Genesis is contemplating introducing a small, luxury electric car focused on the European market, possibly beating Tesla’s proposed entry-level model to market.
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The car would be modelled after the 2019 Genesis Mint concept, which received favourable feedback, but a production car has not been produced as of yet. Unveiled at the New York motor show, the car was revealed when Genesis had not yet made its debut in Europe. The car’s compact dimensions suggest that a production model would be geared towards a European audience.
Mark Choi discusses Genesis’ considerations for launching a small EV as an entry-level model
According to Mark Choi, Genesis’ head of product planning, the company is considering expanding its model line-up, with particular attention to a smaller car for the European market. However, Choi points out that the decision is not as simple as introducing new models and that the company needs to balance its manufacturing capabilities against its projected sales growth and the increasing cost of raw materials.
Choi suggested that the launch of the small EV might be delayed due to a factor he mentioned earlier. The small EV would be positioned below the Genesis GV60 crossover in the line-up of the Korean company, serving as the entry-level model. Although it would not be priced like a luxury car, Choi pointed out that raw material prices for batteries were crucial. He further mentioned that waiting for material costs to decrease could be a wiser decision, but nothing is final yet.
Exploring the future of luxury cars: SangYup Lee studies the Mint Concept for small, sleek designs
SangYup Lee, the design boss, has mentioned that they are currently studying the Mint concept to understand what a small luxury car could look like. He believes that a small luxury car could be a new concept as people in the city don’t necessarily want a big car.
The Mint concept car boasted twin scissor doors, but the production model may need to be more versatile to compete with upscale models such as the Volkswagen ID 3 or Renault Mégane E-Tech. Rear access is critical for these cars, making it necessary to reconsider the Mint’s design.
It is possible that The Mint will need to increase its claimed range of 200 miles, but its 350kW fast-charging capacity could make a smaller battery feasible for a car designed for city use, which would help to keep the price lower.
