Luxury auto brand Genesis is looking to a raft of new vehicles – including new flagship models and its first hybrids – to push its global annual sales to 350,000 by 2030.
For context, the Hyundai-owned premium brand expects to sell 225,000 vehicles across its trio of passenger cars (G70, G80, G90) and trio of SUVs (GV60, GV70, GV80) in 2025.
It’ll expand beyond this sextet with a flagship SUV based on the Neolun concept, and Genesis has confirmed it’ll put this year’s X Gran Equator luxury off-roader concept into production.
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“We are also evaluating an elegant convertible with an emotional look and feel that reinforces Genesis reputation for design leadership, and we are working on a concept that expresses the emotional thrill of the racetrack while on the road,” said Hyundai Motor Company chairman and CEO José Muñoz at the company’s recent 2025 CEO Investor Day.
Earlier this year, Genesis revealed the X Gran Convertible concept, a large convertible based on the flagship G90 sedan. It stopped short of confirming it for production, though now it appears Genesis is getting closer to giving this niche flagship product the green light.
At the event, Genesis also teased a Magma-branded sports car concept.
After previously planning to leapfrog from combustion power to electric power, Genesis recently confirmed it would add hybrids and extended-range electric vehicles (EREVs).
The Korean luxury brand’s first hybrids will start rolling out in 2026 and they’re expected to be offered across myriad global markets. The company has previously confirmed they’ll start arriving locally in 2027.
Meanwhile, Hyundai Motor Company plans to offer EREVs – in which the petrol engine serves only as a generator – with a combined range of over 900km when fully charged as well as an “EV-like driving experience”.
Genesis is also rolling out its Magma high-performance sub-brand, with its first model – the GV60 Magma small electric SUV– launching this year. It’ll arrive in Australia next year.
The company is also working on a new platform, launching in 2028, which will support hybrid, electric, and extended-range electric vehicles.
“We are confident in the brand’s bright future, but humbled by the challenges we face as a newcomer in a very competitive market,” said Mr Muñoz.
“We’ve reached one million cumulative unit sales in eight years, faster than any of our competitors.”
Mr Muñoz said Genesis is contributing double-digit profits to the wider Hyundai Motor Company.
Hyundai says it sees opportunities for Genesis across all regions and segments, but it expects US sales to increase by 55 per cent by 2030. It plans to build more Genesis vehicles in the US, and also launch hybrids and EREVs there.
Genesis currently sells vehicles in 20 global markets, but is planning to expand significantly in key markets such as Europe.
It’s aiming to be present in 20 markets on that continent alone, and says the launch of hybrids should help fuel its sales growth there – it has gotten off to a slow start in the European markets it does compete in.
“Five years back we anticipated that the EV era would arrive very quickly, and we really wanted to be a leader and a disruptor in the EV space,” said Genesis global boss Mike Song last year.
“Electrification is still our vision. We will have 100 per cent electrified vehicles, but the market and the customers now want hybrid more than EV, so we really want to bring Genesis hybrid into the market as soon as possible.
“We will apply it to as many models as possible.”
At the beginning of this year, Mr Song further confirmed Genesis’ previously stated goal of an EV-only lineup by 2030 had been scrapped.
“Hybrid, EV, ICE – everything is on the table. It’s the customer that just chooses the right fit for their needs,” he told Australian media.
“2030, 2035… if we think there are customers for ICE, hybrid, then we’ll do it. This is my answer – even 2050.”
To the end of August, Genesis has delivered 1033 vehicles in Australia this year, up 8.6 per cent on the same period last year. The vast majority of these – 75.4 per cent – were of the GV70 mid-size petrol and electric SUV.