Genesis, Hyundai’s newly-formed luxury brand, will not launch in Europe until 2020, according to a new report from Automotive News Europe. Speaking at the Automotive News Europe Congress on Wednesday, Thomas Schmid, Hyundai Europe’s chief operation officer said that launching a premium brand is a challenge in Europe, and an even bigger one if the right produces for a specific market isn’t there. Schmid continued by stating that Genesis won’t be in Europe until after 2019 because they need different powertrain options.
Initially, Genesis will be sold North America, China, the Middle East, and South Korea, which is quickly becoming an important market for premium automakers but is currently dominated by European brands like Mercedes-Benz and Audi. In addition to varied powertrain options, Schmid told Automotive News Europe that Genesis also needs its SUVs to be successful in Europe and will wait until the fledgling automaker’s lineup has expanded past the initial two cars.
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