Pursuits
Hyundai Considers Making Luxury Car in China to Lower Prices
- Genesis brand will be introduced at this month's Detroit show
- China production needed to overcome taxes on imported cars
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Hyundai Motor Co. is weighing plans to build its new luxury Genesis cars in China to overcome import tariffs that add 25 percent to the sticker price and are seen as inhibiting the company’s ability to compete with locally made BMWs and Audis.
South Korea’s biggest automaker still needs to reach an agreement with a local partner, said Cho Won Hong, Hyundai’s chief marketing officer. BAIC Group currently makes the Sonata and Elantra in a joint venture with Hyundai, though Cho wouldn’t say whether the two sides were discussing Genesis production.