Hoping to attract the rich buyers in the world’s second largest auto market, Hyundai said today that it has plans to introduce a premium model in China in April of 2008.
While Hyundai has not release any pricing details on the model, Chinese media reports that it will cost around 400,000 yuan ($53,180). Hyundai aim is to sell 3,000 units of the “BH” model (Genesis) in China in 2008.
According to a Hyundai official, the Korean auto maker hopes to boost its sluggish sales in China and improve its image in the country. The company will roll out the model in South Korea by the end of this year.
Hyundai spokesman Jake Jang said that Hyundai will also start selling the “BH” in the United States around the same time it is released in China, Jang said. Hyundai aims to sell about 20,000 units of the BH in the United States annually.
Of course the “BH” model is going to be based on the Hyundai Genesis concept shown at the New York Auto Show this year.
Recently, Hyundai”s R&D head Hyun-Soon Lee says that the 4.6 liter V8 engine used in the upcoming Hyundai Genesis will produce up to 380 horsepower. Lee, spoke to a group of South Korean business executives at a conference about the upcoming luxury sedan.
Hyundai has said that it hopes to aim the Genesis at the Lexus LS-level of luxury while keeping pricing towards the Chrysler 300C.
Hyundai Genesis Photo Gallery:
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