Hyundai Motor India approves Tarun Garg’s elevation to MD and CEO

New Delhi: Hyundai Motor India (HMIL) on Monday said its shareholders have approved the appointment of Tarun Garg as Managing Director and Chief Executive Officer, effective January 1, 2026.

The ordinary resolution seeking approval for Garg’s appointment was passed through a postal ballot conducted via remote e-voting, with 99.75% of the votes cast in favour, the company said in a regulatory filing.

In October, the HMIL board had cleared the elevation of its Chief Operating Officer, Tarun Garg, to the roles of Managing Director and CEO from January 1, 2026, as part of the company’s succession planning process.

The development comes amid Hyundai Motor Co’s expanded focus on India, including investments of Rs 45,000 crore planned through FY30. Garg’s appointment marks the first time an Indian executive will lead Hyundai’s operations in the country.

As part of the group’s India roadmap, Hyundai Motor Co’s sales finance arm, Hyundai Capital, is expected to enter the Indian market in a phased manner by the second quarter of 2026. The company’s luxury brand, Genesis, is also scheduled to enter India through local assembly by 2027.

HMIL has outlined plans for 26 product launches by FY30, including seven new nameplates. These are expected to cover new segments such as MPVs, off-road SUVs and hybrid vehicles.