Hyundai to locally assemble Genesis cars in India

Unsoo Kim stated that local assembly would be favoured as imports would make it unviable.

Hyundai is gearing up to introduce its luxury brand Genesis in India. The carmaker hopes to take on the likes of Mercedes-Benz and BMW, but in order to offer its products at competitive prices, it is looking to assemble Genesis cars locally.

According to Unsoo Kim, MD & CEO of Hyundai India, the company has been studying the Genesis brand for India for a while. He added that local assembly would be favoured as imports would make it unviable.

Kim also stated that Genesis has a unique style when compared to the traditional luxury makers that sell in India, and thus is likely to attract good interest. "Genesis is a relatively new luxury brand and offers a different type of luxury. The company plans to develop that concept in the country with design and electrification", Kim added.

Hyundai’s plans to introduce the Genesis brand in India had got delayed due to post-Covid market uncertainties, among other factors. Now though, sales of luxury products are on the rise and the market for luxury cars in India is set to reach record levels in 2023.

Source: ET Auto