April 9, 2026 | Genesis COO Ted Mengiste on Magma line; Kia gets into pickups

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Welcome to Daily Drive. For Thursday, April 9th,

2026, I'm Kellan Walker in Las Vegas.

Today on the show, Kia is getting into pickups.

Hyundai's CEO calls globalization completely over,

as the company reroutes ships to avoid the Middle East.

And BYD plans 20 sales locations in Canada.

Plus, Genesis Motor North America's COO, Ted Mingustay,

talks about the brand's new magma performance line.

We wanted to add just a little more energy and adrenaline to our vehicle,

so that's where the performance end comes.

Let's run through all the news you need to know to keep up in the auto industry.

Kia is getting into the pickup truck game.

CEO Ho Sung Song says the company will launch a mid-sized truck

in both electric and range extender versions by 2030.

That puts Kia squarely up against the Toyota Tacoma,

Ford Ranger and Chevy Colorado.

Song's betting on 90,000 trucks a year and 7% of the segment by 2034.

It's all part of a bigger push to crack 1 million US sales.

Kia is also doubling down on hybrids, expanding from 4 to 8 nameplates.

We'll have more on this story in a minute with our own Richard Truett.

Kia parent Hyundai Motor is taking the long way around when it comes to shipping.

The automaker is rerouting ships around Africa to dodge the straight of Hormuz,

where conflict with Iran is snarling supply chains.

CEO Jose Munoz tells Bloomberg, quote,

We have deviated our ships to the Cape of Good Hope.

This is a lot of additional lead time.

The detour is pushing Hyundai to rethink its entire operation,

sourcing more parts locally in Europe and planning to boost US capacity

to 1.2 million vehicles by 2030.

Munoz's take?

He says, quote, Globalization is over.

It's completely over.

And Chinese automaker BYD is opening about 20 sales locations in Canada this year.

That's according to Alfredo Altavilla, a BYD advisor.

The move comes as Canada courts Chinese auto investment to reduce dependence on the US.

In January, Canada agreed to allow up to 49,000 Chinese built EVs annually

after previously blocking them with high tariffs.

Last month, BYD said it's actively considering building a factory in Canada.

And those are today's headlines.

You can find more details on all those stories at autonews.com.

Joining me now to talk more about Kia's dive into the pickup truck segment

is our own Richard Truett.

Richard, welcome back to Daily Drive.

Hey, Cal, it's great to be here.

All right, Richard.

So Kia's jumping into a pretty crowded midsize truck segment

that's long been dominated by Toyota, Ford, and Chevy.

What makes them think they can grab 7% of that market with an electrified pickup?

Well, it's not going to happen overnight, that's for sure,

because the established players have got very, very loyal buyers.

But Kia's got something too.

They have a reputation for value and providing a lot of vehicle for the money.

If you take a look at the puzzle pieces that Kia has been putting together

over the last few years, it starts to make sense.

They've built factories.

They've launched a body-on-frame pickup truck elsewhere around the world,

and they've been preparing for this day.

Now, they know the competition is going to be tough,

and I would expect that when they come into the market,

it is going to be with some value price truck that people are going to look at

because they can't believe the sticker price.

Song is pushing hard on this million-unit sales goal

while also cutting back Kia's global EV targets for the second year in a row.

What's that tell us about how the company sees the US market right now?

Kia is a red-hot brand in the US this year.

Would you believe Kia has outsold Hyundai so far this year?

And if we remember back in, I think, the mid-1990s,

Hyundai rescued Kia from bankruptcy in the Asian financial crisis.

So Kia is kind of like the underlying brand,

but they are just red-hot with the new Telluride and Celtos and Sportage and other SUVs,

and they're building a reputation for building good-looking, reliable vehicles that are of great value.

It doesn't mean success in the pickup truck market,

but it's a heck of a lot better than coming from nowhere.

So, Richard, Kia has access to something that a lot of automakers don't have access to.

