By WAF Think Tank
In a landmark move that underscores Hyundai’s confidence in its Indian leadership, Tarun Garg has been appointed as the Managing Director & Chief Executive Officer (MD & CEO) of Hyundai Motor India Limited (HMIL). The appointment marks the first time an Indian executive will helm the local operations of the Korean automaker.
A Historic Leadership Transition
Tarun Garg will assume the MD & CEO role in January 2026, succeeding Unsoo Kim, who led the company through its high-profile IPO and will return to the Hyundai Motor headquarters in South Korea for a strategic role.
This move is significant not only symbolically but strategically. Under Kim’s leadership, Hyundai Motor India undertook a successful ₹3.3 billion IPO in 2024 — the largest in India at that time.
Anuj Guglani, CEO, World Auto Forum said,’With Tarun Garg’s appointment, Hyundai signals a pivot toward more localised leadership in India — harnessing homegrown talent to drive India-specific strategies, expansion plans, and innovation.’
So Who Is Tarun Garg?
Educational & Professional Background
-
Garg holds a mechanical engineering degree from the University of Delhi, and an MBA from the Indian Institute of Management, Lucknow.
-
Before joining Hyundai, Garg had a long tenure (25+ years) with Maruti Suzuki, where he handled marketing, sales, parts, logistics, and used car business units.
-
He joined Hyundai Motor India on 4 December 2019 as the Director of Sales, Marketing & Service.
-
On January 1, 2023, he was elevated to Chief Operating Officer (COO), overseeing Sales, Marketing, Service, and Product Strategy — while also serving as a Whole-time Director on the HMIL board.
As COO, Garg has been actively engaged in charting the Indian business strategy, product launches, dealer network expansion, and EV infrastructure development.
What the Appointment Means for Hyundai India
1. Stronger Localisation & Strategic Autonomy
With an Indian leader at the top, Hyundai Motor India could gain even more leeway to tailor strategies to domestic market dynamics — from product mix and pricing to sales channels and regulatory responses.
2. Continuity Meets Renewal
Garg has been part of Hyundai’s executive team for several years, ensuring continuity of vision. At the same time, he brings fresh energy to lead the company into its next growth phase, especially in EVs and R&D investments.
3. Big Investment & Growth Ambitions
Alongside Garg’s appointment, Hyundai has unveiled a ₹45,000 crore (USD ~5.07 billion) investment plan through FY2030, focusing on manufacturing capacity expansion, upgrades, and R&D (60 % of the funds).
The company has set ambitious targets:
-
11%–14% core earnings margin
-
~7% compound annual growth rate in domestic sales over the next five years
4. EV & Mobility Focus
Garg has already shown a strong commitment to EV strategy: HMIL is targeting nearly 600 public EV fast-charging stations over the next seven years, and already has 72 operational.
As CEO, his leadership in this domain could be decisive in how Hyundai India competes in the rapidly shifting EV landscape.
Challenges & Opportunities Ahead
Challenges:
-
Competitive Intensity: The Indian passenger vehicle market is highly competitive, with global and domestic OEMs pushing aggressively into EVs, SUVs, and connected mobility.
-
Supply Chain & Cost Pressures: Managing input inflation, semiconductor constraints, and localization demands will require nimble planning.
-
Regulatory & Policy Shifts: Navigating evolving policies on emissions, EV incentives, localization, and safety norms.
Opportunities:
-
EV Market Growth: India’s EV adoption curve is accelerating, and Hyundai, under Garg’s leadership, can aim for a stronger share.
-
R&D & Technology Leadership: With a strong allocation toward R&D in the new investment plan, the firm can innovate in software, autonomy, battery tech, and connected services.
-
Brand Positioning & Safety: Garg’s advocacy for safety (“six airbags standard across models”) suggests a push toward premium positioning, even in volume segments.
Anuj Guglani, CEO, WAF further added,’Tarun Garg’s elevation to MD & CEO of Hyundai Motor India marks not just a leadership change but possibly a strategic inflection point. As the first Indian to lead the local operations, his tenure could define how aggressively Hyundai plays in India’s EV transition, manufacturing expansion, and technology leadership. With vast experience, deep domain knowledge, and strong investor backing, Garg inherits both a legacy and a mandate to chart the next chapter in Hyundai India’s growth story.’
