From left: Amy Marentic, Chief Marketing Officer of Genesis Motor North America; Tedros Mengiste, Chief Operating Officer of Genesis Motor North America; Jose Munoz, President of Hyundai Motor; Luc Donckerwolke, President and Chief Design Officer and Chief Creative Officer of Hyundai Motor Group; and Lee Si-hyuk, Executive Vice President and head of the Genesis Business Division, speak at a media session for Korean reporters held at the Palace of Fine Arts in San Francisco on Oct. 20 (local time). Hyundai Motor Group
SAN FRANCISCO — Hyundai Motor (005380.KS) President Jose Munoz said the company will spread “K-luxury” around the world through the launch of the Genesis GV90, speaking at a media roundtable with Korean reporters held at the Palace of Fine Arts in San Francisco on the 20th, local time. Genesis, the luxury brand of Hyundai Motor Group, had unveiled the GV90, its first flagship sport utility vehicle (SUV), to the world the previous day.
Munoz described K-luxury as a concept that encompasses the product, the technology and the appeal that makes people want to own and use it. “I am confident we can demonstrate performance superior to other luxury vehicles,” he said. “This is not about selling a few more cars or earning a few more dollars,” he added. “The GV90 will place Genesis at the very top of the luxury experience while conveying the Korean value of hospitality toward guests.”
Luc Donckerwolke, President and Chief Design Officer (CDO) as well as Chief Creative Officer (CCO) of Hyundai Motor Group, said that buying a luxury product means not simply purchasing an item but also embracing the identity it carries, including its regional and national identity. “The more luxurious a product is, the more it must have roots,” he said. Donckerwolke explained that Korean elements such as ondol underfloor heating and the moon jar can be used as a higher-level story. “We are not selling products, we are selling stories,” he said. “I am proud that Genesis is part of the journey of introducing Korean culture,” he added. “Owning a Genesis vehicle will be an opportunity to learn Korean values.” Referring to the moon jar that inspired the GV90’s design, he said the company lives in an era when design has become overly complex. “The motto of our design is to strip away until there is nothing left to remove, like a pure moon jar, leaving only the essence of the design,” he said.
Lee Si-hyuk, head of the Genesis business division at Hyundai Motor Group and an executive vice president, said Genesis is pushing to expand global sales with a target of 350,000 units a year by 2035. “With the GV90 we will enter the large-EV market, and we will develop xEV lines including extended-range electric vehicles (EREV) to draw more demand,” he said. On the North American market, a core region for Genesis, he said the company is focusing on continuously strengthening its network of dedicated dealers. Amy Marentic, Chief Marketing Officer (CMO) of Genesis Motor America, added that the company had produced a short film linking Marilyn Monroe and the GV90 in collaboration with director Maggie Gyllenhaal. She said it will be shown for the first time at the Venice International Film Festival in September before being screened at the Busan International Film Festival in October.
Separately, Munoz said in an interview with CNBC that day that the company is considering raising the annual production capacity of Hyundai Motor Group Metaplant America (HMGMA) in Georgia from the current 500,000 units to between 700,000 and 800,000 units by 2028. Through this, Hyundai Motor Group plans to lift the share of vehicles produced locally among the cars it sells in the United States from the current 40% (as of 2024) to more than 80% by 2029. In that case, Hyundai Motor Group would overtake Tesla and Toyota to become the automaker with the largest production capacity in the United States at a single plant.