Audi, and Jaguar.
Meanwhile, not only the premium car brand, Hyundai is also in process to introduce the Kia brand here. Kia is building its production plant in the country that will come with an annual production capacity of 3 lakh units. The brand is expected to showcase some India-bound models at the upcoming 2018 New Delhi Auto Expo.
Also read: Hyundai Commercial Vehicles Could Be Launched In India
Apart from that, Hyundai is also planning to launch its commercial vehicle and financing business in India. As we reported earlier, Hyundai is aiming to introduce its premium bus range in the country considering that India is one of the biggest commercial vehicle markets in the world. It is also looking for a partner in the northern India for its CV business in the country. Currently, the second biggest automaker in India, Hyundai is expected to invest around Rs. 26,000 crore here over next five years. This investment includes developing and launching new products, introducing new business.
Genesis G70 Gallery
Source: ET