Hyundai Motor India plans to invest ₹45,000 crore by FY2030 to capture over 15% of the domestic passenger vehicle market.
The company will launch 26 new models, including seven new nameplates and India’s first locally made electric SUV by 2027.
Tarun Garg, currently HMIL’s COO, will become the first Indian CEO of Hyundai India from January 1, 2026.
Hyundai Motor India Ltd (HMIL) on Wednesday announced plans to invest ₹45,000 crore by the financial year 2030 as part of its strategy to capture more than 15% of India’s passenger vehicle market.
Under its five-year investment plan, the South Korean carmaker aims to launch 26 new models, including seven new nameplates, establish India’s first locally manufactured dedicated electric SUV by 2027, and introduce its luxury brand Genesis in the country by the same year.
The announcement came alongside the appointment of Tarun Garg as the next Managing Director and Chief Executive Officer of HMIL, effective January 1, 2026, subject to shareholder approval. Garg, who currently serves as the Whole-time Director and COO of the company, will become the first Indian national to hold this leadership role in Hyundai’s 29-year history in India. Incumbent Managing Director Unsoo Kim will return to a strategic role at Hyundai Motor Company (HMC), South Korea.
Following the announcements, Hyundai Motor India’s shares rose as much as 2.5% in early trade on the BSE. At 1 PM, the stock was trading at ₹2,448, up 1.51%.
The South Korea-based automaker aims to make India its second-largest region globally within Hyundai Motor Company, reinforcing the country’s position as a key export hub. By 2030, Hyundai is targeting a over 15% domestic market share, with utility vehicles (UVs) and eco-friendly powertrains (CNG, EV, and hybrid) expected to contribute over 80% and 50% of total sales, respectively.
Hyundai also plans to enhance its manufacturing capabilities with a Software Defined Factory, deepen localisation, and expand India’s role in its global operations, with exports contributing up to 30% of total production. Financially, HMIL aims to achieve 1.5 times revenue growth, surpassing the ₹1 lakh crore mark by FY2030, while maintaining double-digit EBITDA margins and a dividend payout ratio of 20%–40%.
The investment plan follows just a year after the company listed its shares on Indian bourses.
“Following our landmark IPO last year and 29 years of success in India, HMIL now plans an investment of ₹45,000 crore through FY2030 to drive the next phase of growth. India is a strategic priority in Hyundai’s global growth vision. By 2030, HMIL will be our second-largest region globally,” said Jose Munoz, President & CEO, HMC.
He added that Hyundai is positioning India as a global export hub, with exports expected to contribute up to 30% of production.
Munoz also welcomed Tarun Garg’s appointment, saying, “Under his guidance as COO, HMIL achieved record sales for three consecutive years, record-breaking profits, and completed India’s largest IPO in 2024. He is a people-first leader who believes success comes from treating customers like honoured guests, empowering teams, and investing for the long term.”
