Hyundai India invests ₹45,000 cr, plans 26 new vehicle launches

Investment Plans - Hyundai Motor India (HMIL) will invest ₹45,000 crore (approximately $5.4 billion) between 2026 and 2030, with 60% allocated to product development and R&D, and 40% to capacity and upgrades [1] Product Launches - The company plans to launch 26 models by 2030, which includes seven all-new products, six full model changes, six variants, and seven facelifts/product enhancements. Among these, five electric vehicles (EVs) and eight hybrid-electric vehicles (HEVs) will be introduced [2] Market Expansion - HMIL aims to enter new segments, including multi-purpose vehicles (MPVs) and off-roader SUVs by 2030, along with the launch of the first 'Made in India' compact EV SUV featuring high range and level 2 Advanced Driver Assistance Systems (ADAS). The company targets a 15% share of the domestic passenger vehicles market [3] Luxury Brand Introduction - Hyundai will introduce its luxury brand, Genesis, with the first locally produced model set to launch in 2027 [4] Leadership Changes - The Board of Directors has approved a succession plan for the Managing Director, appointing Tarun Garg as Managing Director and CEO effective January 1, 2026. He will succeed Unsoo Kim, who will return to South Korea for a strategic role at Hyundai Motor Company [5] Executive Background - Tarun Garg holds a Mechanical Engineering degree from Delhi Technological University and an MBA from the Indian Institute of Management, Lucknow. He has a notable career with Maruti Suzuki India, where he held various positions including Regional Sales Manager and Executive Director of Marketing [6]