Hyundai Motor India Limited (HMIL) unveiled an ambitious Rs 45,000 crore investment plan through FY2030, aiming to make India its second-largest market globally. Alongside, the company announced the elevation of Tarun Garg, currently Chief Operating Officer, as Managing Director and Chief Executive Officer from January 1, 2026, marking the first time an Indian executive will lead Hyundai’s operations in the country.
The announcement was made during Hyundai’s first-ever Investor Day, where top global and Indian executives outlined a comprehensive “India Vision 2030” roadmap focusing on product innovation, sustainable mobility, and deep localisation.
Hyundai bets big on India’s future
“Following our landmark IPO last year and 29 years of success in India, HMIL now plans an investment of Rs. 45,000 crore through FY2030 to drive the next phase of growth,” said Jose Munoz, President & CEO, Hyundai Motor Corporation.
The investment, worth approximately $5 billio,n will be aimed at capacity increase, R&D innovation and product diversification. As per the firm, 60 percent of the expenditure will go towards new products and technology, and the remaining 40 percent for production increase and facility upgradation.
“India is not just important to Hyundai’s global strategy; India is Hyundai’s global strategy,” Muñoz said, emphasising the country’s role as a key manufacturing and export hub. By 2030, HMIL aims for India to contribute 30 percent of its global exports, transforming the nation into a major automotive export centre.
Ambitious roadmap: 26 cars, electric and hybrid revolution
Hyundai will launch 26 new products under the 2030 plan, including seven all-new nameplates. The company’s lineup will include India’s first locally developed, designed, and manufactured dedicated electric SUV by 2027, and a complete range of hybrid models across segments.
Munoz said the company plans to expand from zero hybrid SUVs today to eight hybrid models by 2030, targeting both the mass and premium markets. Hyundai’s luxury brand Genesis will also make its India debut in 2027 through local assembly operations, signalling the automaker’s intent to tap into the fast-growing premium segment.
Apart from that, Hyundai Capital, the financial services division of the company will launch in India by Q2 2026 to drive sales via customised financing options. “Sales finance is not only credit; it’s a growth strategy and customer loyalty enabler,f Muñoz stated, adding that in-house financed markets experience up to 50 percent increased customer loyalty.
Strategic Targets: Market share, revenue, and exports
HMIL has aspirations of crossing over 15 percent domestic market share and Rs 1 lakh crore in revenues by FY2030 while sustaining robust double-digit EBITDA margins.
Unsoo Kim, now Managing Director of HMIL, stated the company’s strategy is consistent with India’s burgeoning economic and consumer growth. “Our aspiration is to provide smart mobility solutions with world-class products and leading-edge technologies for India’s aspiring and fast-growing consumers,” he said.
The roadmap also emphasises inclusive and sustainable growth. Hyundai plans to expand its sales and service network to 85 percent of India’s districts by 2030, with rural markets expected to contribute 30 percent of total sales. This will be supported by a mix of ICE, CNG, EV, and Hybrid technologies, ensuring that more than 50 percent of Hyundai’s future portfolio will consist of eco-friendly powertrains.
Tarun Garg to lead Hyundai India from 2026
Hyundai announced that Tarun Garg will take over as Managing Director and CEO from January 1, 2026. Currently serving as Whole-time Director and COO, Garg has been instrumental in shaping Hyundai’s recent growth in India, particularly in the SUV and EV segments.
“This vision 2030 roadmap is a game-changing catalyst to redefine HMIL’s growth journey and take it to new heights,” Garg stated. “We intend to consolidate our high-growth SUV presence with over 80 percent utility vehicle contribution by FY2030.”
He further mentioned that Hyundai will join the league of few mass manufacturers in India offering a complete powertrain range, covering internal combustion, CNG, hybrid, and electric vehicles.
With Garg at the helm, the organisation is set to provide better customer experiences with digitisation and artificial intelligence-based services and ensure a greater connection with India’s fast-urbanising and tech-savvy consumers.
Munoz lauded the appointment, stating, “For the first time, an Indian will lead Hyundai Motor India. This speaks volumes about the confidence we have in the Indian market and in our people.”
India: Hyundai’s second-largest global region
Hyundai’s renewed focus on India is part of its strategy to diversify global operations amid challenges in traditional markets like the U.S. and Europe. The company plans to make India its second-largest global region by 2030, trailing only North America.
Worldwide, Hyundai Motor Group increased from seventh position in 2008 to third position in 2022 based on sales. We have grown by going in and investing where others pull back,” Muñoz said, indirectly alluding to automakers such as Ford and General Motors, which have withdrawn from India. “While others slash, we construct; while others leave markets, we place double bets.”
Vision aligned with Make in India
Hyundai’s massive investment aligns closely with the Government of India’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, aimed at transforming the country into a global manufacturing powerhouse.
Muñoz highlighted that Hyundai’s expansion will not only enhance India’s automotive exports but also foster local employment, innovation, and supplier growth. The automaker plans to significantly increase local sourcing and collaborate with Indian component manufacturers to strengthen supply chain resilience.
By 2030, over 50 percent of our portfolio will be driven by cleaner and more sustainable technologies. We are keen to contribute towards India’s green mobility transition,” Garg added.
Investor confidence and market reaction
After the announcement, Hyundai Motor India’s shares climbed almost 3 percent, indicating robust investor confidence in the company’s long-term India strategy. The company also announced a dividend payout guidance of 20-40 percent, consistent with shareholder expectations and indicating stable profitability.
With this bold expansion plan, Hyundai becomes one of the global automakers, placing big bets on India’s shift towards electric and hybrid mobility.
Hyundai Motor India’s Rs 45,000 crore investment is not just an expansion, it is a recommitment to India’s future as a global car-making hub. The company’s holistic strategy, by combining product innovation, eco-friendly technology, local leadership, and export growth, puts it at the top of India’s next decade of mobility transformation.
