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 brand said Thursday (local time). Hyundai Motor CEO Jose Munoz pointed to what he described as long-running technical cost reduction programs, which he said allow the group’s auto brands — Hyundai…
Genesis aims to boost profitability amidst US tariffs by strengthening engineering and manufacturing collaborations with Hyundai Motor Group, according to executives from the Korean automaker. Hyundai Motor Group CEO Jose Munoz highlighted ongoing technical cost reduction programs that enable the group's brands - Hyundai Motor, Kia, and Genesis - to standardize parts, enhance quality, and reduce expenses simultaneously.
Munoz discussed a wide range of initiatives where the companies strive to achieve cost savings across various sectors, including engineering, manufacturing, design, production, supplier contracts, and distribution. Despite the tariffs, Munoz expressed confidence in the group's performance, stating that they have outperformed many of their competitors.
He credited the success to the continuous growth of Hyundai Motor sales, which reached a record quarterly figure of 49.21 trillion won ($35.28 billion) in the first quarter.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Genesis to boost profits via Hyundai Motor Group ties koreatimes.co.kr
