Hyundai Motor India shareholders approve the appointment of Tarun Garg as MD & CEO

New Delhi: Hyundai Motor India Ltd on Monday said its shareholders have approved the appointment of Tarun Garg as Managing Director and Chief Executive Officer with effect from January 1, 2026. The ordinary resolution seeking approval for Garg’s appointment was approved by shareholders through a postal vote through remote e-voting with 99.75 percent of votes in favor, Hyundai Motor India Ltd (HMIL) said in a filing with the regulator.

In October this year, HMIL’s board had approved the appointment of its Chief Operating Officer, Garg as Managing Director and CEO from January 1, 2026, as part of its succession planning.

The move was part of parent Hyundai Motor Co doubling its footprint in India with investments of Rs 45,000 crore in FY30 and for the first time, an Indian was put in charge of its operations in the country to fuel its future growth.

Under the plan, Hyundai Capital, the sales financing arm of Hyundai Motor Co, will enter the country in phases by the second quarter of 2026 to further boost sales, while luxury brand Genesis will also enter the market through local assembly by 2027.

HMIL plans 26 product launches by FY30, including seven new nameplates, marking its entry into the MPV and off-road SUV segments and hybrid vehicles as part of the strategy.