Jang Jae-hoon, President of Hyundai Motor Company, "Genesis New Chapter is High-Performance Luxury"

"Genesis' new chapter will be high-performance luxury. It must have a different character from traditional luxury high-performance brands like Mercedes AMG."

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On the 25th (local time), Jang Jae-hoon, President of Hyundai Motor Company, stated this at a press conference unveiling Genesis' new concept car held at Genesis House New York in Manhattan, USA. He said, "The high-performance segment is a field that luxury brands must challenge."

President Jang said, "First, Genesis' elegance has appealed greatly in terms of design and psychology, and we intend to express dynamism through high performance," adding, "However, the expression of high performance must be accompanied by an expression of emotion."

He mentioned that they are considering implementing high performance across all powertrains, including internal combustion engine (ICE), hybrid electric vehicle (HEV), and electric vehicle (EV). Although it is not yet confirmed whether the additional trim name will be 'Magma,' he described it as "an expansion of the luxury segment to a higher level."

Since its launch in November 2015, Genesis surpassed annual sales of 200,000 units in 2021, rising to become one of the top 10 global luxury car brands. This year, the export ratio has risen to 47%, and from next year, overseas sales are expected to exceed half of total sales.

President Jang said, "The specific direction of Magma must differ from long-established luxury high-performance brands like AMG," adding, "Rather than focusing on performance models running on tracks or zero-to-sixty times, it should provide customers with trust and comfort through fundamental emotions."

Jang Jae-hoon, President of Hyundai Motor Company, is holding a press conference with reporters at the Genesis House in New York, USA, on the 25th (local time). [Photo by Hyundai Motor Group]

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Genesis plans to increase the sales ratio of Magma to 10% after launching the GV60 Magma next year. However, the decision on whether to enter motorsports has not been made.

Additionally, Genesis unveiled the 'Neorun,' a large electric sports utility vehicle (SUV) concept model.

President Jang also shared his views on Genesis' electrification.

He said, "It is true that the global pace of electrification transition has slowed, but electrification is ultimately the path to follow," adding, "We are considering how to flexibly respond to market conditions in changing powertrains." He emphasized, "We must respond to the market in a direction that goes beyond simple HEVs."

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