The first Genesis electric car will be weaker than its competitor from Kia and Hyundai, he said. But he also believes that Genesis will position itself to be the alternative to Tesla, with more of a luxurious approach.
“The biggest challenge for Genesis is that people love the concept car, but I don’t think they love the electric car,” he said. “It’s something that we will work on in the next two years.”
Through the Genesis brand, Hyundai plans to expand its reach in the luxury segment, which is dominated by Volkswagen, BMW and Mercedes-Benz.
Genesis will use the vehicle to promote its vehicles across the company’s lineup, and provide an entry point for customers who don’t want to pay the five- or six-figure prices for other brands. Genesis may use its vehicles to test a potential subscription or leasing service, Carlini said.