Hyundai Motor's Genesis to Become Standalone Premium Brand
- Hyundai plans to have premium line-up of six models by 2020
- Four models to be newly developed, including large SUV
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Hyundai Motor Co. will spin off its luxury Genesis sedan into a separate standalone premium brand as South Korea’s largest automaker seeks to move upscale and compete against the likes of Toyota Motor Corp.’s Lexus.
The carmaker plans to have a line-up of six models, including four new ones, under the Genesis brand by 2020, the company said Wednesday. The four new models will include a mid-size sedan, a large sport utility vehicle, a mid-size SUV, a sports coupe, and the brand will initially use existing sales channels to increase efficiency, it said.