A HUGE car logo has discontinued two of its luxury models as it enters an “era of electrification. “
The company “has no intention” of bringing back gasoline engines, but will still drop all-electric ones.
Hyundai is best known for producing rugged and reliable family cars at affordable prices.
But many say it also has a luxury branch in the shape of Genesis.
Originating from the control of Hyundai Genesis in 2004, the logo was introduced as an independent subsidiary in 2015 with the aim of its parent company’s platform competing in the premium market.
It has been quietly generating competition at moderate costs for BMW and Mercedes for nearly a decade in Asia, but didn’t reach Europe until 2021.
Just three years earlier, it included two of its flagship models, the G70 sedan and GV80 SUV, in Autocar.
Both have come under pressure from poor sales, with the company only selling around two hundred copies in the UK last year.
That, combined with the fact that the logo is entering an “era of electrification,” sounded the death knell for either gasoline engine.
However, Genesis has also jumped into the world of electric vehicles, skillfully reneging on its promise to produce new electric models only from next year.
Instead, the company promised to expand its diversity of hybrid technologies, adding possible battery-powered versions of discontinued models.
The new cars will be sold to Hyundai’s UK dealer network as part of a “business optimization and synergy creation” deal reached last year.
The models will be presented at 14 sites across the United Kingdom, as opposed to Genesis’ three standalone showrooms.
A Genesis spokesperson said: “Genesis remains committed to continuing our plans and being a leader in the era of electrification, but we remain flexible to market situations and customer demand.
“We plan to launch hybrid models as we continue our journey towards full electrification.
“More highlights related to Genesis’ upcoming hybrid powertrains will be announced at a later date. “
This comes after a rival logo: a sports truck that can match the Porsche 911 GTS in terms of speed.
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