Hyundai Motor India has appointed Tarun Garg as its new Chief Executive Officer (CEO), marking the first time an Indian will lead the company’s operations. The announcement coincides with Hyundai’s unveiling of a massive $5 billion (around ₹41,800 crore) investment plan for India over the next decade, focusing heavily on electric vehicles and manufacturing expansion. Garg, who previously served as the Chief Operating Officer (COO), succeeds Unsoo Kim, who will take on a new role at Hyundai’s headquarters in Seoul, South Korea.
Key Takeaways
- New Leadership: Tarun Garg, former COO, is promoted to CEO of Hyundai Motor India.
- Major Investment: The company will invest $5 billion in India over the next ten years.
- EV Focus: The funds will go toward boosting EV production, launch new models, and setting up a battery pack assembly unit.
- Infrastructure Growth: Hyundai plans to establish 100 fast-charging stations along major highways.
Leadership Transition
Tarun Garg’s appointment is a significant moment for Hyundai Motor India, the country’s second-largest car manufacturer. Having been part of the company for many years and serving as COO, Garg brings a deep understanding of the Indian automotive landscape. His promotion reflects Hyundai’s growing confidence in local leadership to steer the company through its next phase of growth.
Unsoo Kim, who successfully led Hyundai India for three years, is returning to Seoul as part of a broader organizational restructuring within the company. The leadership change seems both strategic and timely, given Hyundai’s increasing focus on localization and its ambitious EV goals for the Indian market.
The $5 Billion Electric Push
At the center of Hyundai’s long-term vision for India lies its $5 billion investment commitment. A large portion of this funding will be directed toward its manufacturing facility in Chennai, Tamil Nadu. To formalize this, the company signed a Memorandum of Understanding (MoU) with the Tamil Nadu government, emphasizing collaboration in advancing clean mobility.
The plan includes establishing a new battery pack assembly unit with an annual capacity of 178,000 units. Hyundai also aims to ramp up its annual vehicle production from 750,000 units to 850,000 units. Part of the strategy involves introducing a range of new EV models tailored for Indian customers, reflecting the company’s response to the rising demand for sustainable mobility.
To strengthen EV infrastructure, Hyundai will set up 100 fast-charging stations along Tamil Nadu’s major highways. These will include a mix of 150-kilowatt ultra-fast chargers and 60-kilowatt fast chargers, helping make long-distance EV travel more practical and convenient.
This large-scale initiative aligns with the Indian government’s clean mobility mission and underscores Hyundai’s intent to emerge as a major force in the country’s electric vehicle ecosystem. Beyond technology and production, the investment is also expected to generate thousands of new jobs and support local suppliers, providing a significant boost to Tamil Nadu’s economy.
In many ways, Hyundai’s renewed push feels like a statement of intent, not just to expand its business but to evolve with India’s rapidly changing automotive landscape. And with Tarun Garg at the helm, the company’s next chapter appears both ambitious and distinctly homegrown.
Frequently Asked Questions (FAQs)
Q. Who is the new CEO of Hyundai Motor India?
A. Tarun Garg is the new CEO of Hyundai Motor India. He was previously the company’s Chief Operating Officer (COO).
Q. How much is Hyundai investing in India?
A. Hyundai has announced an investment of $5 billion (approximately ₹41,800 crore) in India, which will be spread over the next ten years.
Q. What is the primary focus of Hyundai’s new investment?
A. The investment is primarily focused on expanding its electric vehicle (EV) operations. This includes launching new EV models, increasing production capacity, and setting up a battery pack assembly unit and charging stations.
Q. Who was the previous CEO of Hyundai Motor India?
A. The previous CEO was Unsoo Kim, who has been reassigned to a role at Hyundai’s headquarters in Seoul, South Korea.
Q. Where will Hyundai set up its new battery assembly plant?
A. Hyundai will establish its new state-of-the-art battery pack assembly unit at its manufacturing facility in Chennai, Tamil Nadu.
