Tarun Garg will take over as the new Managing Director & Chief Executive Officer from January 01, 2026.
Mr Garg will be the first Indian national to take on this leadership role within HMIL since the company’s establishment 29 years ago.
He will succeed Mr Unsoo Kim who has resigned and is returning to South Korea to take up a strategic role at Hyundai Motor Company.
Meanwhile, Hyundai said it would undertake a weighted average price increase of around 0.6% across its model range, effective from January 1, due to the rise in the cost of precious metals and commodities.
“While the company continuously strives to optimize costs and minimize the impact on its customers, the company is constrained to pass on some of the increased costs to the market through this minor price increase,” a release said.
