South Korea's Hyundai launches luxury car brand

South Korea's Hyundai Motor launched a high-end brand named after its Genesis sedan, as it looks to expand its presence in the fast-growing luxury auto market. Hyundai said its premium Genesis brand - starting with its two existing sedans - will introduce four new models by 2020, including a large sedan to be unveiled next month. The company has boosted its high-end auto lineups, including Genesis and Equus, in recent years in a bid to shed its image as a cheaper alternative to bigger rivals like Toyota. "I am confident that the launch of the new brand will play a major role in our future growth," said Hyundai Vice Chairman ChungW Eui-Sun.