LONDON: Hyundai Motor is planning to launch a luxury electric vehicle under its Genesis brand to expand the lineup of its new premium lineup, Senior Vice President Manfred Fitzgerald said."We will definitely go as Genesis brand down the road of alternative propulsions and it is very, very obvious that EV is definitely on the map," Fitzgerald told reporters on the sidelines of an auto show in Busan, without elaborating on details such as a launch date."I think full electric cars will be the future in the auto industry," said the former Lamborghini director who recently joined Hyundai and leads strategy for Genesis, which broke out as a standalone luxury brand in November.Genesis is a departure for Hyundai Motor, which had earned its reputation as a value brand, and is seen aiming at tapping growing demand for premium cars with higher prices to boost flagging profits. But the brand faces a challenge of carving out its own identity and differentiating itself from its group br ands — Hyundai and Kia Motors — as well as German competitors, analysts say.
Source: Genesis electric cars are under development
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