Hyundai Motor India Limited (HMIL) has announced the appointment of Tarun Garg as its new Managing Director and Chief Executive Officer, effective January 1, 2026, pending shareholder approval. This marks a significant milestone, as Garg becomes the first Indian national to lead the company since its establishment in 1996.
Currently serving as the Whole-Time Director and Chief Operating Officer, Garg has been instrumental in Hyundai’s growth in India. His tenure includes leadership roles in sales, marketing, and service, contributing to the company’s strong market presence. Prior to joining Hyundai in 2019, Garg spent over two decades at Maruti Suzuki India Limited, where he held various senior positions.
Garg’s elevation underscores Hyundai’s confidence in Indian leadership and the country’s strategic importance in the global automotive landscape. He succeeds Unsoo Kim, who has led HMIL since 2022 and will return to a strategic role at Hyundai Motor Company in South Korea.
In conjunction with the leadership change, Hyundai unveiled a ₹45,000 crore ($5.07 billion) investment plan for fiscal years 2026–2030. Approximately 60% of this investment will be directed towards research and development, with the remainder allocated for product upgrades and capacity expansion. The company aims for a core earnings margin of 11–14% and a 7% compound annual growth rate in domestic sales over the next five years.
Under Garg’s leadership, Hyundai plans to introduce 26 new models and upgrades by FY 2029–30, including six electric vehicles and 20 internal combustion engine models. This strategic roadmap aims to strengthen Hyundai’s position in the evolving Indian automotive market.
The appointment and investment plans were announced ahead of Hyundai Motor India’s first investor day since its market debut, reflecting the company’s commitment to innovation and growth in one of its key global markets.
