India to become Hyundai’s second-largest region globally; Genesis brand and locally manufactured electric SUV confirmed by 2027
Hyundai Motor India Limited (HMIL), the country’s second-largest car manufacturer and a wholly owned subsidiary of Hyundai Motor Company (HMC), today outlined an ambitious roadmap to drive its next phase of growth through FY2030. The company announced an investment of Rs 45,000 crore, along with major product, manufacturing, and financial milestones — while also marking a defining moment in its 29-year legacy with the appointment of Mr. Tarun Garg as the next Managing Director & CEO, effective January 1, 2026.
Tarun Garg Appointed as MD & CEO of Hyundai Motor India
In a landmark announcement, Hyundai Motor India also confirmed the appointment of Mr. Tarun Garg as the next Managing Director & CEO, effective January 1, 2026, subject to shareholder approval. Mr. Garg will become the first Indian national to lead Hyundai Motor India in its nearly three-decade history.
Currently serving as Whole-time Director & COO, Mr. Garg has played a pivotal role in HMIL’s transformation — leading the company to record sales for three consecutive years, record-breaking profitability, and the largest IPO in Indian automotive history in 2024.
India: Hyundai’s Second-Largest Global Region by 2030
Unveiled at HMIL’s first-ever Investor Day, the comprehensive strategic roadmap aims to make India Hyundai’s second-largest region globally by 2030. The company will focus on India-centric innovation, advanced manufacturing, and export excellence to sustain long-term growth.
Mr. José Muñoz, President & CEO, Hyundai Motor Company, stated: “Following our landmark IPO last year and 29 years of success in India, now HMIL plans an investment of Rs 45,000 crores 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, aligned with the Honorable Prime Minister Shri. Narendra Modi’s vision of ‘Make in India.’ 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, all while treating every customer like our honoured guest. The fundamentals are strong. The strategy is clear. The team is energized. And most importantly, we have the trust of Indian customers built over 29 years. It’s a great time to be at Hyundai Motor India.”
26 Product Launches, 7 New Nameplates & Entry into MPV and Off-Road SUV Segments
Hyundai’s product roadmap through FY2030 includes 26 launches, of which 7 will be all-new nameplates, marking the brand’s expansion into the MPV and off-road SUV segments. By 2027, the company will also roll out India’s first locally manufactured dedicated electric SUV, reinforcing its leadership in the EV segment.
Hyundai aims to achieve a 15%+ domestic market share, with UVs contributing over 80% of sales by FY2030. The company will also target 50%+ portfolio share from eco-friendly powertrains — including CNG, hybrid, and EVs — underlining its commitment to future-ready mobility.
Luxury Brand Genesis to Launch in India by 2027
Hyundai confirmed that its luxury arm, Genesis, will make its India debut in 2027. The introduction of Genesis will position HMIL firmly in the premium segment, offering customers an elevated ownership experience combining design excellence, advanced technology, and sustainability.
Expanding Manufacturing & Export Capabilities
Hyundai Motor India’s upcoming Pune manufacturing plant is set to play a crucial role in the brand’s long-term growth strategy for the country. Spread across 300 acres with 31% green cover, the facility will house four vehicle shops and one engine shop, underscoring Hyundai’s focus on sustainable, advanced production. The plant will begin operations with the start of production for a new model in October 2025, marking a major milestone in the company’s expansion roadmap.
Once fully operational, the Pune plant—Hyundai’s third in India after its two Chennai units—will add 1.1 million units of total annual production capacity, making it the highest-capacity manufacturing base among all Hyundai Motor Company plants globally. The calibrated capacity expansion will boost output by 170,000 units by 2025 and an additional 80,000 units by 2028, further strengthening India’s role as a key global manufacturing and export hub for Hyundai.
Hyundai will continue to strengthen India’s role as a global export hub, targeting up to 30% contribution from exports by FY2030. The company plans to evolve towards a Software Defined Factory (SDF) model, driving localization, digitalization, and sustainability across its operations.
With these initiatives, HMIL aims to achieve 1.5X revenue growth, crossing the Rs 1 lakh crore milestone by FY2030, while maintaining strong double-digit EBITDA margins. The company also announced a dividend payout guidance of 20–40%, ensuring long-term value creation for shareholders.
Mr. Unsoo Kim, Managing Director, HMIL, added: “Our growth vision is built around smart mobility, customer-centric innovation, and financial discipline. We’re targeting Rs 1 lakh crore in revenue by FY2030 with sustainable margins, while expanding our sales and service footprint to 85% of India’s districts.”
Mr. Tarun Garg, Whole-time Director & COO, HMIL, commented: “We aim to be one of the few OEMs in India to offer a complete range of ICE, CNG, EV, and hybrid options. Our 2030 roadmap will help us deepen our presence in high-growth SUV segments, expand our reach to rural markets contributing 30% of total sales, and reinforce Hyundai’s legacy of innovation and trust.”
