Humble beginnings producing cheap cars for the masses gave Hyundai it?s start in the automotive world, but Hyundai are no longer content with just being a manufacturer of 'cheap and cheerful' products. With their aim firmly set on the likes of Lexus and Infinity, Hyundai are looking to establish their own premium brand.
Young-Key Koo, a Hyundai executive has confirmed that Hyundai are intending to establish a stand-alone luxury brand that will feature its own unique branding and logo, much like Toyota?s Lexus luxury division.
?In 2010, we will officially launch our luxury brand name and logo along the lines of Toyota?s Lexus, Nissan?s Infiniti and Honda?s Acura. All of our luxury models will have the new badge.? Koo explained in an interview with China Daily
Hyundai?s assault on the luxury car market under a new brand will begin in China and if success is achieved then we can expect Hyundai to move the new brand into other markets.
Hyundai?s new value for money luxury contender, the Genesis sedan is due to go on sale in the US later this year. Koo has also revealed that the Genesis sedan is not the only new premium model that Hyundai are working on. They also plan to introduce to the Chinese market a new sports car they call the ?BK? and a new top-of the-range 4.8-litre V8 powered sedan, with a crossover style vehicle to follow.
You could be forgiven for thinking that this is a great start ? but wait, there?s more! Hyundai intends to continue to launch premium models on a regular basis, some one or two new models a year in an effort to reinforce the new premium badge image, and because this is what their Japanese competitors do.