BEIJING – Hyundai Motor Company will export its latest luxury E-class sedan, the Genesis, to the Chinese market next April, the company announced in a press release on November 7.
The Genesis will be marketed under a new name, the Rohens, in the Chinese market. It will be competing with the Lexus ES, BMW 5 Series and Benz E-class vehicles in China, according to Hyundai China’s imports business spokeswoman Li Meilan. Li declined to reveal the pricing of the luxury vehicle, but sources close to the company told media that the Genesis will be sold at around ¥400,000 ($53,333) and aim at a sales target of 3,000 units in China in 2008.
The Genesis concept vehicle made its global debut at the New York International Auto Show early this year and will also appear at the coming Guangzhou auto show in late November.
The rear-wheel driven Genesis is equipped with ZF’s 6-gear automatic transmission with Shiftronic manual control and Hyundai’s newest TAU DOHC 32-valve V-8 engine, which provides a maximum power of 300 hp. It can accelerate to 100 km/h within six seconds.
The Genesis will enter mass production in South Korea at the end of this year to meet demands from overseas markets. Hyundai aims to erase its accepted image of “cheap car maker,” and improve its brand image in the high-end vehicle market with this luxury model.
In addition to China, the Genesis will also enter the U.S. markets next year. The Korean automaker expects sales of the vehicle to hit 20,000 units in the U.S., according to company sources.