Hyundai to launch three Genesis EVs in Europe in 2021 including G80 and GV80
South Korean automobile major Hyundai Motor Co on Tuesday has announced that it will introduce its premium car brand Genesis in Europe this summer. The Genesis models set to launch in the European market include its flagship sedan G80 and SUV GV80. Also, the automaker plans to introduce electric cars alongside the conventional models, considering that Europe is the fastest-growing EV market in the world.
Genesis was launched back in 2015 as Hyundai's standalone luxury car division in an attempt to compete with premium car brands like BMW, Mercedes-Benz, Audi, Jaguar, and Lexus.
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As Genesis has announced in the statement, the electrified G80 will be the first all-electric Genesis car to be launched in Europe. There will be other two battery electric cars in the market, providing European customers a choice of three Genesis electric cars within the first year. Orders for the Genesis G80 sedan and the Genesis GV80 SUV will open in June, while the new G70 sedan and GV70 SUV too will be available for order soon after.
According to Lee Seung-hwan, an analyst at Daishin Securities, who told Reuters that the Genesis cars are now at a level right below Lexus cars in the US market, and it would take some time for them to stand out in Europe as a luxury brand, considering the competition from prominent European brands. He also said that Genesis has room to grow in the European market as they could offer more cost-competitive electric vehicles than the European carmakers.
In 2020, electric vehicle and plug-hybrid vehicle sales in the European Union reached more than one million, accounting for over 10% of overall sales, as revealed by the European Automobile Manufacturers Association (ACEA).
Several automakers present in Europe are rolling out their respective electric vehicles, while the governments too are setting the deadline for the Ev adoption. Apart from that, the governments are promoting e-mobility by offering a host of benefits for the customers and the OEMs as well. Altogether, these are helping electric mobility to grow at a fast pace in the continent. Genesis' arrival in the European market will push the drive further for sure.