Hyundai and TVS Join Hands for Electric 3W Mobility

Hyundai Motor Company and TVS Motor Company signed a Joint Development Agreement (JDA) on April 20, 2026, in Seoul and New Delhi to develop and commercialize electric three-wheelers for last-mile mobility in India and other global markets.

Under the agreement, Hyundai will lead vehicle design and co-develop the product using its R&D capabilities, advanced mobility technologies, and human-centric design approach. TVS Motor will contribute through its electric platform and engineering expertise, while also handling manufacturing and sales operations in India for both domestic and export markets.

The partnership will focus on local sourcing and manufacturing of key components to strengthen the supply chain, create jobs, reduce costs, and enhance after-sales service and spare parts availability.

The agreement follows the unveiling of an electric three-wheeler concept at the Bharat Mobility Global Expo 2025. The production model is expected to feature adaptive ground clearance for monsoon conditions, improved thermal management, and flexible interior configurations for passenger transport, cargo delivery, and emergency use.

The first vehicle under this collaboration will be launched in India, the world’s largest three-wheeler market. The initiative traces back to discussions held at the India-Korea Business Forum 2018, where Prime Minister Narendra Modi and Hyundai Motor Group’s Executive Chair explored the idea of jointly developing a high-quality three-wheeler.