Hyundai plans to debut Genesis in India. But first to ...

Copyright © HT Digital Streams Limit all rights reserved. Hyundai wants to debut Genesis in India, but only after the clarity on Rates Ayaan Kartik 4 min Read May 22, 2025, 05:35 am Ist Hyundai Motor Co. Consider launching the GV80 Luxury Sport Utility Vehicle and the G80 full-sized sedan as its Indian subsidiary Ltd. summary of Mahindra and Mahindra Ltd and Tata Motors Ltd. Awaiting the clarity on rates to decide whether to enter fully built units or in the completely knocked units, units and they will gather here, the Hyundai car Co. of South Korea, who wants to debut its luxury brand Genesis in India next year or the following year, but awaits a clear performance of the full cars in the world, and two people who are aware of the plans. The company is considering launching the GV80 Luxury Sport Utility Vehicle (SUV) and the G80 full-sized sedan as its Indian subsidiary struggles to competition Mahindra and Mahindra Ltd. to prevent the people on the state of anonymity. “Whether your units that need to be fully built or fully knocked down (CKDS) units and gather here will be decided as soon as there is clarity on rates,” one of the above people said. Currently, fully built units (CBUs) have attracted an effective rate of 110% in the country, while CKDs – shelves divided into individual parts and then submitted in India – an effective duty of 16.5%. Also read: Why this driverless car star is changing to become a software designer in July last year, India began reviewing the comprehensive Economic Partnership Agreement of 2010 with South Korea. As the country is also negotiating transactions with other trading partners, including the US and the European Union, levies are expected to fall on CBUs. Even Elon Musk-led Tesla Inc. India Fraye depends on reducing rates on imported cars. The entry of Genesis, together with the plans to launch 26 new models by 2030, can strengthen the portfolio of India’s second largest car manufacturer, which lowered sales by 3% to 598,666 units in fiscal 2025. In April, Hyundai Motor India Ltd. to the fourth position dropped by sales as Mahindra and Tata cars ahead. A SUV-dominated line-up helped Mahindra limit the gap. Of a 5.35% share against Hyundai’s 17.36% in FY21, Mahindra now recommends 12.34% compared to 13.47% for the Korean giant’s Indian unit. Also read: Hero-supported Euler Motors Eyes-profitability by 2029 after the aggressive expansion Hyundai India refused to comment on the subject. CEO of the CEO to launch Genesis accelerates after José Muñoz, who took over as the global president and CEO of Hyundai in January, visited India in March, the people cited earlier said. Muñoz, who joined the company in 2019 after a 15-year-old lead on Nissan Motor Corp., is credited with the success of the Genesis brand in the US, as sales rose from 10,312 units to more than 75,000 cars in 2024. The entry of Genesis in the country has been speculated for some time now. It was believed that the brand would enter the market in 2020, but then the Covid-19 pandemic hit. Some reports have suggested that the luxury brand could be launched by late 2025, but it was placed on the breaker last year before the initial public offer (IPO) in October. But with Hyundai witnessing a slowdown in India, global management is again eager to launch the luxury brand to take advantage of the growing premium trend in the Indian market. “The luxury market has been identified as a key segment for growth and Hyundai wants to tap it,” said the second person quoted earlier. Luxury dreams of luxury car sales in India rose to 51,000 units by 3.31% in the financial year 2025, but it was still a record high. The market is led by Mercedes-Benz, followed by BMW and Jaguar Land Rover. Genesis was blocked as part of the South Korean giant’s bid in 2015 as part of the South Korean giant, among others, BMW, Mercedes-Benz and Lexus. It is present in various markets, including Korea, the US, Canada, the Middle East, Australia, Europe and China. It sold 229,532 units worldwide in 2024. Genesis’s entry into India would come as Hyundai plans an aggressive expansion in the country with 26 new launches by 2030. It includes 20 inside -burning car or ICE models and six electric vehicles. Hyundai also plans to introduce a hybrid electric vehicle model. Also read: Maruti, Hero gets a boost for export earnings, as the domestic market remains shaky “We believe that Hyundai car India is still well placed to take advantage of the premiumization trend in India, given the mix in favor of SUVs,” analysts at Motilal Oswal Financial Services Ltd. Hyundai’s shares have increased by 6.15% so far this year, while Nifty Auto is 2.42% higher than all business news, market news, news events and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More Topics #Cars #Hyundai Motor India #Hyundai Motor #Mahindra #Tata Read Next Story