Genesis's first HYBErid model, the 'GV80 HYBErid,' scheduled for release next month, will be sold in the mid-to-late 70 million won range. This is a lower level than the initially expected 80 million won range, and is interpreted as a strategy to secure initial demand by leveraging price competitiveness and establish a foothold in the HYBErid market.
According to the automotive industry on the 5th, it has been determined that the starting sales price of the GV80 HYBErid, which is about to be released, will be in the mid-to-late 70 million won range.
The market had forecasted that the price of the GV80 HYBErid would reach the 80th million won range. This was because Hyundai and Kia have historically launched HYBErid models at higher prices than internal combustion institutional investor models, and since Genesis is newly developing and applying a dedicated rear-wheel-drive-based HYBErid system, it was expected that development costs and brand premium would be reflected.
In the domestic premium HYBErid SUV (Sport Utility Vehicle) market, the starting price of the Lexus RX 350h, which is cited as a competitor to Genesis, is 87.9 million won. If the GV80 HYBErid comes out in the mid-to-late 70 million won range, its starting price would be nearly 10 million won lower.
The GV80 HYBErid will be equipped with a rear-wheel-drive HYBErid system based on a 2.5L turbo engine. By applying an electrified powertrain developed exclusively for Genesis, the focus has been placed on enhancing power performance and quietness.
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