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Genesis Electric Vehicle Expansion Targets Europe After Le mans Debut
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France, Italy, Spain, and the netherlands, debuting its Magma Racing division at Le Mans.">
Le Mans, France – Genesis, the luxury automotive brand under the Hyundai motor Group, is aggressively expanding its presence in the European market with a focus on electric vehicles (EVs). The declaration, made during the prestigious 24 Hours of Le Mans race, signals a major strategic shift for the Korean automaker [[1]].
Genesis Announces European Expansion
Genesis revealed plans to launch all-electric versions of its GV60 compact SUV, GV70 midsize SUV, and G80 midsize sedan in France, italy, Spain, and the Netherlands in early 2026 [[3]]. This move expands Genesis’s European footprint from three countries (Germany, britain, and Switzerland) to seven as its initial debut in 2021.
The company is pivoting entirely to EVs in Europe, phasing out combustion engine models to align with the European Union’s (EU) proposed 2035 ban on the sale of new gasoline-powered vehicles. The EU Parliament approved the law in February 2023, mandating a 100% reduction in CO2 emissions from new cars and vans by 2035 [[2]].
did You Know? The transportation sector accounts for 23% of Europe’s greenhouse gas emissions, with road transport contributing approximately 70% of that figure.
Strategic Shift to Electric Vehicles
Xavier Martinet,head of Genesis Motor Europe,emphasized that Europe’s stringent carbon regulations make selling internal combustion engine (ICE) vehicles increasingly challenging. He noted that larger vehicles face higher emissions penalties, making electrification a strategic priority.
Despite its ambitions, Genesis faces stiff competition from established European luxury brands such as Mercedes-Benz, BMW, and Audi, as well as ultra-luxury marques like Bentley and Ferrari. In 2024, Genesis sold only 2,660 vehicles in Europe, representing a small fraction (1.2%) of its global sales of 229,532 units.
Genesis is betting that its competitive pricing and performance will attract European consumers. For example, the GV70 Electrified is priced around $58,500 (80 million won), potentially undercutting rivals like the Mercedes EQE, which retails for approximately $104,000 (93,000 euros) in France.
Pro Tip: When comparing electric vehicle prices, consider factors beyond the initial cost, such as government incentives, charging infrastructure availability, and long-term maintenance expenses.
Motorsports and Brand Visibility
To enhance brand visibility, Genesis established its own racing division, Genesis Magma Racing, in December 2024. The team made its debut at the 2025 24 Hours of Le Mans,a prestigious endurance race with a large European following. At Le Mans, Genesis unveiled the GMR-001 hypercar, developed by Magma Racing, showcasing its performance aspirations.
Lee Ho-geun, an automotive engineering professor at Daeduk University, believes Genesis’s timing aligns well with Europe’s EV transition. “
