Genesis has begun a full-scale expansion into the European market, leading with electric vehicles.
Genesis's key executives announced on the 13th (local time) at the '24 Hours of Le Mans' event in Le Mans, France, that they will enter the luxury automobile markets in France, Spain, Italy, and the Netherlands.
With this expansion, Genesis will have established its brand in a total of seven European countries, including the five major automobile markets in Europe (Germany, the United Kingdom, France, Italy, and Spain), since its initial entry into Germany, the United Kingdom, and Switzerland in 2021.
Genesis will begin sales primarily based on its electric vehicle lineup, including the GV60, GV70 electrified models, and the G80 electrified model, with plans to deliver to customers by early 2026. The specifics of the sales methods by country will be announced later.
Xavier Martinet, head of Hyundai Motor Company’s European regional headquarters and president of Genesis Europe, said, "The entry into four European countries is a critical turning point for Genesis to solidify its position in the European market," adding, "We will introduce the brand to more customers based on differentiated design and a customer-centric philosophy."
Recently, the demand for luxury electrified models in the European market has been gradually increasing. As of last year, the luxury car market size in the four countries of France, Spain, Italy, and the Netherlands was 930,000 units, of which electric vehicles accounted for 210,000 units.
In particular, Genesis plans to validate its technological prowess in motorsport through its debut at the 24 Hours of Le Mans and to promote its unique design, high performance, and the presence of its young luxury brand.
The 24 Hours of Le Mans is a endurance race that is regarded as one of the top three motorsport events in the world. Endurance races require comprehensive vehicle performance, durability, driver capability, and team management strategies over long durations or distances without rest.
At the end of last year, Genesis officially announced its entry into motorsport with the racing team 'Genesis Magma Racing' (GMR). The team aims to compete in the hypercar class of the World Endurance Championship (WEC) next year.
Luc Donckerwolke, chief creative officer (CCO) of Hyundai Motor Company and Kia and head of global design, noted, "It's historic for Genesis, a brand that has just turned 10, to enter Le Mans," adding, "We are achieving everything at 'hyper speed,' creating unprecedented performance and design in a short timeframe."