Why waste the time and money?
Genesis is in a unique position amongst luxury automakers. It can't rely on branding, a process that typically takes years (if not decades) to create. Just look at BMW and Porsche, for example. Lexus also had this same issue back in the early 1990s. However, this lack of tradition enables interesting possibilities moving forward. Genesis is not constrained by heritage, such as an engine type or design. And so far, this has been serving the Korean carmaker very well.
This year, the all-new Genesis GV80 luxury SUV will hit the market, and the smaller, yet to be revealed GV70 isn't too far behind. The G70 sport sedan has also been updated and the G80 is all-new. And if you haven't noticed, all current models are combustion-engined-only. There are no hybrids or plug-in hybrids. Will that ever change?
The Detroit Bureau reports that during a recent presentation to Detroit's Automotive Press Association, Genesis CEO Mark Del Rosso stated clearly the brand has no plans for hybrid or PHEV models and will skip directly to pure battery electrification. "It makes a statement that there is an intelligence behind the brand. We felt it was important to make the leap forward to a BEV," he told his audience.
We've known since last March Genesis is working on what could be called the eG80, a fully-electrified version of the G80 sedan aimed directly at the Tesla Model S and the also upcoming Mercedes EQS. Genesis aims to electrify every current model by 2024, meaning the eG80 is only the beginning.
Prototype eG80s have been up and running in various corners of the globe, including the Nurburgring. Genesis' parent company, Hyundai, recently unveiled yet another new brand, Ioniq, which is solely dedicated to all-electric vehicles. Its first model, the Ioniq 5 mid-size crossover, is scheduled to launch sometime next year. The technological advancements from Ioniq will also benefit Genesis.
Del Rosso also confirmed there are no plans to drop sedans. "While the sedan segment is shrinking, we're still gaining share," he said. The fact that Genesis' first EV will be a sedan is proof of that commitment.