Hyundai Motor Europe (HME) has announced the appointment of Xavier Martinet as the new president and CEO, taking over from Michael Cole. Martinet is set to assume his new role at the company’s headquarters in Offenbach, Germany, starting from 1 January 2025.
With over 27 years of experience in the automotive industry, Martinet has held various roles across Europe and the US. Hyundai Motor Company president and global chief operating officer, Jose Munoz, expressed his pleasure in having someone with Xavier’s extensive European experience and proven leadership join the Hyundai team.
Martinet shared his excitement about leading the teams at Hyundai Motor Europe and expressed his commitment to enhancing sustainable growth and delivering exceptional customer satisfaction with the support of dealers and importer partners.
Martinet’s career journey 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.
On the other hand, Michael Cole, who has been serving as the president and CEO of HME since July 2020, will step down on 31 December 2024 after 15 years with Hyundai Motor Group. Cole’s previous roles include president of Kia America, chief operating officer of Kia Europe, and managing director of Kia UK. During his tenure, Cole significantly advanced Hyundai’s presence in Europe.
Jose Munoz acknowledged Cole’s major contributions during his time at Hyundai Motor Group and expressed gratitude for his outstanding leadership in driving Hyundai’s growth across Europe.
In other news, Hyundai Motor announced plans to commence production of its Ioniq 9 in the US next year. The Ioniq 9 will be manufactured at the Hyundai Motor Group Metaplant America (HMGMA) in Georgia, as confirmed by Hyundai global COO and head of North American operations, Jose Munoz. The HMGMA plant, completed recently, 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. The facility will also produce Genesis and Kia vehicles in the future to supply them throughout North America.
The appointment of Xavier Martinet as the new president and CEO of Hyundai Motor Europe marks a new chapter for the company, while Michael Cole’s contributions and leadership over the years are celebrated as he prepares to step down. Additionally, Hyundai’s expansion plans and commitment to electric and hybrid vehicle production in the US demonstrate the company’s forward-looking approach to sustainable mobility.