Set some light on that.

Good point, Cal.

Hyundai is in the middle of building its own steel plant in Louisiana.

Now, not too many automakers have their own in-house source of steel,

and what this is going to do is going to help protect Hyundai from tariffs

and also reduce supply chain complexity when they can make their steel in-house

and then sell it to their various plants in the US.

There's another thing, too, that's going on.

Do you remember at CES when Hyundai showed off these humanoid robots

that are going to work on the assembly line?

Well, that's going to reduce their labor bill.

So, if you take their in-house steel and robots and combine that with how it could reduce their cost,

they may very well be able to come into the market and undercut all the established players.

And there's one other little thing that we at Automotive News can put together like puzzle pieces.

It's that we know that to make profit, they have to have volume.

So, Hyundai is going to get a pickup truck.

Now, Kia is going to get a pickup truck.

And one of the analysts told me last week that they expect the Genesis brand

to also get a vehicle off that same platform.

So, when you consider there'll be three automakers using that truck platform for trucks and SUVs,

Hyundai's got a clear path rather than Kia to making money off this,

and it may not take that long.

Perfect, Richard.

Very insightful.

Thank you so much for joining me.

Thanks, Cal.

Coming up, Genesis Motor North America's COO, Ted Mingustay,

talks about the brand's new magma performance line and Genesis's growth strategy.

That's next on Daily Drive.

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Welcome back to Daily Drive.

I'm Kellen Walker.

Genesis has been one of the auto industry's fastest growing luxury brands

selling 80,000 vehicles last year.

That's up from just 16,000 five years ago.

Now, the brand is adding performance to its luxury formula

with a new trim level called Magma.

At the New York International Auto Show last week,

automotive news deputy editor Lindsey Van Hully spoke with Ted Mingustay,

chief operating officer of Genesis Motor North America.

They talked about the new Magma performance line,

Genesis' multi-power train strategy,

and the brand's ambitious plans for growth.

Ted Mingustay, welcome to Daily Drive.

Thank you. Good to be here.

So you're showing the the GV60 Magma and the G90 Wingback concept here.

Let's start with the Magline.

Just talk about what that means for the brand and what you're really aiming for.

Well, it's the first introduction of our Magma trim level,

our performance line for Genesis.

So Magma will then move on to other models.

But Magma is going to deliver luxury and performance at the same time.

So not your pitted out or gutted out scale down performance vehicle,

but more the combination of luxury and performance.

So really a great moment for the brand.

And shall I say, the drive is quite exhilarating.

You'll have to get into the car because the torque and the horsepower

delivered in that vehicle just puts a smile on your face when you drive it.

It's a great driving experience.

You talked about that combination of luxury and performance.

Is that, do you see that as a white space opportunity?

And what is it about that combination that you think Genesis customers are going to be looking for?

Well, it really comes from the brand.

The brand has become known for really beautiful designs in the exterior.

And when customers open the door and get in the car,

they're equally surprised and delighted by the beautiful interior design of our vehicles.

So we never wanted to move away from that.

But we wanted to add just a little more energy and adrenaline to our vehicles.

So that's where the performance end comes.

So I think that's the space that we're going to continue down.

And that's the space we've chosen for ourselves.

Wasn't really driven by trying to find a white space in particular,

but more of kind of the foundations of our brand have always been

great designs, great interiors, and then we married up performance with it.

So you see that really being a differentiating factor then?

I think so.

Our vehicles have been differentiated in this space.

If you look at how GV70 and GV80 R2 SUVs have performed in the market,

in a very crowded, very competitive market, our vehicles have differentiated themselves

and performed really well.

So I think this combination with the performance element added into it,

we call it a little shot of adrenaline.

I think that'll be a good combination for us.

Talk then about the wingback concept and really the vision behind it and what you

think it signifies.

Genesis has a history of developing concept vehicles for auto shows and events,

and it's not just to take vehicles to events or find something to bring with us.

