A HUGE car brand has scrapped two of its luxury models as it moves into an 'era of electrification'. The firm has 'no plans' to bring back the petrol motors but won't go fully electric yet either. Hyundai is best known for producing sturdy, reliable family cars for affordable prices.
But many forget that it also owns a luxury arm in the form of Genesis. Stemming from the executive Hyundai Genesis in 2004, the brand was launched as a standalone subsidiary in 2015 with the aim of using its parent company's platform to compete in the premium market. It has quietly been producing reasonably priced rivals to BMW and Mercedes for close to a decade across Asia, but it only came to Europe in 2021.
Just three years one, it has binned two of its flagship models, the G70 saloon and GV80 SUV, according to Autocar . Both have been under pressure from poor sales, with the company only selling around 200 of each in the UK last year. That combined with the fact that the brand is entering an "era of electrification " spelled the end for the two petrol-powered motors.
However, Genesis has not jumped into the EV world with two feet either, notably U-turning on its promise to only produce new electric models from next year. Instead, the firm has promised to develop its range of hybrid technology, including potential battery-aided versions of the discontinued models. The new cars will be sold through Hyundai's UK dealership network under a "business optimisation and synergy creation" agreement st.