Beginning in January 2026, Hyundai Motor India has appointed Tarun Garg as its new Managing Director and CEO. This is the first time an Indian would be in charge of the company’s local operations.
Significant progress for Hyundai Motor India. Following the announcement of Hyundai’s $5 billion investment plan and the appointment of Tarun Garg as its new MD and CEO, the company’s share price surged by more than 2% within a single day.
Tarun Garg will lead Hyundai’s business in India
In January 2026, Garg, who is the first Indian to head the South Korean automaker’s operations in India, would take over as Managing Director and Chief Executive Officer.
Garg spent the previous six years working for Hyundai. At the end of the year, Garg will travel to South Korea to take on a strategic position at the parent firm, Hyundai Motor, replacing Unsoo Kim, who has been in charge of Hyundai Motor India since 2022. Kim, who has worked for Hyundai since 1991, was in charge of the company’s historic $3.3 billion IPO in 2024, which was the biggest offering in India at the time.
Garg, a graduate of IIM Lucknow, spent a considerable amount of time working for Maruti Suzuki before joining Hyundai. He started off as a management trainee, becoming an expert in sales planning and logistics, and then progressed through many important positions. Prior to becoming Executive Director of Marketing, Logistics, Parts, and Accessories, he held positions as Regional Sales Manager, Commercial Business Head, National Sales and Network Head, and others.
The $5 billion investment made by Hyundai Motor India
Additionally, the business has announced a $5 billion investment plan to increase its capacity for research and production. Prior to its first investor day since the company’s initial public offering (IPO) last year, Hyundai Motor India announced the announcements.
By FY30, the business intends to spend Rs 45,000 crore ($5.07 billion) to improve research and development (R&D) and increase capacity. R&D would get around 60% of the investment, with the remaining portion going toward product upgrades and capacity growth.
Additionally, it anticipates a 7% compound annual growth rate (CAGR) in domestic sales over the next five years and targets double-digit core profit margins of 11–14% between FY26 and FY30.