Hyundai Motor Europe (HME) has named Xavier Martinet as president and CEO, succeeding Michael Cole.
Martinet will assume his new role at the company’s headquarters in Offenbach, Germany, from 1 January 2025.
Go deeper with GlobalData
Bringing over 27 years of automotive industry experience, his career includes roles across Europe and the US.
Hyundai Motor Company president and global chief operating officer Jose Munoz said: “We are pleased to have someone with Xavier’s depth of European experience and proven leadership joining the Hyundai team. We look forward to welcoming Xavier.”
Martinet said: “I am honoured to have the opportunity to lead the great teams at Hyundai Motor Europe and will strive to further enhance sustainable growth, delivering exceptional customer satisfaction with the support of our dealers and importer partners.
Martinet began at Renault in 1997 as a sales & marketing assistant, progressing to positions such as sales manager, managing director of Renault Italia, and senior vice president and chief marketing officer at Dacia.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMost recently, he served as senior vice president of commercial services and head of Dacia’s marketing, sales, and operations.
Cole will step down on 31 December 2024 after 15 years with Hyundai Motor Group.
Cole has been president and CEO of HME since July 2020.
His previous roles include president of Kia America, chief operating officer of Kia Europe, and managing director of Kia UK.
During his tenure, Cole is said to have significantly advanced Hyundai’s presence in Europe.
Munoz added: “Michael Cole has made major contributions during his 15 years at Hyundai Motor Group. We are all grateful to Michael for his outstanding leadership, driving Hyundai’s growth across the Europe.”
In other developments, Hyundai Motor announced plans to begin production of its Ioniq 9 in the US next year.
Hyundai global COO and head of North American operations Jose Munoz confirmed that the Ioniq 9 will be manufactured at the Hyundai Motor Group Metaplant America (HMGMA) in Georgia.
Munoz stated the facility “will also produce Genesis and Kia vehicles in the future and supply them throughout North America.”
The HMGMA plant, completed last month, is a 300,000 unit/year facility focused on electric and plug-in hybrid vehicles.
Initially intended for battery electric vehicles (BEV), the plant’s line-up now includes plug-in hybrids due to slower-than-expected growth in the BEV segment over the past two years.
