Big development for Hyundai Motor India. The share price of Hyundai jumped over 2% intra-day after the company unveiled $5 billion investment plan and named Tarun Garg as its new MD and Chief Executive Officer.
Tarun Garg to head Hyundai India operations
Garg is the first Indian to lead the South Korean automaker’s operations in India and will assume the role of Managing Director and CEO in January 2026.
Garg was associated with Hyundai for the past six years. Garg will succeed Unsoo Kim, who has led Hyundai Motor India since 2022 and will return to South Korea at the end of the year to assume a strategic role at the parent company, Hyundai Motor. A Hyundai veteran since 1991, Kim oversaw the automaker’s landmark $3.3 billion IPO in 2024, the largest public offering in India to date.
An IIM Lucknow alumnus, Garg was associated with Maruti Suzuki for a long time before joining Hyundai. He began as a management trainee, mastering the areas of logistics and sales planning, and progressively advanced through a series of key roles. He held roles such as Regional Sales Manager, Commercial Business Head, National Sales and Network Head and ultimately, Executive Director of Marketing, Logistics, Parts and Accessories.
Hyundai Motor India’s $5 billion investment
The company has also unveiled a $5 billion investment plan to expand manufacturing and research capacity. Hyundai Motor India made the announcements ahead of its first investor day since the company’s initial public offering (IPO) last year.
The company plans to invest Rs 45,000 crore ($5.07 billion) by FY30 to boost capacity and strengthen research and development, allocating approximately 60% of the funds to R&D and the remainder toward product upgrades and capacity expansion.
It also aims for double-digit core earnings margins of 11–14% between FY26-FY30 and projects a 7% compound annual growth rate in domestic sales over the next five years.