Hyundai-TVS Partnership to Boost Electric Three-Wheeler Market in India

Key Highlights

• Hyundai and TVS sign JDA for electric three-wheelers.

• Focus on India’s last-mile mobility needs.

• Hyundai to lead design; TVS to handle production and sales.

• Dedicated teams to speed up development and approvals.

• Partnership builds on discussions started in 2018.

• Aim to expand into global markets from India.

In a major move to strengthen India’s electric mobility ecosystem, Hyundai Motor Company and TVS Motor Company have officially signed a Joint Development Agreement (JDA) to develop and commercialise electric three-wheelers (E3Ws) tailored for India’s last-mile mobility needs.

A Strategic Collaboration for India’s Mobility Future

The agreement marks a significant step for both companies as they aim to capture a strong position in India’s rapidly growing electric three-wheeler market. The partnership focuses on creating innovative, safe, and sustainable mobility solutions designed specifically for Indian customers.

This collaboration was formalised after the successful showcase of their E3W concept at the Bharat Mobility Global Expo 2025, highlighting their shared vision for cleaner urban transport.

Clear Roles: Design by Hyundai, Execution by TVS

Under the agreement:

• Hyundai Motor will lead the design and co-development of electric three-wheelers using its advanced R&D capabilities, cutting-edge mobility technologies, and human-centric design philosophy.

• TVS Motor will co-develop the vehicles using its advanced electric three-wheeler platform, strong engineering expertise, and deep understanding of the Indian market.

• TVS Motor will also handle local manufacturing, sales, and future exports from India.

This structured approach ensures that both companies bring their strongest capabilities to the table.

Leadership Insights on the Partnership

Joongsun Ko, Senior Vice President of Corporate Strategy & Planning at Hyundai Motor, said the company has long been exploring ways to improve India’s transportation landscape. He added that this collaboration is a strategic move aimed at providing safer and more sustainable mobility options across the country.

Sharad Mishra, President – Group Strategy at TVS Motor Company, highlighted that the agreement strengthens their shared ambition to deliver accessible and sustainable electric mobility. He emphasized that combining both companies’ strengths will help create purpose-built products not just for India but also for global markets.

Faster Development with Dedicated Teams

To speed up the process, both companies have formed dedicated cross-functional teams. These teams will focus on:

• Accelerating product development timelines

• Streamlining regulatory approvals

• Ensuring faster go-to-market strategies

This move is expected to reduce delays and bring products to market more efficiently.

Existing Electric Portfolio Strength

TVS Motor already has a presence in the electric three-wheeler space with models like:

• TVS King EV Max (passenger segment)

• TVS King Kargo EV (cargo segment)

These products provide a strong foundation for the upcoming jointly developed vehicles.

Long-Term Vision Rooted in India-Korea Ties

The idea of collaboration between the two companies dates back to discussions at the India-Korea Business Forum 2018, where India’s Prime Minister and Hyundai Motor Group leadership explored the potential of developing quality three-wheelers together.

After years of discussions and research, the partnership has now officially taken shape with the signing of the JDA at the Korea-India Business Forum 2026.

What This Means for India

This partnership is expected to:

• Improve last-mile connectivity with cleaner transport options

• Support India’s push towards electric mobility

• Offer better, safer, and more efficient three-wheeler solutions

• Open export opportunities from India

With both companies combining global technology and local expertise, the collaboration is set to redefine electric three-wheelers in India.

Also Read: EKA 6S Electric Auto Rickshaw Offers 6-Seater Capacity and 175 km Range

CMV360 Says

The Hyundai-TVS partnership signals a strong push towards sustainable mobility in India’s three-wheeler segment. By combining Hyundai’s global innovation with TVS Motor’s local expertise, the collaboration aims to deliver practical, efficient, and scalable electric mobility solutions. As demand for last-mile connectivity grows, this alliance could play a key role in shaping the future of urban transportation in India while also positioning the country as a hub for electric vehicle exports.