Hyundai, TVS Motor seal electric three-wheeler deal

Hyundai Motor and TVS Motor have signed a Joint Development Agreement to co-develop and commercialise electric three-wheelers (E3Ws) for India’s last-mile mobility market. The deal formalises a partnership first shown at Bharat Mobility Global Expo 2025, with TVS leading manufacturing and sales and Hyundai Motor leading design.

Under the agreement, Hyundai Motor will lead design, drawing on its R&D resources and human-centric design approach. TVS Motor will contribute its electric three-wheeler platform, engineering expertise, and local market knowledge.

Joongsun Ko, Senior Vice President of Corporate Strategy and Planning at Hyundai Motor, said: “Hyundai Motor Company has long explored ways to contribute to improving India’s transportation environment, and our collaboration with TVS Motor is a strategic decision rooted in that effort. We hope the co-developed E3W enables broader access to safer and more sustainable transportation across the country.”

Sharad Mishra, President of Group Strategy at TVS Motor, added: “By bringing together complementary strengths, including our electric three-wheeler platform, engineering expertise, and deep understanding of customer needs, we are well-positioned to deliver purpose-built products for India and additional markets.”

TVS Motor’s Indian manufacturing operations will serve domestic demand and future exports, while the company leads local sales. Both described the agreement as part of a wider focus on last-mile mobility in India.

Source: Business Wire