Genesis brand (hereafter Genesis) is set to aggressively expand into the European market with a focus on electrified models.
Genesis announced that it will enter the luxury automotive markets in France, Spain, Italy, and the Netherlands during the event attended by Hyundai Motor Group Chief Design Officer and Chief Creative Officer Luc Donckerwolke, as well as Hyundai Motor's Europe Regional Head and Genesis Europe's CEO Xavier Martinet on the 13th (local time) in Le Mans, France.
This announcement for European market expansion held before participating in the 24 Hours of Le Mans, one of the world's three major motorsport events, adds meaning to Genesis's new challenge in Europe.
Since its first entry into Germany, the UK, and Switzerland in 2021, Genesis has expanded to a total of seven countries in Europe, opening a new chapter in the European market.
With this market expansion, Genesis plans to establish its brand presence more firmly as a luxury brand in all five major automotive markets in Europe (Germany, the UK, France, Italy, Spain).
Genesis will start sales focusing on its electric vehicle lineup, including the GV60, GV70 electrified models, and G80 electrified model, with deliveries expected to begin in early 2026. Specific sales methods for each country will be disclosed later.
The European automotive market, including the four countries Genesis is entering this time, will see a complete ban on the sale of internal combustion engine vehicles beginning in 2035.
Consequently, there is a rapidly increasing demand for eco-friendly vehicles in the European automotive market, particularly as the proportion of electric vehicles in the luxury car market is expected to approach half by 2027. As of 2024, the luxury car market in France, Spain, Italy, and the Netherlands is projected to reach 930,000 units, of which electric vehicles (BEVs) will account for 210,000 units.
In particular, France is regarded as a hub of the luxury electric vehicle market in Europe, with a well-developed luxury consumption culture and electric vehicles accounting for 27% of the luxury car market.
Since entering Europe, Genesis has focused on building its recognition as a luxury brand.
The European luxury automotive market has a solid foundation with traditional strong players like Mercedes-Benz, BMW, and Audi, making it challenging for non-European luxury brands to enter. Through its participation in the 24 Hours of Le Mans, Genesis plans to validate the brand's technological prowess in popular motorsport in Europe and widely communicate Genesis's unique design, high performance, and the presence of a young luxury brand in the European market.
Genesis previously announced its entry into motorsport along with the establishment of the Genesis Magma Racing Team at the end of last year and appointed legendary racer Jacky Ickx as the Genesis Magma Racing (GMR) Racing Advisor.
Genesis aims to participate in the 24 Hours of Le Mans after winning the European Le Mans Series (ELMS) this year and plans to enter the Hypercar class of the World Endurance Championship (WEC) next year.
Xavier Martinet, Hyundai Motor's Europe Regional Head and Genesis Europe's CEO, noted, "This entry into four European countries is a critical turning point for Genesis to further solidify its presence in the European market," and added, "As demand for luxury electrified models is gradually increasing in the European market, I am pleased that we can introduce our brand to more customers based on Genesis's differentiated design and customer-centered philosophy."
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