April 25, 2024

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[THE INVESTOR] Hyundai Motor, the nation’s largest carmaker, on July 31 said it has set up its own business division for the luxury Genesis marque aimed at accelerating the brand’s footprint globally, ahead of its G70 sports car debut in September. 

The newly formed division consists of four departments that include consumer, product, brand strategy and marketing, as well as seven teams, including the overseas sales team. 

Genesis global brand chief Manfred Fitzgerald will continue to head the luxury marque. 

Manfred Fitzgerald

“We decided to establish a new division for the Genesis brand to better respond to the global luxury car market trends and consumer expectations,” the carmaker said in a statement, adding it is planning to expand and strengthen the division further in the future. 

Hyundai is counting on the standalone Genesis brand to revive its slumping sales at home and abroad. 

G70, the third and smallest model in the Genesis lineup, will be unveiled in September, according to the carmaker. Set to compete against the Mercedes-Benz C-Class and BMW 3 Series, the model is tasked with building the brand image of Genesis as high-end cars. 

Genesis became a standalone brand after leaving the Hyundai umbrella in 2016. Since then, two Genesis models -- the full-sized G90 and midsized G80 sedans were released in the market. The automaker plans to complete the six-model lineup by 2020 by adding two SUVs and a sports coupe, as well as eco-friendly offerings.

By Ahn Sung-mi (sahn@heraldcorp.com)