Hyundai Motor and TVS Motor Partner to Commercialize Electric Three-Wheelers in India

Hyundai Motor and TVS Motor Partner to Commercialize Electric Three-Wheelers in India​

Hyundai Motor Company and TVS Motor Company Ltd. have formalized a Joint Development Agreement (JDA) to advance the creation and commercialization of Electric Three-Wheeler (E3W) solutions. The partnership aims to address the specific last-mile mobility needs prevalent across India and related markets.

The agreement was signed on April 20, 2026, following the successful presentation of the E3W concept at the Bharat Mobility Global Expo 2025. This collaboration represents a significant step toward providing tailored, sustainable mobility solutions for Indian consumers.

Under the JDA, the responsibilities of both companies are designed to combine their unique strengths, pooling electric mobility expertise with deep market knowledge.


Joongsun Ko, Senior Vice President of Corporate Strategy & Planning at Hyundai Motor Company, stated that the collaboration with TVS Motor is a strategic effort rooted in improving India's transportation environment. Ko added that the goal of the co-developed E3W is to enable broader access to safer and more sustainable transportation for people across the country.

TVS Motor Company’s President, Group Strategy, Sharad Mishra, commented that the partnership advances their shared ambition to develop electric three-wheeler solutions. Mishra emphasized that combining complementary strengths—including TVS's electric three-wheeler platform and engineering expertise—positions the group to deliver purpose-built products for India and additional markets.

The agreement includes a cornerstone commitment to localize component manufacturing for the E3W model's production. By sourcing and manufacturing major components within India, the partnership aims to strengthen India's automotive supply chain ecosystem, create employment opportunities, reduce overall vehicle costs, and ensure rapid after-sales support for end customers.

E3W Concept Features and Development Path​

The initial E3W concept, unveiled at the Bharat Mobility Global Expo 2025, features innovative capabilities tailored to Indian mobility challenges. These include adaptive ground clearance for monsoon affected roads, enhanced safety features, ergonomic design suitable for extended commutes, enhanced thermal management for tropical climates, and flexible interior configurations. These configurations are designed to serve multiple purposes, ranging from passenger transport to goods delivery and emergency services.

Both companies are committed to delivering the first vehicle in India, the world's largest three-wheeler market, as part of the JDA. This marks a significant milestone in sustainable last-mile mobility innovation. The product will undergo rigorous testing and localization refinement to meet both Indian regulatory standards and consumer expectations.

HYUNDAI Stock Price Movement​

Hyundai Motor India Limited shares today slipped by 0.78% to settle at ₹1888.00. The stock traded on a volume of 778,083 shares during the session.

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