Hyundai Motor India on Wednesday named Tarun Garg as its new chief executive officer, marking the first time an Indian will lead the automaker’s local operations. The announcement coincided with the unveiling of a $5 billion investment plan aimed at expanding the company’s manufacturing and research capabilities.
Garg will assume charge as managing director and CEO in January 2026, succeeding Unsoo Kim, who has headed Hyundai Motor India since 2022. The company said Kim will return to South Korea by the end of the year to take up a strategic role at Hyundai Motor Co.
Shares of Hyundai recovered from losses and were up 2.58% on BSE as of 12:08 pm on Wednesday.
A Hyundai veteran since 1991, Kim oversaw the automaker’s landmark $3.3 billion initial public offering in 2024 — the largest in India’s history.
The South Korean automaker, which entered India in 1996, is the country’s second-largest carmaker after Maruti Suzuki, with popular models such as the Creta, Venue, and i20.
The company made the announcements ahead of its first investor day since its market debut last year. Hyundai’s shares, which have gained about 33% in 2025, traded largely steady on Wednesday.
Hyundai said it will invest Rs 45,000 crore ($5.07 billion) by fiscal 2030 to increase production capacity and strengthen research and development. Around 60% of the funds will be allocated to R&D, while the rest will go toward product upgrades and capacity expansion.
The company also set a target of achieving double-digit core earnings margins between 11% and 14% for fiscal years 2026 to 2030 and projected a 7% compound annual growth rate in domestic sales over the next five years.
(With inputs from Reuters)
Garg will assume charge as managing director and CEO in January 2026, succeeding Unsoo Kim, who has headed Hyundai Motor India since 2022. The company said Kim will return to South Korea by the end of the year to take up a strategic role at Hyundai Motor Co.
Shares of Hyundai recovered from losses and were up 2.58% on BSE as of 12:08 pm on Wednesday.
A Hyundai veteran since 1991, Kim oversaw the automaker’s landmark $3.3 billion initial public offering in 2024 — the largest in India’s history.
The South Korean automaker, which entered India in 1996, is the country’s second-largest carmaker after Maruti Suzuki, with popular models such as the Creta, Venue, and i20.
The company made the announcements ahead of its first investor day since its market debut last year. Hyundai’s shares, which have gained about 33% in 2025, traded largely steady on Wednesday.
Hyundai said it will invest Rs 45,000 crore ($5.07 billion) by fiscal 2030 to increase production capacity and strengthen research and development. Around 60% of the funds will be allocated to R&D, while the rest will go toward product upgrades and capacity expansion.
The company also set a target of achieving double-digit core earnings margins between 11% and 14% for fiscal years 2026 to 2030 and projected a 7% compound annual growth rate in domestic sales over the next five years.
(With inputs from Reuters)
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