Hyundai India: Tarun Garg to Become First Indian MD and CEO, Effective January 2026

Hyundai Motor India has ambitious plans to introduce 26 new models between FY2026 and FY2030, including seven new vehicles, six full model changes, and several updates. This expansion aims to strengthen its presence in the Indian market, particularly in the growing SUV segment, and enhance its market share to over 15%.

Hyundai Motor India aims to increase its export share from 21% to 30% of total production by 2030. This goal is supported by the commissioning of its Talegaon manufacturing facility and a high localization rate of around 81%, which they plan to raise to 90%. This strategy aligns with their commitment to making India a key global manufacturing hub.

Hyundai has outlined a substantial investment plan of Rs 45,000 crore in India, focusing on product development, localization, and electrification initiatives. This investment reflects India's strategic importance in Hyundai's global operations and aims to position India as a manufacturing and export hub while enhancing the company's competitiveness in the market.

Hyundai plans to launch a locally designed, developed, and manufactured electric SUV in India by 2027, which will be a crucial part of its wider electric vehicle strategy. This model is expected to cater to the growing demand for electric vehicles in India and support Hyundai's commitment to sustainable mobility.

Hyundai recognizes India's improving infrastructure, scale, and maturing supplier ecosystem as key competitive advantages. These factors make India an attractive base for global automakers to diversify supply chains, especially amid geopolitical uncertainties. Hyundai's localization efforts and the quality of Indian auto components further enhance its competitiveness.