Prime Highlights:
- Hyundai Motor Company and TVS Motor Company have signed a joint agreement to develop and sell electric three-wheelers in India and other markets.
- The partnership aims to improve last-mile transport and support growth in sustainable mobility.
Key Facts:
- Hyundai will lead design and development, while TVS Motor will support production, sales, and local market operations in India.
- The vehicle will be made with key parts in India, helping create jobs, reduce costs, and support the local auto industry.
Background:
Hyundai Motor Company and TVS Motor Company have formalized a joint development agreement to develop and commercialize electric three-wheelers for India and other markets, marking a major step in sustainable last-mile mobility. The partnership follows the successful presentation of the concept vehicle at the Bharat Mobility Global Expo in January and moves the project into product development and mass production.
Under the agreement, Hyundai will lead the design and co-development of the vehicle by using its research and development capabilities, mobility technologies and customer-focused design approach. TVS Motor will support the development with its electric three-wheeler platform, engineering skills and strong knowledge of the local market. The company will lead sales and manufacturing operations in India and plans future exports to other markets.
The electric three-wheeler is being developed to address India’s transport needs, particularly in last-mile passenger movement, goods delivery and emergency services. The vehicle will feature higher ground clearance, better safety, heat control and flexible seating.
A key part of the agreement is making major parts in India. This is expected to help the local auto supply chain, create jobs, cut vehicle costs and improve after-sales service.
Both companies have set up dedicated teams to speed up product development, testing and regulatory approvals. The planned vehicle is expected to strengthen electric mobility solutions in India, the world’s largest three-wheeler market, while supporting long-term growth in sustainable transport.
