India is the market that the world craves to launch its products. With a population of over more than a billion people, it is a huge playground with enough room for growth for all players. This is the only reason while talks of global brands like Tesla coming to India, other companies are also preparing to launch their own new product in the country. With this in mind, the South Korean auto giant Hyundai is planning to launch its luxury brand in India.
Genesis on Indian Roads soon?
The luxury brand Genesis is likely preparing to enter the Indian roadways and put their products in the market including electric offerings. The company will compete with the German trio of Mercedes-Benz, BMW, and Audi alongside Jaguar-Land Rover and Lexus.
Just like Tesla, Genesis might debut via a fully built import route. Although the company might consider assembling the cars in India itself to evade huge import duties.
The luxury brand Genesis which was launched in 2015, is also available in the US, apart from the home country South Korea.
Recently, Genesis entered the high volume market of China and the European market. As the most possible next stop for the country, India could very possibly be on their radar.
Hyundai is testing the waters
Hyundai India MD and CEO S S Kim, confirmed that the feasibility studies have already begun. He added that it’s still too early to talk about definitive plans and launch dates.
While the Hyundai India CEO is aware that the luxury car market in India is dominated by German makers, Hyundai is understanding the reasons for their strong holding and assessing how new brands can make their debut.
“Despite coming from a mainstream car brand Hyundai, Genesis has been able to create a strong holding niche in luxury cars markets such as the US and South Korea,” he further added.
For both Hyundai and Genesis Philosophy and core values are different. Hyundai is not the first carmaker with a separate luxury extension. Toyota manufactures luxury cars under its Lexus leg and similarly Nissan with the tag of Infiniti.
So, if all goes well Indian Consumers might get a new option on their menu card.
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