Hyundai Motor India Ltd (HMIL) has named Tarun Garg as its next Managing Director and Chief Executive Officer, marking a milestone as the first Indian to head the South Korean automaker’s operations in the country.
Tarun, currently the Whole-Time Director and Chief Operating Officer, will officially assume his new responsibilities on January 1, 2026, pending shareholder approval.
His appointment follows Hyundai’s decision to elevate internal leadership talent, underscoring the brand’s growing confidence in its Indian management base.
Leadership Transition and Strategic Focus
Tarun will succeed Unsoo Kim, who has steered the company since 2022 and is set to return to South Korea by the end of this year to take a strategic role at Hyundai Motor Co.
His promotion is widely seen as a recognition of his instrumental role in Hyundai Motor India’s successful 2024 IPO and sustained market performance.
In a statement, he expressed gratitude for the company’s trust and emphasized his intent to strengthen Hyundai’s market leadership amid India’s evolving automotive landscape, noting that the sector is in a “dynamic phase of transformation.”
Hyundai India, which entered the market in 1996, remains the second-largest carmaker in India, following Maruti Suzuki. Iconic models such as the Creta, Venue, and i20 continue to anchor its domestic dominance.
Vision 2030: Investment and Growth Ambitions
In conjunction with the leadership announcement, Hyundai Motor India unveiled fresh investment plans worth ₹450 billion ($5.07 billion) through fiscal 2030.
Approximately 60% of this capital will be directed toward research and development, with the remainder allocated to expanding production capacity and upgrading products.
The company aims to achieve double-digit core earnings margins between 11–14% from fiscal 2026 to 2030, while targeting a 7% CAGR in domestic sales over the next five years.
The announcement came ahead of Hyundai India’s first investor day since its market debut, with shares gaining around 33% in 2025, reflecting investor confidence in the company’s leadership transition and long-term growth outlook.
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