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Genesis is in it for the long haul in Europe with appearance at Le Mans

Published: 15 Jun. 2025, 15:59 Updated: 15 Jun. 2025, 17:20

The Electrified GV70, Genesis’ all-electric SUV model [HYUNDAI MOTOR GROUP]

Genesis, the luxury marque of Korea’s Hyundai Motor Group, is accelerating its push into the competitive European market with an electric-first strategy and a splashy appearance at one of motorsport’s most prestigious races.

At a press conference held during the 24 Hours of Le Mans endurance race in France on Friday, Genesis announced it will launch electric versions of its GV60 compact SUV, GV70 midsize SUV and G80 midsize sedan in France, Spain, Italy and the Netherlands early next year. The move marks a significant expansion of Genesis’s European presence — from three countries to seven since its 2021 debut in Germany, Britain and Switzerland.

The brand is shifting focus entirely to electric vehicles in Europe, phasing out combustion engine models in favor of battery-powered ones, in line with the European Union’s planned 2035 ban on the sale of new gas-powered vehicles.

Xavier Martinet, head of Genesis Motor Europe, said Europe’s strict carbon regulations make it extremely difficult to sell 100 percent internal combustion engine cars, adding that the larger the vehicle, the higher the emissions, which is why the company prioritizes electrification.

Members of the Genesis Magma Racing team pose in front of the GMR-001 hypercar at the Genesis booth during the 24 Hours of Le Mans endurance race in France on June 13. [HYUNDAI MOTOR GROUP]

Despite its ambitions, Genesis faces an uphill battle in a region dominated by entrenched high-end giants like Mercedes-Benz, BMW and Audi, as well as ultra-luxury and performance marques like Bentley and Ferrari. Last year, Genesis sold just 2,660 units in Europe — representing a mere 1.2 percent of its global total of 229,532.

Still, Genesis is wagering that its strong price-to-performance value proposition could sway European consumers. For example, the GV70 Electrified is priced at about 80 million won ($58,500), potentially undercutting rivals like Mercedes’s EQE, which retails at 93,000 euros ($104,000) in France — nearly double.

Martinet said European customers will be able to access superior performance at a more competitive price.

Genesis is also turning to motorsports to boost its brand visibility on the continent. In December, it established its own racing division, Genesis Magma Racing, and made its Le Mans debut at this year's event held on Saturday. Le Mans, considered the pinnacle of endurance racing, has a devoted European following and presents a rare platform for emerging brands to showcase performance credentials.

Cyril Abiteboul, head of Hyundai Motorsport and director of Genesis Magma Racing, Luke Donkerwolke, chief design and creative officer at Hyundai Motor Group, and Jacky Ickx, Genesis brand partner and Magma racing adviser, speak to reporters at the 24 Hours of Le Mans in France on June 13. [HYUNDAI MOTOR GROUP]

At the Genesis booth in Le Mans, the company also unveiled its striking GMR-001 hypercar, developed by the Magma Racing team, further signaling its performance ambitions.

Lee Ho-geun, an automotive engineering professor at Daeduk University, said Genesis’s timing could position it well for the continent’s EV transformation.

“The expansion is a long-term play to build brand equity ahead of the electric shift over the next decade,” he said. “It also benefits Korea’s domestic manufacturing sector, since Genesis models for Europe are produced in Ulsan.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY OH SAM-GWON [[email protected]]