Genesis to boost profits via Hyundai Motor Group ties
SAN FRANCISCO — Genesis will shore up profitability against tariffs from the United States by deepening engineering and manufacturing ties with Hyundai Motor Group, key executives from the Korean auto brands said Thursday (local time). Hyundai Motor CEO Joze Munoz pointed to what he described as long-running technical cost reduction programs, which he said allow the group’s auto brands — Hyundai…
Genesis is set to improve its profitability amid U.S. tariffs by forging closer engineering and manufacturing partnerships with Hyundai Motor Group, according to key executives from both Korean auto brands. Hyundai Motor CEO Joze Munoz highlighted ongoing technical cost reduction programs, stating that the group's auto brands - Hyundai Motor, Kia, and Genesis - can standardize parts, enhance quality, and reduce expenses simultaneously.
Munoz detailed a wide range of areas where the automakers aim to achieve cost savings, including engineering, manufacturing, design, production, supplier contracts, and distribution. Munoz confidently stated that the group had outperformed most of their competitors, even in the face of tariff challenges. He cited the record quarterly sales of Hyundai Motor, reaching 49.21 trillion won ($35.28 billion) between April and June, as evidence of the effectiveness of their strategy.
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- Genesis to boost profits via Hyundai Motor Group ties koreatimes.co.kr
