Genesis mulls small premium EV as it expands line-up
Genesis is open to launching smaller electric cars in the future as it continues to expand its range.
For now, its smallest is the 4.5m-long GV60 crossover, which leaves plenty of room below it.
It has experimented with a smaller model in the past with the Mint concept in 2019.
Now it’s investigating future segments that it could enter in order to expand its customer base, said Genesis Europe MD Peter Kronschnabl.
When asked specifically whether that means smaller models, particularly at a time when parent brand Hyundai is about to launch a smaller mainstream EV of its own in the Ioniq 3, Kronschnabl said: “We’re evaluating this still but [have] nothing to confirm.
“For sure, for a brand that is evolving, we need to look at fast-growing segments where we might need to be present in order to nurture customers.”
Any segment that Genesis enters will need to have long-term and sustainable growth potential, though: the brand won’t go chasing short-term opportunities.
“There are some niches,” said Kronschnabl. “For instance, there’s not a real premium pick-up truck. But is that a segment you should enter?
“So there are segments where maybe there is white space but they don’t make sense [for us].
“You need to be very careful when you look into this white space and not just go there because you believe there is a short-term opportunity.”
Asked if that means all decisions are taken with a long-term view, Kronschnabl said the Genesis project is “a marathon not a sprint”.
“We have to have the right products in order to continuously grow the brand. Therefore the long term is more important than the medium term.”
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