Hyundai India Appoints Tarun Garg as First Indian MD & CEO; Unveils ₹45,000 Crore Growth Roadmap

In a landmark shift for the Indian automotive sector, Hyundai Motor India Limited (HMIL) has officially announced that Mr Tarun Garg has assumed the role of Managing Director and Chief Executive Officer, effective 1 January 2026.

This appointment marks a historic milestone as Mr Garg becomes the first Indian national to lead the company since its inception 29 years ago.

A Proven Leader for the Next Phase of Growth Mr Garg is a seasoned veteran with over 32 years of experience in the automotive industry.

Before this elevation, he served as HMIL’s Chief Operating Officer and Whole-time Director, where he was instrumental in driving the company to record-breaking sales for three consecutive years.

Notably, he played a pivotal role in executing the largest IPO in the history of Indian equity markets in 2024 and securing Hyundai’s leadership in the SUV segment. His professional pedigree includes a significant tenure at Maruti Suzuki and academic credentials from Delhi Technological University and IIM Lucknow.

The ₹45,000 Crore Roadmap For investors and market watchers, the most striking aspect of this transition is the scale of Hyundai’s future commitment. Under Mr Garg’s stewardship, the company is set to embark on a ₹45,000 crore investment roadmap scheduled through to FY 2030. This strategic capital expenditure will focus on:

• Future-Ready Mobility: Accelerating the development of Electric Vehicles (EVs), hybrids, and connected mobility.
• ‘Make in India’ for the World: Deepening indigenisation and positioning India as a primary export hub for emerging global markets.
• Operational Excellence: Strengthening dealer networks and enhancing customer-centric digital experiences.

Strategic Significance This leadership change signals Hyundai Motor Group’s immense confidence in India’s growing strategic importance within the global automotive landscape.

Mr Garg stated that his vision is to accelerate HMIL’s transformation towards technological leadership and sustainable growth while aligning with the global vision of “Progress for Humanity”. With a focus on profitability and EBITDA margins already established during his time as COO, the market will be watching closely as he steers the company into this ambitious second phase of growth.

Signed by: Pradeep Chugh, Company Secretary & Compliance Officer. Disclosure: This report is based on a Press Release submitted by Hyundai Motor India Limited to the National Stock Exchange of India Limited and BSE Limited.

Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.

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