Genesis is competing for the first time in the Hypercar class of the Le Mans 24 Hours endurance race, held at the Circuit de la Sarthe in Le Mans, France, on June 13-14. Taking on the contest first established in 1923 with a history spanning more than 100 years, Genesis simultaneously announced expansion into four additional European countries and declared plans to boost sales through a dealership system, unveiling a strategy to cultivate Europe as its second overseas market after North America.
Goal Is to 'Finish'... Next-Generation Concept Car Draws Attention
Victory goes to the team that covers the longest distance over 24 hours, repeatedly circling the roughly 14-kilometer track. The endurance of the race car and the stamina and concentration of the drivers are key. Genesis Magma Racing, the brand's motorsport team, is fielding two hypercars, with the goal of finishing the race.
Alongside the race, Genesis also unveiled a series of next-generation concept cars. The Magma GT3 Concept, shown for the first time worldwide, was developed as a purpose-built competition vehicle optimized for the racing environment. To explore the potential for expanding Genesis's motorsport and high-performance domains, it embodies core elements demanded in a competitive setting, including aerodynamic performance, cooling efficiency, thermal management, and durability. Its body configuration, designed for the racing environment, also enhances high-speed stability and cornering performance.
At the driver parade held in the city of Le Mans, two models evolved from the "Genesis X Gran Convertible Concept," first unveiled last year, were revealed. These models combine an architecture study based on the G90 with a further-strengthened Magma design.
The "Liquid Titanium" model, based on colors inspired by Magma Racing, evokes the dynamic atmosphere of the racing environment, while the "Midnight Teal" model emphasizes a more relaxed and elegant sensibility through calm, refined colors and tartan-patterned materials.
José Muñoz, president and CEO of Hyundai Motor (005380.KS), said, "Genesis has grown the fastest among luxury automotive brands, and this race is an important stage where performance can be verified in extreme conditions." He added, "The experience gained through the race will be reflected in the development of Magma performance vehicles and across business operations."
Entering Four Countries Including Poland... Targeting a 1.29 Million-Unit Market
Genesis, Hyundai Motor's luxury brand, declared its expansion into four additional European countries simultaneously with its debut in the Hypercar class of the Le Mans 24 Hours, the world's most prestigious endurance race. Through new entry into Poland, Portugal, Denmark, and Austria, the move aims to broaden its reach beyond Europe's five largest automotive markets—Germany, the United Kingdom, France, Italy, and Spain—into Eastern, Southern, and Northern Europe.
Genesis said in Le Mans, France, on June 12, where the Le Mans 24 Hours is held, that it will enter four additional countries—Poland, Portugal, Denmark, and Austria—by 2027. With this, Genesis will complete a sales network spanning 11 European countries next year.
Genesis first entered Europe in 2021. At that time, it launched not only in Germany, the home of the automobile, but also in Switzerland and the United Kingdom. Last year it expanded into France, Italy, and the Netherlands, and it will enter Spain in the fourth quarter of this year.
The four newly targeted countries form a market of 1.29 million units annually. Of these, electric vehicles account for about 280,000 units and the luxury car market for about 300,000 units. Poland in particular holds a market of 600,000 units per year, making it the sixth-largest market in all of Europe, after Germany (2.8 million units), the United Kingdom (2 million units), France (1.6 million units), Italy (1.5 million units), and Spain (1.1 million units).
Genesis plans to target the new markets with a differentiated electrification strategy, as all four new countries are showing outstanding electric vehicle growth rates. As of last year, the electric vehicle market growth rate in the four countries was 47.2%, far exceeding Europe's overall electric vehicle market growth rate of 29.7%. The company plans to feature not only the GV60 electric model but also electrified versions of the GV70 and G80.
Shifting to Dealership Sales to Grow the European Market
Along with entering new markets, Genesis is shifting its sales method in the European market to a dealership system. Since first entering Europe in 2021, Genesis had adopted a method in which the manufacturer sells vehicles directly to customers, in order to quickly establish a "premium image." Recently, however, it concluded that a dealership sales method—drawing on dealers with strong local networks—is more effective for full-fledged brand expansion. Accordingly, it opened its first European dealership in Amsterdam, the Netherlands, in April this year and began operating a dealership in Padua, Italy. In the second half of this year, it will add dealership networks in Lille, France, and Rome, Italy.
The strategic shift toward aggressive sales stems from the judgment that the brand has built sufficient awareness and trust in the European market. In April this year, Genesis ranked first overall in the "Best Brand in Every Class," an annual reader survey conducted by the German automotive magazine Auto Bild. The achievement came ahead of Germany's homegrown brands, including Mercedes-Benz, BMW, and Audi.
The participation in the Le Mans 24 Hours Hypercar class is also seen as a strategic decision in terms of expanding contact with European motorsport fans. The aim is to actively use motorsport not merely as a sports marketing tool but as a link with European customers, solidifying its position as a luxury lifestyle brand.
Lee Si-hyuk, executive vice president and head of the Genesis Business Division, said, "Genesis's European expansion is not simply external growth but a process of redefining what a modern luxury brand is." He added, "We will continue to broaden our points of contact with European customers, leading with electrification and brand experience."
