Hyundai Motor India appoints Tarun Garg as CEO, unveils $5 billion investment plan

Hyundai Motor India has named Tarun Garg as CEO effective January 2026 — its first Indian chief — replacing Unsoo Kim. The company simultaneously announced a $5.07 billion investment through 2030, focusing on EV manufacturing capacity, R&D, and component localization. The plan targets a 7% domestic sales CAGR and 11-14% core margins. Hyundai plans to launch six EV models and expand its Chennai and Talegaon plants. Analysts see the leadership shift as a strategic move to deepen India operations and fortify EV competitiveness. Source: Reuters / ET