Genesis Unveils ‘X gran Racer Concept’ SUV, GMR-001 Hypercar Design in New York
NEW YORK — Genesis, Hyundai’s luxury vehicle division, showcased its design prowess on April 15, unveiling the “X Gran Racer Concept” SUV and the GMR-001 hypercar design at Genesis House New York. The exclusive event drew over 200 global automotive industry leaders.
“It is a work on a track,” said Luke Donckerwolke, president of Hyundai Motor Group’s Global Design Headquarters, as he introduced the high-performance concept car set to debut in motorsports racing games next year.
The unveiling continues a remarkable trajectory for the Genesis brand, which in less than a decade has risen to prominence in the global luxury car market. Genesis’ success marks has been a watershed moment for Korean automotive manufacturing. Once perceived as a purveyor of budget-amiable vehicles, Korea is now a contender in the high-end automotive space.
“Isn’t it so good made by mistake?” the company said in a statement addressing the brand’s growing reputation.Genesis has established itself as a symbolic model that the Korean automotive industry in the periphery can compete in the world stage as well as quantitative.
Genesis: A Decade of Disruption
Hyundai first introduced the Genesis brand in in 2015, with an early strategy was to compete head-on with established luxury brands like Mercedes-Benz, Audi, BMW, and Lexus.
Hyundai Motor Vice Chairman said in 2015, “We will prove that Hyundai can make a world-class car.” The project represented a massive investment for Hyundai Motor Group,reportedly involving ₩500 billion and 4,000 researchers before the first Genesis vehicle rolled off the assembly line.
Genesis’ initial target was overseas markets, debuting in the U.S. in August 2016.The early lineup focused on the “G Series” sedans. The G70, three years later, earned accolades, scooping up prestigious awards such as North American Car of the Year, Motor Trend Car of the Year, and Car and Driver’s 10Best. This recognition helped solidify the perception that “Hyundai also makes luxury cars well.”
The introduction of the GV70 and GV80 SUVs in 2020 further fueled Genesis’s popularity, both in Korea and internationally. A GV80 was notably seen transporting Ivanka Trump’s family as they boarded a plane at the airport during President Donald Trump’s final days in office.
Global Expansion and Electrification
Genesis currently operates in more than 17 countries, including the United States, Korea, China, Europe, the Middle East, and australia.
As its debut G90 in 2015, Genesis has experienced exponential growth, surpassing 100,000 units sold in 2020, 200,000 in 2021, and 230,000 in 2022, solidifying its status as a major luxury car manufacturer.
Genesis has also committed to innovation. In September 2021, the brand unveiled the GV60, its first dedicated electric vehicle, signaling its intention to lead in the luxury electric vehicle market. The company has set a goal to achieve carbon neutrality by 2035, pioneering all-electric models and advancements in lasting technology.
Luxury Marketing and Brand Building
Genesis has bolstered its brand image thru strategic luxury marketing initiatives. The opening of Genesis House New York in Manhattan in November 2021 created a brand-immersive cultural space intended to strengthen its position in the luxury car market. The venue features a restaurant, library, performance hall, and terrace garden, becoming a popular destination for New Yorkers.
Genesis also became involved in professional sports by sponsoring the PGA Tour “Genesis Open” in the United States in 2017. In 2020, the Genesis Open was elevated to “Genesis Invitational”, an invitational tournament designated by the PGA.
What’s next for Genesis?
Industry analysts anticipate Genesis will continue its expansion in the U.S. market, focusing on electric vehicles and brand experiences.The company’s commitment to innovative design, sustainable tech, and luxury marketing positions it to challenge more established luxury automakers.
While Genesis has been triumphant in attracting new customers, it faces challenges in maintaining its brand identity as it expands its product lineup. Some automotive critics argue that Genesis needs to further differentiate itself from its parent company, Hyundai, to ensure its long-term success as a luxury brand.
