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Genesis is jumping into the premium multi-purpose vehicle (MPV) market with plans to launch its first ultra-luxury minivan.
Genesis develops first ultra-luxury minivan for China
After celebrating its tenth anniversary last year, Genesis said the next 10 years will be even bigger with new full-size electric SUVs, performance vehicles, off-roaders, and more on the way.
According to recent local media reports, those plans include a new “ultra-luxury” minivan. Korea’s Maeil Business Newspaper reported that Genesis is preparing to introduce its first premium minivan in China as it looks for its next “breakthrough” vehicle.
Since entering China in 2021, Genesis has failed to gain the traction that it has in the US and other global markets.
Genesis will work with domestic partners to produce the minivan in China by 2029. It’s expected to produce about 18,000 units annually, all of which will be sold exclusively in China. That’s a considerable number, given that Genesis currently sells about 1,000 cars a year in China.
In a recent issue of the Auto & Design magazine (via Ahhoang_cdn), the publication uncovered design and styling concepts, calling it a “Jet on Wheels.”
The new vehicle is rumoured to be an extended range electric vehicle (EREV), which uses a smaller battery and a gas engine that acts as a generator to extend the driving range.
Genesis will build the minivan in China to avoid import costs and compete with luxury brands like BMW, Audi, and Volvo that already make and sell vehicles locally.
The ultra-luxury MPV will face stiff competition from models like the Volvo EM90, Mercedes V-Class, BYD Denza D9, and many others already on the market.
Will it be too little, too late for Genesis? China is already flooded with low-cost domestic EVs. Not to mention, a price war that continues to intensify. Genesis will need to go “over-the-top” to stand out and win over buyers in China.
Hyundai previously said its extended-range electric vehicles, including those under the Genesis brand, will include EV-specific driving features while delivering over 600 miles (960 km) of driving range.
Would you buy an ultra-luxury Genesis minivan over Mercedes-Benz, Volvo, or Lexus? Let us know your thoughts in the comments below.
Source: TheKoreanCarBlog, mediaAUTO
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