Hyundai Motor Company and TVS Motor Company have signed an agreement on April 20, 2026 in Seoul and New Delhi to work together on electric three-wheelers. These vehicles will be used for last-mile transport in India and other global markets.
Under this partnership, Hyundai will focus on designing the vehicles and helping develop them using its technology and research. TVS Motor will support with its electric vehicle platform and engineering skills, and will also take care of manufacturing and selling the vehicles in India and for export.
Hyundai Motor Company and TVS Motor Company plan to make and source most of the vehicle parts locally in India.
This approach will help strengthen India’s supply chain, create more jobs, reduce vehicle costs, and make spare parts and after-sales service easier to access.
The agreement comes after both companies showed an electric three-wheeler concept at the Bharat Mobility Global Expo 2025.
The final vehicle will have features like adjustable ground clearance for rainy roads, better heat control, and flexible interiors for carrying passengers, goods, or even emergency services. It will first launch in India, which is the world’s largest market for three-wheelers.
“Hyundai Motor Company has long explored ways to contribute to improving India’s transportation environment as a key market, and our collaboration with TVS Motor is a strategic decision rooted in that effort. We hope the co-developed E3W enables broader access to safer and more sustainable transportation for people across the country.” – Joongsun Ko, Senior Vice President of Corporate Strategy & Planning at Hyundai Motor Company.
The first vehicle from this partnership will be launched in India, which is the largest market in the world for three-wheelers.
This idea started back in 2018 during the India-Korea Business Forum, where Narendra Modi and Hyundai’s Executive Chair discussed working together to build a high-quality three-wheeler.
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