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Hyundai's Genesis luxury brand not going to Europe this decade

After dipping into the premium market with the Genesis and Equus sedans, Hyundai made headlines with the planned launch of a separate premium brand, Genesis. It starts with the renamed G80 (nee Genesis) and redesigned G90 (Equus) sedans here in the US, but European consumers will have to wait. "To launch a premium brand in Europe is a challenge and it's an even bigger challenge if you don't have the products you need for the market," Hyundai Europe Chief Operating Officer Thomas Schmid told Automotive News Europe. "Europe won't see it before 2019. The main reason is we need different powertrains." Powertrains aren't the brand's only shortcoming. With the G70 – a 3 Series competitor – coming as the third showroom product, the brand also won't have a competitor in the increasingly important crossover ranks. As Schmid told ANE, "we don't yet see the right moment to do it because at the end, we want to be successful, and successful also means profitable." Initially, Genesis will launch in North America, the Middle East, China, and South Korea. Pushing back the European launch to 2019 or 2020 should give Genesis some breathing room, ANE reports. By that point, the company will offer six different vehicles, including two CUVs. According to Schmid, the brand would launch in Europe with just five vehicles. At halfway through 2016 and nothing but the G70 on the radar, expect an aggressive product launch schedule in the coming years if Genesis is going to stick to that timeline. Related Video: Featured Gallery Genesis Hybrid Sport Sedan Concept View 10 Photos News Source: Automotive News EuropeImage Credit: Genesis Genesis Hyundai Crossover Luxury

Hyundai Tucson Fuel Cell gets massive 43% price cut in South Korea

Hyundai is soldiering on with its fuel-cell-powered Tucson, ordering an enormous cut in the zero-emission CUV's price in the company's home market. The 43-percent reduction, when combined with subsidies from the South Korean government, brings the cost of entry to a still-lofty $54,000, Ward's reports. While that's undeniably a lot of money, we need to explain just how wildly expensive the Tucson FCV was in the first place. Hyundai trimmed a total of $67,000 from the $144,000 starting price. Even with some very significant – and not unusual – subsidies, the fuel-cell model still cost $86,000. Considering where things started from, $54K seems like a relative bargain. Beyond South Korea, Hyundai is expected to announce some sort of price cut in Europe, where the Tucson is marketed as the ix35 FCV, but it's unclear at this point if the Euro model's price tag will get such a dramatic reduction. We haven't heard of any changes to the cost of the lease-only North American-market Tucson FCV, which is currently available in California for $499 per month with $2,999 down. Related Video: Featured Gallery 2015 Hyundai Tucson Fuel Cell View 29 Photos News Source: Ward's Auto Green Hyundai Alternative Fuels Crossover Hydrogen Cars hyundai tucson fcv hyundai ix35

Hyundai leased 70 Tucson fuel-cell vehicles in first year

Since going on sale in the early summer of 2014, Hyundai has leased around 70 of its hydrogen fuel-cell-powered Tucson CUVs. That's the number that Mike O'Brien, Hyundai's vice president of corporate and product planning, revealed at a green vehicle event in Huntington Beach, CA, this week. There's a reason for the low number, O'Brien said. "Of course, everybody asks 'Why 70?' and it's basically tied to the number of fuel stations that are available," he said. "We were the first to actually pass over ownership of the vehicle, it's not a test program. It helps people put their money on the table, and they lease the car from us and it's their car. The customers that we've leased the vehicle to are ones that live close to a fuel station. "Right now there is less than 10 in the state of California. By the end of this calendar year, there should be in the mid-20s. And then, of course, under Gov. Jerry Brown's $200 million towards construction, I believe about 100 stations [will come online] through the end of the next couple of years. As those stations get built out, we're taking more and more applications for vehicle sales." In January 2014, O'Brien told AutoblogGreen that 88,000 people had expressed an interest in owning a fuel-cell Tucson. O'Brien said that Hyundai needs the customers to be close to a hydrogen station so that driving the car feels similar to what they're used to doing. "We just want to make sure there is a satisfying experience of ownership, and that's the most important thing, to make that their ownership experience matches what they've experienced with a gasoline car," he said. The Hyundai Tucson Fuel Cell can be leased for $499 a month, which includes free refueling. For the 2016 model year, the Tucson FCV gets HomeLink connectivity in the rear-view mirror and two new exterior colors, Hydro Blue and Chromium Silver, in addition to the already available Winter White. 2016 Hyundai Tucson Fuel Cell Continues To Attract Zero-Emissions-Focused Customers With New Colors And Features World's First Mass-Produced Fuel Cell Vehicle Available For $499 per month Lease Includes Unlimited Free Hydrogen Refueling and At Your Service Valet Maintenance FOUNTAIN VALLEY, Calif., May 22, 2015 /PRNewswire/ -- Hyundai's zero-emissions, hydrogen-powered Tucson Fuel Cell vehicle continues to satisfy and attract new customers focused on high-versatility and clean transportation.