Count Genesis Motor North America’s Mark Del Rosso among those vouching for the long-term viability of electric vehicles.
The Fountain Valley luxury automaker earlier this year announced plans for an electric-powered G80 sedan, marking the brand’s first EV model.
Pricing and other details have not yet been released for what it calls the Electrified G80, but are expected later this year. The gas-powered G80 starts around $50,000; trade reports expect a starting price in the $60,000 range for the EV.
“That was the first product announcement of several that will be coming in the not-so-distant future,” Del Rosso told our Kari Hamanaka late last month. “We believe in electrification because it’s what the consumers are demanding in the marketplace.”
And the electric space, Del Rosso said, will give Genesis an opportunity to expand its reach to another set of consumers new to the brand.
“The hardest part for me is that there’s so much potential. Prioritization is difficult,” he said. “But I feel very much optimistic that we have a very bright future going forward.”
Del Rosso’s role in that future is unknown. The carmaker last week said its CEO and president had taken a leave of absence to handle a personal matter. He was named to the position in late 2019.
José Muñoz is currently serving as interim CEO for Genesis, adding to his already busy plate. Muñoz is president and CEO of Fountain Valley-based sister company Hyundai Motor North America. He’s also global COO of Korean parent company Hyundai Motor Co.
The exec news comes amid a strong sales period for Genesis. It sold 4,054 vehicles in June, a 185% jump from the year-ago period. It was a new monthly sales record for the company.
“Clearly, our brand positioning is differentiated. We are becoming more and more relevant in the marketplace,” Del Rosso said last month.
For more on the area’s growing base of EV makers, see Hamanaka’s front-page story on how Irvine’s Karma Automotive and Rivian are upping their production of fleet vehicles.
At the end of last month, the NCAA’s board of directors said it would officially suspend the college sports group’s rules prohibiting athletes from selling the rights to their names, images and likenesses, or NILs.
While NCAA rules preventing schools from paying players directly remain, it appears as though the new rules will allow student-athletes to monetize their social media accounts, and get paid for signing autographs or starting a business, among other things.
Details on the NIL rules are still murky and could vary by school location and sports conference. Newport Beach sports agent Leigh Steinberg says that the “freedom to market” NIL’s will make some schools much more competitive in high school recruiting.
Noted Steinberg via a Twitter message: “Why would a major star sign with [a] school in a state that doesn’t allow [it]?”
His quarterback-heavy firm has already signed Oklahoma Sooners QB Spencer Rattler for NIL representation.
