Here is a write-up on Tarun Garg’s appointment as the new MD & CEO of Hyundai India (with the latest available information as of mid-October 2025):
Tarun Garg Named New MD & CEO of Hyundai India
On October 15, 2025, Hyundai Motor India announced that Tarun Garg will assume the role of Managing Director & Chief Executive Officer, starting January 2026. This marks a historic milestone for Hyundai’s Indian operations, as Garg will be the first Indian executive to lead the company’s local business.
He succeeds Unsoo Kim, who has led Hyundai India since 2022 and is set to return to the parent company in South Korea to take up a strategic role.
Alongside this leadership transition, Hyundai unveiled a massive investment plan for India: ₹450 billion (approximately USD 5.07 billion) through fiscal year 2030, with about 60% earmarked for research & development and the remainder for capacity enhancement and product upgrades. The company is also targeting 11–14% core earnings margins and ~7% annual domestic sales growth over the next five years.
Background & Career Trajectory
Early Career & Maruti Suzuki
Tarun Garg is a seasoned automotive industry executive with more than two decades of experience. Before joining Hyundai, he spent a long tenure at Maruti Suzuki (starting in 1994), where he held various leadership roles in sales, marketing, logistics, and the used car business (TrueValue).
He also served as Executive Director for Marketing, Parts & Logistics at Maruti Suzuki before making a transition to Hyundai.
Entry into Hyundai & Rise Within
Garg joined Hyundai Motor India on 4 December 2019 as Director — Sales, Marketing & Service. In that role, he oversaw core functions such as sales planning, service operations, dealer management, and network development.
Effective 1 January 2023, Garg was elevated to Chief Operating Officer (COO) of Hyundai Motor India. In that capacity, he took on responsibility for sales, marketing, service, and product strategy across the Indian operations.
He also holds a position as a Whole-Time Director on Hyundai India’s board.
Educationally, Garg is an alumnus of the Delhi College of Engineering (mechanical engineering) and holds an MBA from the Indian Institute of Management, Lucknow.
What Garg’s Leadership Signals
Local Leadership & Indian Identity
By appointing Tarun Garg — an Indian national with deep experience in the country’s auto sector — Hyundai India underscores its intention to strengthen its Indian identity and responsiveness to local markets. Making the first Indian MD & CEO reflects confidence in local leadership and may resonate positively with stakeholders, employees, and customers.
Aggressive Investment & Growth Ambition
Garg takes charge at a critical juncture. Hyundai’s ₹450 billion investment plan through FY2030 reveals the scale of its commitment to India. The focus on R&D, capacity expansion, and product upgrades underscores that Hyundai views India not just as a sales market but as a strategic hub for innovation and manufacturing.
The targets of 7% annual sales growth and double-digit core margins reflect an ambition to increase both scale and profitability.
Continuity in Transformation: EVs, Safety & Innovation
Under his COO tenure, Garg had already been outspoken on several key priorities:
- Safety: Garg advocated for “Safety for All” and pushed for making six airbags standard across Hyundai’s models in India.
- Electrification & Charging Infrastructure: He has highlighted Hyundai’s efforts to expand public fast-charging infrastructure, with a target of ~600 public charging stations (72 already operational), and signed MoUs with states (e.g., Tamil Nadu) to deploy charging networks.
- Hydrogen & Alternative Drives: Garg also supports investment in hydrogen R&D — e.g., Hyundai’s collaboration for a Hydrogen Innovation Centre at IIT Madras’s Thaiyur campus.
- Communication & Culture: In interviews, Garg emphasizes transparent communication, inclusive leadership, and involving team members in decision-making.
These priorities are expected to carry forward under his tenure as MD & CEO, especially emphasizing the allocation of R&D funds in Hyundai’s new investment roadmap.
Challenges & Opportunities Ahead
- Managing Transition: Garg will need to ensure a smooth handover from Kim and maintain momentum across operations and investor confidence, especially after Hyundai India’s high-profile IPO in 2024.
- Delivering on Ambitious Targets: The growth, margin, and investment targets are ambitious — meeting them will require operational discipline, cost control, and strong execution across product cycles.
- Balancing ICE & EV Strategy: India’s EV transition is accelerating, but is still nascent. Garg will need to balance the growth of internal combustion engine (ICE) vehicles, hybrids, EVs, and potentially hydrogen solutions.
- Scaling R&D Locally: Given that ~60% of the capital outlay is slated for R&D, building or scaling local capabilities, attracting talent, and integrating global best practices into India’s engineering base will be vital.
- Competitive Landscape: Hyundai competes with strong global and local players (Maruti Suzuki, Tata Motors, MG, etc.). Under Garg, Hyundai India must differentiate via product, brand, safety, and technology.