Hyundai Motor Co. said on Thursday it aims to triple the global sale of the Genesis G90 over the next couple of years by launching the flagship luxury sedan in the US, China and the Middle Eastern countries.
To achieve the goal, the top South Korean automaker said it targets to sell at least 20,000 units of the redesigned luxury car every year.
“Our Genesis already joined the global top 10 luxury brands with its sales of over 200,000 units last year,” Hyundai Motor Chief Executive Chang Jae-hoon said at a media event.
He said the company aims to sell as many as 220,000 Genesis cars – Hyundai’s standalone luxury brand – globally this year.
The CEO said the demand for premium cars will largely stagnate in the vicinity of 230,000 units globally, and Hyundai expects the G90 to account for 8.6% of the luxury car market, a threefold increase from 2021.
In mid-December, Hyundai launched the all-new G90, its first model change in three years, following a partial facelift in 2018.
The new G90 will be available in a choice of sedan or long-wheelbase models, with the latter featuring an extended wheelbase of 190 mm giving more space for rear seats, ideal for VIP passengers.
Hyundai Motor's redesigned Genesis G90 Equipped with a gasoline 3.5-liter turbo engine and an eight-speed automatic transmission, the new sedan features a maximum output of 380 horsepower and combined fuel efficiency of 9.3 kilometers a liter.
The redesigned G90 sedan went on sale in the domestic market Thursday, with its overseas launches, including the US, Europe and China, are scheduled for later this year.
“As a luxury car, our G90 is more competitive than Honda’s Acura and Nissan’s Infiniti,” Chang said.
The automaker plans to start a pilot service of a Level 4 self-driving car, which can drive itself under limited conditions, just shy of fully autonomous Level 5, in the first half, with an aim to commercialize Level 4 vehicles in 2027.
Hyundai said it also aims to lead the age of electrification by focusing on dual electrification involving fuel cell and battery EVs, starting with the G80 and GV60 electric models.
Interior of Hyundai Motor's redesigned Genesis G90 The chief executive said the G90 will also go electric, but provided no specific timeline.
The G90, he said, will sit on a new electric vehicle platform, different from Hyundai’s current proprietary Electric-Global Modular Platform (E-GMP). The company is developing a new platform, he said without elaborating.
“Our electrification strategy for Genesis is not just limited to electric cars, but also includes hydrogen fuel-cell cars,” he said.
Write to Hyung-Kyu Kim at khk@hankyung.com In-Soo Nam edited this article.
