Hyundai Motor India has announced a significant leadership change, appointing Tarun Garg as its new Managing Director and CEO, effective January 1, 2026. This decision, made by the board on October 14, marks a new chapter for the automaker's Indian operations.

Leadership Transition

Garg, currently serving as a whole-time director at Hyundai Motor India, will succeed Unsoo Kim, who is set to return to South Korea for a strategic role at Hyundai Motor Company. This transition represents a shift from expatriate to local leadership for the Indian subsidiary.

Tarun Garg's Background

Tarun Garg brings a wealth of experience to his new role:

• MBA from IIM Lucknow | | Previous Experience | Over 25 years at Maruti Suzuki in various roles | | Hyundai Career | - Joined in December 2019 as Director of Sales, Marketing and Services
• Promoted to Chief Operating Officer in January 2023 |

Key Achievements at Hyundai

During his tenure at Hyundai Motor India, Garg has made significant contributions:

1. Introduced Advanced Driver Assistance Systems (ADAS) in nine models
2. Led initiatives in sales strategies and digital marketing
3. Spearheaded business expansion into rural markets
4. Developed the used car segment

This appointment reflects Hyundai's commitment to leveraging local talent and expertise in its leadership roles. Garg's extensive experience in the Indian automotive sector, combined with his recent years at Hyundai, positions him well to lead the company's operations in India's automotive market.

As Garg prepares to take the helm, the industry will be watching closely to see how his leadership shapes Hyundai's strategy and performance in the competitive Indian market.

Hyundai Motor India has announced a comprehensive growth strategy, including a substantial ₹45,000 crore (₹450 billion) investment through FY2030, aiming to significantly expand its presence in the Indian market. The company revealed these plans during its first Investor Day in Mumbai, emphasizing India's central role in Hyundai's global strategy.

Investment and Growth Targets

Hyundai's ambitious plans aim to more than double its current revenue by FY30, showcasing a strong growth trajectory over the next several years.

Strategic Focus Areas

The ₹45,000 crore investment will be directed towards:

• Product expansion
• Research and Development (R&D)
• Manufacturing capabilities
• Hiring engineers

Product Strategy

Hyundai plans to launch 26 new products by 2030, including:

• Seven new nameplates
• An MPV (Multi-Purpose Vehicle)
• An off-road SUV
• India's first locally manufactured dedicated electric SUV (by 2027)
• Introduction of the luxury brand Genesis (in 2027)
• Eight hybrid models (comprising 16.00% of the product portfolio)

The company is targeting a 52.00% eco-friendly product mix, including EVs and CNG vehicles, by 2030.

Export Ambitions

Hyundai aims to become the largest vehicle exporter from India, with exports expected to contribute up to 30.00% of total output by 2030.

Technological Advancements

The company is developing a new 1.2-litre turbo-petrol engine for hybrid applications, expected to debut in the Bayon crossover and later in i20, Venue, and next-generation Creta models.

Leadership Transition

Hyundai Motor India is undergoing a leadership change:

• Mr. Unsoo Kim, the current Managing Director, will return to South Korea by December 31, 2025.
• Mr. Tarun Garg will succeed as the Managing Director & CEO from January 1, 2026, subject to shareholder approval.

As Hyundai Motor India embarks on this ambitious journey, the company appears well-positioned to capitalize on the growing Indian automotive market.