Hyundai has made its first-ever move to appoint local executives to lead operations in China and India, signaling a shift in its regional management strategy.
The appointments come 23 years after the company established its Chinese subsidiary and 29 years after entering the Indian market, with the goal of strengthening localization and boosting competitiveness in two of Asia’s largest automotive markets.
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In China, Hyundai Motor has appointed Li Penggang, former deputy general manager of FAW-Audi, as general manager of Beijing Hyundai Motor Co. (BHMC). Li, 44, is a graduate of Tsinghua University and has built his career at FAW-Volkswagen since 2003, where he held key positions in strategy, operations, and network management before being promoted to executive deputy general manager at FAW-Audi in 2023.
A Hyundai Motor official stated, “General Manager Li is a young, versatile local talent who started his career in research and development and encompasses strategic planning, sales operations, and brand building. He is expected to comprehensively oversee production, sales, and planning operations at Beijing Hyundai.”
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The appointment marks the first time Hyundai Motor has handed top management control of BHMC to a local executive. Traditionally, the general manager position was filled by Hyundai and the deputy general manager by its joint venture partner, Beijing Automotive Group (BAIC). The company said the decision reflects its effort to “strengthen localization strategies” amid efforts to revive sales in China, which have declined sharply since the 2017 THAAD dispute. Hyundai plans to launch six localized electric models by 2027, starting with the ELEXIO, and aims to expand China’s share of its total global sales from 4% last year to 8% by 2030, nearly tripling sales from 167,000 to 444,000 units.
In India, Hyundai has also named a local executive to the top post for the first time. Tarun Garg, currently chief operating officer (COO) of Hyundai Motor India Limited (HMIL), will take over as CEO starting January 1 next year. Garg, who previously worked at Maruti Suzuki, joined Hyundai Motor India in 2019 and is credited with strengthening local operations. Alongside this leadership change, Hyundai announced it will invest 450 billion rupees (approximately 7.4 trillion won) in India by 2030. Sixty percent of the investment will go toward research and development, while the rest will be allocated to expanding production capacity and developing new models.
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Hyundai plans to launch 26 new vehicles in India by 2030, including India-strategic electric SUVs and Genesis models by 2027. The automaker has increased its Indian production capacity to 1.1 million units annually with the addition of the Pune plant acquired from General Motors. India accounted for about 15% of Hyundai’s global sales last year, or roughly 610,000 units. Hyundai Motor CEO José Muñoz highlighted the market’s growing importance, saying, “India holds strategic priority in Hyundai Motor’s global growth vision. By 2030, India will become Hyundai Motor’s second-largest market.”
Source: Business Korea
