South Korean automaker Hyundai Motor Co appears set to launch a standalone global premium product line-up, to be called Genesis, as it seeks to boost profitability which is being squeezed by a strong won currency.
Hyundai is expected to announce the move as early as Wednesday, three people close to the company said.
The maker of the Sonata midsize sedan and Santa Fe crossover sport utility vehicle (SUV) plans to launch Genesis as a separate global brand, though the line-up is likely to be sold through the existing Hyundai-brand distribution channel – at least for now, said one of the knowledgeable individuals.
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