Hyundai plans to assemble luxury brand Genesis in India

New Delhi, Mar 27 (KNN) Automotive manufacturer Hyundai is considering to assemble its luxury brand Genesis in its factories in India.

After almost three decades of experience in the Indian market, the multinational company is expanding its luxury segment here, reported TOI.

The cars would be assembled at its India factories as the company looks to dodge the high import and other duties in order to drive in competitive pricing.

Comparing to the traditional luxury makers that sell in India, Hyundai India MD & CEO Unsoo Kim said that Genesis has a unique style and thus is likely to attract good interest.

“Genesis is a relatively new luxury brand and offers a different type of luxury. We will develop that concept in India with design and electrification,” Kim told TOI.

For years Hyundai has been toying with the idea of introducing the Genesis in India.

“But a final approval had got delayed due to a variety of reasons, including the market slowdown in India in 2019, and thereafter the Covid-led shutdowns and uncertainties,” said Kim.

However, with the Indian market picking up rapidly after the economy opened post-Covid shutdowns, the company is now giving a serious consideration to Genesis-related plans.  (KNN Bureau)