These are really venues that we use to test if Lindsay likes it,

our public days, if consumers like it, what the comments are,

and sometimes we build the car.

Sometimes we take elements of the car and incorporate it or integrate it into a future

product, and sometimes the design language is hinting at the direction that we're going to

be going down in the near term for the Genesis brand.

Is any of that been decided yet for the wingback concept?

How that may appear?

Well, we're still waiting to hear what you have to say.

We don't know.

I mean, it's something that we're considering seriously, and we'll see what public feedback

is, and then, of course, we have to see if the business model works to bring it into

market.

Again, not just for the United States where Genesis is sold internationally, so maybe

it's more applicable in other markets or maybe it's applicable here, so we'll see.

What's the vision behind it in developing that concept?

What were some of the things, the ideas that you wanted to convey?

Well, if you look at it, it's something different, right?

We don't see a lot of wagons in the United States.

So it's just something that's fresh.

It's different.

It has this confidence stance about it.

It's got 22-inch rims on a wagon.

It's a 2 plus 2.

So it's also really allowing our designers the freedom to go out and explore uncharted

territory and see what they could do in a segment that already exists.

So it's to keep that creativity flowing and, at the same time, bring something fresh and

new to the public that they've never seen.

You're trying to grow the brand, consideration, increase sales here in the US and globally.

What does that look like for you as far as that strategy goes?

And what have you seen really as far as consideration growing among maybe older

buyers, younger buyers?

Where have you seen some of that growth?

So yeah, we've been around for 10 years.

If you think about it, even five years ago in 2020, we sold 16,000 cars.

In 2025, we sold 80,000 cars.

Quite a tremendous growth for the Genesis brand.

Our strategy is rooted in really one word, one cornerstone for the brand,

which is so nim, which means honored guest.

And what does that mean to us?

Well, how do you treat an honored guest in your home?

One, you try to know everything about them before they arrive.

When they do, you want them to come in.

You want to greet them.

You want to welcome them in.

You want to make them feel comfortable.

You want to anticipate what they might want that they maybe don't share with you

or don't voice to you and surprise them and delight them.

And that's what we try to do with all of our vehicles.

And our strategy is to deliver that level of care to our customers in what is a very

beautiful vehicle to win their hearts and minds.

And that wrapped around quality, durability, safety.

All of our vehicles have had IIHS top safety pick plus and a level of care after the purchase

that maybe they haven't ever received anywhere else is really the strategy we

deploy to grow our brand.

And you've talked about that growth incremental, I guess to the degree that you're not looking

to be a full line brand right off the bat.

You're trying to pick the spaces where your customers are going to be and the kinds of

segments that they want.

How are you approaching growth in that space?

Are there other white space opportunities out there that you'd like to get into?

Or you think you could be in?

And how are you approaching growing the lineup?

Yeah.

In the 10 years we've been around, we're the fastest luxury brand to grow to a million

units in 10 years in the history of automotive.

But it was done strategically with the models we picked to enter the market.

If you look at our lineup right now, we're still in a lot of segments.

We don't compete in a lot of segments still today.

That means there's still opportunity to enter segments that we're not in and compete.

And ideally do well at them.

Is there white space segments to create?

Maybe.

But it really comes down to what do we see in the market?

Whether it's in the United States, Europe, or wherever it may be.

And what are their unmet needs that we could fill?

And maybe that's a white space segment or product.

Maybe it's a segment that we don't compete in that we feel we could do well in.

So all of that's on the table.

And we go through that strategic planning process multiple times per year.

And that's today that Genesis, I believe, is getting 22 new models by the end of the decade.

So you do see there is growth coming.

You do see an opportunity there.

And can you talk a little bit more about what that now to 2030 road map looks like and what

that's going to mean?

Yeah.

And remember, those 22, the message that Jose shared today on 22 vehicles coming into

market by 2030 is not only new product, but also new powertrains, new trim levels,

and things of that nature.

