Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Why financial hardship is more likely if you’re disabled or sick 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
AI is driving down the price of knowledge – universities have to rethink what they offer 
Britain has almost 1 million young people not in work or education – here’s what evidence shows can change that 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Why a ‘rip-off’ degree might be worth the money after all – research study 
Parents abused by their children often suffer in silence – specialist therapy is helping them find a voice 
Disaster or digital spectacle? The dangers of using floods to create social media content 
The American mass exodus to Canada amid Trump 2.0 has yet to materialize 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Genesis, Hyundai Motor Co.'s luxury brand, is poised to hit a million sales just under eight years after its 2015 launch, outpacing industry norms. Meanwhile, Hyundai secures a strategic EV partnership in China with NaaS.
As of last month, the automaker has sold 983,716 units worldwide, with 682,226 sold domestically and 301,490 sold internationally. With an average monthly sales volume of around 20,000 units, reaching the million mark is almost guaranteed for Genesis this month.
Launched in November 2015 as South Korea's first premium car line under the guidance of Hyundai Motor Group Chairman Chung Eui-sun, Genesis had faced skepticism due to concerns about cost-effectiveness. However, the brand proved its mettle and eased such fears with its stellar performance.
Moreover, Genesis' share of Hyundai Motor's global sales has surged from 1.2% in 2016 to an impressive 5.4% in the first quarter of this year. Comparatively, Lexus, the luxury brand of Japan's Toyota, took 32 years to exceed 5% of its company's sales after its launch in 1989, making Genesis' growth all the more remarkable.
Among the Genesis models, the best-selling one is the semi-large sedan G80, which has sold an impressive 380,127 units since its launch in July 2016. The luxury SUV GV80 comes in second place with 169,894 units sold, followed by the midsize SUV GV70 with 154,333 units sold.
In other news, Hyundai Motor Group has recently signed a partnership agreement with the Chinese EV charging service provider, NaaS, to bolster its presence in the world's second-largest economy. The Korean automotive giant aims to increase sales of its electric vehicles (EVs) in China, and the collaboration with NaaS will focus on cooperation in EV charging services.
NaaS, established in 2019 as China's pioneer specialized EV charging service information company, boasts substantial information on 55,000 charging stations and 400,000 charging points across China.
Notably, the company made waves in March when it unveiled its autonomous EV charging robot and actively engaged in developing innovative EV charging-related services. This marks a significant move for Hyundai Motor Group as it continues to expand its foothold in the global automotive market and make strides in the EV segment.
Photo: Hyundai Motor Group/Unsplash
