Hyundai Motor India has appointed Tarun Garg as its next Managing Director and CEO, marking a historic first with an Indian executive set to lead the automaker’s
operations in the country. The announcement comes as part of a broader strategic vision revealed ahead of the company’s inaugural investor day since its blockbuster IPO last year. Alongside the leadership announcement, the company also announced a $5 billion investment plan aimed at boosting its manufacturing capabilities and strengthening its research and development infrastructure, according to a Reuters report. Garg will officially take the reins in January 2026, succeeding Unsoo Kim, who has headed Hyundai’s Indian operations since 2022. Kim is set to return to South Korea by the end of 2025 to take on a strategic role at Hyundai Motor Company, the automaker’s global parent. A company veteran since 1991, Kim played a pivotal role in Hyundai Motor India’s $3.3 billion initial public offering in 2024, the largest in Indian market history. A Major Investment Push for Growth Alongside the leadership transition, Hyundai Motor India announced an ambitious Rs 45,000 crore ($5.07 billion) investment plan to be executed by FY2030. The funds will be split with approximately 60 per cent dedicated to research and development, while the remaining 40 per cent will support capacity building and product upgrades. The investment underscores the company’s focus on innovation, localisation, and long-term competitiveness in one of the world’s fastest-growing automobile markets, states the report. Financial and Market Ambitions Hyundai aims to maintain strong financial performance with targeted core earnings margins of 11 per cent to 14 per cent between FY26 and FY30. The company is also projecting a 7 per cent compound annual growth rate in domestic sales over the next five years. Since entering the Indian market in 1996, Hyundai has grown to become the second-largest carmaker in the country, with popular models like the Creta, Venue, and i20 solidifying its footprint. Hyundai Motor India’s stock, which has surged nearly 32 per cent since its 2024 debut, has climbed 33 per cent so far in 2025 and remained largely unchanged on Wednesday following the announcements. About Traun Garg Tarun Garg, who joined Hyundai Motor India six years ago, brings extensive experience from his previous tenure at Maruti Suzuki, where he held several senior leadership roles. His appointment signals a strong vote of confidence in local leadership as Hyundai looks to deepen its roots in India and scale up its innovation-led strategy for the future.