So when you look at other announcements that we have made at Genesis,

as an example for propulsion systems, we've already announced that we will have ice

petrol engines, we will have hybrid vehicles, we will have extended range electric vehicles,

and we'll have battery electric vehicles.

Maybe not all four will be in a single model.

Maybe there will be, but we'll have all the propulsion systems.

So in that 22, you can imagine new powertrains, new engines, new trim levels.

We just announced the GV70 Prestige Graphite coming in on board.

This past year, we also announced the GV80 Prestige Black, GV80Cube, G80, G90.

So you're going to see a lot more variants coming into market.

Magma proliferating through our other models.

So that should tell you that there's just a lot of activity happening at Genesis.

We're investing quite heavily in the brand to continue our growth.

Do you see that as those 22 being entirely new name plates, or would that 22 be maybe an EV

and a hybrid version of the same name plate would be counted as two separate?

Correct.

It could be different powertrain offerings.

It could be different trim levels being offered on models.

And it could be also a new name plate.

Okay.

So not necessarily that you'll have 22 name plates to Genesis.

Oh my gosh, wouldn't that be quite challenging to pull off?

But there are name plates we will be bringing in because, as I said,

there's a number of segments we don't compete in today that we plan on competing in.

You know, you talked about that multi powertrain strategy,

and that's been something that the Hyundai Group has really emphasized.

And we've seen a lot of growth, especially with hybrids over the last few years.

Knowing that the EV market in the US right now is uncertain and still evolving after the loss

of the tax credit, it's put a lot of things, I think, in flux.

And so how are you thinking about electrification and where you need to be,

you know, electric, where you need to be hybrid, and kind of how you think about that in totality?

How we deploy those powertrains by model will take a lot of work and analysis,

and discovery on who's that customer in that segment, and how do they use their vehicle,

and what is the powertrain best suited for that customer, and we'll go from there.

But then at the same time, I think you can find a Bev customer in every segment.

You can find an ICE customer in every segment, because that's where we started,

or a hybrid, or an E-Ref. I'll use my wife as an example.

She didn't know she liked EVs until she drove one,

and she will never go back to petrol, which is amazing to me.

She just doesn't like stopping at gas stations. I don't think she knew she didn't like

stopping at gas stations until she didn't have to anymore.

And I think there's a lot of customers of the same mindset that just drove EV once,

and that was it for them, and they exist in every segment. But the trick is then,

you know, putting four powertrains in one model gets to be quite complicated,

and it's where are the majority of the customers leaning in that segment for the powertrain,

and we go from there.

Genesis Motor North America, COO Ted Mingustay,

spoke with our own Lindsey Van Hully at the New York International Auto Show.

That's Daily Drive for today. I'm Kellan Walker.

Thanks to automotive news executive producer Jake Nier,

as well as our own Hans Grimel and Richard Truett for their reporting for today's podcast.

You can get the latest news on Genesis' growth strategy,

Kia's pickup plans, and everything happening in the auto industry at AutoNews.com.

We'd love to hear from you. Let us know what you think of the show and the topics we cover today.

Send us an email at dailydrive at autonews.com or leave us a voicemail at 313-444-2774.

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April 9, 2026 | Genesis COO Ted Mengiste on Magma line; Kia gets into pickups

About this episode

pricing precision with real shopper data

AI-powered vehicle descriptions

V-Auto

Cox Automotive

90,000 trucks a year and 7% of the segment by 2034

doubling down on hybrids

high tariffs

Kia

Toyota

Ford

supply chain complexity

reduce their labor bill

Genesis

margins are tighter

Magma performance line

torque and horsepower

a little shot of adrenaline

concept vehicles

wingback concept

22-inch rims

brand consideration

honored guest

grow the lineup

unmet needs

new trim levels

G90

G80

GV80 Prestige Black

name plate

Bev customer

ICE customer

EV

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