SEOUL -- Hyundai Motor Group will launch its premium brand Genesis in Europe this summer, debuting its flagship sedan and SUV in one of the world's fastest growing electric-vehicle markets.
Genesis said it will sell both conventional and electric models in the region.
The brand was launched as a standalone luxury division in 2015 to compete with premium brands like BMW, Mercedes-Benz and Lexus.
The unit said orders will open for the Genesis G80 sedan and the Genesis GV80 SUV in June, with the new G70 sedan and GV70 SUV following soon after.
Genesis said it will sell to customers directly, both online and through its retail studios, initially in London, Munich and Zurich. It said it has optimized car ownership so customers will not need visit a dealer because of its home pick-up and delivery service.
"The Electrified G80 will be the first all-electric Genesis to arrive in Europe. A further two battery electric cars will follow, providing European customers with a choice of three Genesis zero-emissions cars within the first year," Genesis Motor Europe said in a statement on Tuesday.
Lee Seung-hwan, an analyst at Daishin Securities, said: "While Genesis cars are now at a level right below Lexus cars in the U.S. market, it would take some time for them to stand out in Europe as a luxury brand, considering competition among prominent European brands."
Lee said however the Genesis brand has room to grow in the European market as they could offer more cost-competitive EVs than other European automakers.
Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10 percent of overall sales, data from industry association ACEA showed.
In the first quarter, sales of Genesis cars jumped 165 percent in South Korea and more than doubled from a year earlier in the United States, according to Hyundai sales data. The brand launched last month in China.
