Hyundai Motor Co. is all set to introduce its luxury brand Genesis to the Indian consumer after 2020. The car giant will first test the acceptance of its luxurious models in the premium segment, by the Indian drivers and owners by launching its popular Kona electric SUV in July this year.
For launching and promoting Genesis, Hyundai will establish a company owned experience center and small showrooms in prime locations across the country. Also, Hyundai has hinted on showcasing its premium cars in auto expo before
formally launching it.
For its first premium product- Kona Electric SUV launch, the car manufacturer had hired top-notch consultant Deloitte Haskins to analyze the market and develop the strategy to launch an electric vehicle at a premium price point. This association to check the viability of the devised strategy was hooked three years back.
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Launching premium products in India is expected to help the company attract a different segment of customers. Earlier only one other car makers in India, Mahindra and Mahindra Ltd has introduced electricity-driven vehicles in the affordable vehicle segment.
With the launch of Kona SUV, Hyundai will become the first foreign vehicle maker to launch an electric vehicle in the premium segment.
Hyundai’s affiliate Kia Motors Corp. is also scheduled to raise curtains from its first ever car in India this year.