Korean automaker Genesis has announced ambitious plans to expand its presence in the European market. The key points of the strategy are:
Ambitious Goals for Europe
Genesis, which is celebrating only its tenth anniversary, plans to become a serious player among Europe’s premium brands. Despite being a relatively young brand, it has already sold nearly 1.5 million vehicles. The current annual sales volume is about 225 thousand units, but the management of Hyundai, which owns Genesis, aims to increase this figure to 350 thousand by 2035. Europe is to become a key market for achieving this goal.
Genesis Chief Creative Officer Luc Donckerwolke noted that the brand is only just beginning its journey in Europe. Initially, it was planned that from 2025 Genesis would become a fully electric brand, but the plans had to be adjusted due to Euro 7 regulations and a limited model portfolio. However, the company promises to introduce new products to the market and enter new national markets.
Magma — A New Approach to Performance and Luxury
The Magma sub-brand, officially introduced last year, is not a conventional high-performance division like BMW M or Mercedes-AMG. According to Genesis management, it is a different approach.
“We are a young brand, and we have to attract customers. If you are in an environment where people can choose between different brands, you must have all facets of the brand. You must be luxurious, you must be sporty, you must be cool,” explained Luc Donckerwolke.
According to him, Magma is not a separate sub-brand, but the pinnacle of each Genesis model line, combining high performance and luxurious finish. The first example was the electric GV60 Magma crossover with two electric motors producing 650 hp, which accelerates from 0 to 100 km/h in 3.4 seconds.
Hyundai’s head, José Muñoz, confirmed that Magma versions will appear for every Genesis model, regardless of the type of powertrain — electric or internal combustion engine. This lineup will play a central role in promoting the brand in Europe.
Future News from Magma
The company also confirmed that the impressive Magma GT concept car will receive a production incarnation. The production model will have a mid-engine layout and will be released in various versions, including a convertible and a special track version. Although the powertrain is not yet confirmed, the concept was equipped with a gasoline V8, and there is hope that the production car will retain this engine.
Thus, Genesis is preparing a large-scale offensive on the European premium market, betting not only on quantitative growth but also on a qualitatively new product that combines dynamics, technology, and an unsurpassed level of comfort. The success of this strategy will largely depend on how ready European buyers are to accept a new player from Asia, which is claiming a share of the market from traditional German leaders. Plans for 650% growth sound extremely ambitious, indicating the brand’s great confidence in its capabilities and products.