Hyundai has announced it is launching a brand now global luxury brand, dubbed Genesis.
The rebranding will see its current Genesis lineup break off and form its own, autonomous entity. Hyundai says its new Genesis brand will compete with the world's leading luxury car brands.
“We have created this new Genesis brand with a complete focus on our customers who want smart ownership experiences that save time and effort, with practical innovations that enhance satisfaction. The Genesis brand will fulfill these expectations, becoming a market leader through our human-centered brand strategy,” said Euisun Chung, Hyundai Motor Company Vice Chairman.
— Edmunds.com (@edmunds) November 6, 2015
According to Reuters, the move comes after a particularly disappointing earnings dip. With Genesis, Hyundai is looking to maximize profit margins by appealing to customers with deeper pockets.
Hyundai is promising six new models from Genesis by 2020, starting in December. The company says Genesis cars will be focused on "refined performance, athletic elegance in design and human-focused innovation."
“The Genesis models will provide technological innovation, excellent driving performance and luxury to customers. Every Genesis model will be created with the needs of our customers in mind, so the resulting car will perfectly meet their needs without any unnecessary burden or excess," said Woong Chul Yang, Head of Hyundai Motor R&D Center and Vice Chairman of Hyundai Motor.
Genesis will strike out on its own with a new emblem, which you can see below.