Leadership change at Hyundai Motors: Tarun Garg named CEO of India arm; $5 billion investment plan unveiled

Hyundai Motor India introduced on Wednesday the appointment of Tarun Garg as its new chief govt officer, establishing a historic milestone as the primary Indian to guide the corporate’s operations within the nation. The announcement was made alongside the disclosure of a $5 billion investment technique for enhancing manufacturing and analysis services.Taking over from Unsoo Kim in January 2026, Garg will function managing director and CEO. Kim, who has led Hyundai Motor India since 2022, will transition to a strategic place at Hyundai Motor Co. in South Korea earlier than year-end.Following the announcement of the management change, Hyundai shares reversed earlier declines, rising 2.58% on BSE at 12:08 pm.Kim, who joined Hyundai in 1991, led the corporate by means of its important $3.3 billion preliminary public providing in 2024, which stands as India’s largest IPO up to now.Since its entry into India in 1996, the South Korean car producer has established itself because the second-largest carmaker within the nation after Maruti Suzuki, providing profitable fashions together with the Creta, Venue, and i20, in keeping with ET.The firm revealed these developments throughout its inaugural investor day following its market itemizing final 12 months. Hyundai’s shares, which have elevated by roughly 33% in 2025, remained secure on Wednesday.Hyundai revealed plans to take a position Rs 45,000 crore ($5.07 billion) by means of fiscal 2030 to spice up manufacturing capability and improve analysis and growth. The investment allocation consists of 60% for R&D, with the rest designated for product enhancements and capability enlargement.The organisation has established targets to attain core earnings margins between 11% and 14% for fiscal years 2026 to 2030, while projecting home gross sales to develop at a 7% compound annual charge over the following 5 years.