In a historic decision, Hyundai Motor India today appointed Tarun Garg as its new Managing Director & Chief Executive Officer, with effect from January 1, 2026.
This marks the first time an Indian executive will lead Hyundai’s operations in India. Garg replaces Unsoo Kim, who has helmed the company since 2022 and is expected to return to the parent company in South Korea in a strategic role.
Background & Responsibilities
Tarun Garg is an industry veteran with years of experience in the Indian auto sector, having worked in top positions in Maruti Suzuki prior to Hyundai. He has recently been working as Chief Operating Officer (COO) at Hyundai India, guiding critical functions such as sales, marketing, service, product strategy, and dealer management.
In his new assignment, Garg will oversee Hyundai India’s strategic direction, driving growth and profitability, product innovation, and operational integration with the parent’s international vision.
Strategic Vision & Investment Outlook
Concomitant with the leadership announcement, Hyundai Motor India has announced an unprecedented investment plan of ₹45,000 crore (approx. US$5.07 billion) up to fiscal year 2030. The investment is for:
Increasing manufacturing capacity
Increasing research & development capabilities
Improving product upgrades and innovation
About 60% of the proceeds will go towards R&D, with the remaining amount utilized for capacity growth and product development.
Hyundai India anticipates realizing core earnings margins between 11–14% from 2026–2030, and realizing a compound annual growth rate (CAGR) of 7% in local sales from the same period.
Market Context
Hyundai Motor India is one of the leading global automobile manufacturers in the nation, operating in a highly competitive environment. The change in leadership reflects a greater emphasis on localization, product differentiation, and tapping into Indian leadership in its strategy for growth.
Reaction and Outlook
The appointment has been seen as a strategic gamble on local leadership and greater market insight. Watchers in the industry believe Garg’s extensive experience in domestic and international operations will enable Hyundai India to steer through challenges like shifting consumer needs, electrification, regulatory changes, and supply chain uncertainty.
Garg, in statements made to the media, reflected that Hyundai India would step up its strategy toward new mobility solutions, electric vehicle adoption, and innovation in the years to come.
