At present, Garg serves as the whole-time director & COO of HMIL. Following a smooth transition, the incumbent managing director, Unsoo Kim, will return to a strategic role at Hyundai Motor Company (HMC), South Korea.
In a separate filing, the president & the CEO of HMC José Muñoz said that HMIL has planned an investment of Rs 45,000 crore through FY2030 to drive the next phase of growth.
The CEO stated: "We're making India a global export hub, targeting upto 30% export contribution. Our commitment is comprehensive: 26 product launches including 7 new nameplates, India's first locally manufactured dedicated electric SUV by 2027 and the launch of our luxury brand Genesis.”
Unsoo Kim, Managing Director, HMIL, said that the company is target targeting a revenue milestone of Rs 1 lakh crore by FY2030, while sustaining strong double-digit EBITDA margins. The company has guided for a dividend payout of 20% – 40%.
Tarun Garg, whole-time director & COO, HMIL, added that HMIL would target to achieve over 15% market share in domestic market underpinned by India centric product launches. The company would augment its presence in high-growth SUV segment driven by robust product strategy and customer centric approach, thereby, targeting over 80% UV contribution by FY2030.
He further said that by FY2030, our sales and service network will extend to 85% of India’s districts, with rural markets expected to contribute 30% of total sales.
Hyundai Motor India manufactures and sells passenger cars, along with vehicle parts and accessories.
On the earnings front, consolidated net profit fell 8.1% year-on-year to Rs 1,369.23 crore in Q1 FY26, while net sales declined 5.6% to Rs 16,179.62 crore.