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Hyundai Motor joins hands with TVS Motor to develop electric three-wheelers in India

Hyundai Motor India Ltd. | Automobiles - Passenger Cars | Automobiles | BSE: 544274 | NSE: HYUNDAI

21 Apr 2026 Evaluate

Hyundai Motor Company and TVS Motor Company (TVS Motor) have signed a Joint Development Agreement (JDA) to advance the development and commercialization of innovative Electric Three-Wheeler (E3W) solutions designed specifically to address India's last-mile mobility needs. The partnership formalized following the successful presentation of the E3W concept at the Bharat Mobility Global Expo 2025. Under the agreement, the company will lead the design and co-develop the E3W by leveraging its research and development expertise, advanced mobility technologies and human-centric design approach.

The E3W will be engineered to address India's unique mobility challenges while delivering sustainable solutions aligned with local road conditions and urban infrastructure. TVS Motor will co-develop the product using its leading-edge electric platform, extensive three-wheeler engineering expertise and deep local market knowledge. Leveraging its long legacy of trust and quality focus, TVS will also lead local sales, with its manufacturing operations in India catering to Indian market demand and future exports.

Both companies are committed to delivering the first vehicle in India - the world’s largest three-wheeler market - as part of the JDA marking a significant milestone in sustainable last mile mobility innovation. A cornerstone of this partnership is the commitment to localize component manufacturing for the E3W model’s production. Major components will be sourced and manufactured locally within India. This strategic approach serves multiple objectives: it strengthens India's automotive supply chain ecosystem, creates employment opportunities, reduces overall vehicle costs and ensures rapid after-sales support and spare parts availability for end customers.

Hyundai Motor India is a wholly owned subsidiary of the Hyundai Motor company headquartered in South Korea. The company primarily manufactures and sells four-wheeler passenger vehicles and parts, such as transmissions and engines in India and outside India.

Hyundai Motor India Share Price

1784.35 -60.00 (-3.25%)

24-Apr-2026 14:09 View Price Chart

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Hyundai Motor joins hands with TVS Motor to develop electric three-wheelers in India

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