Newsletter
Hyundai Motor Company and TVS Motor Company have signed a joint deal to develop and sell electric three-wheelers for India’s last-mile mobility market.
The deets: under the partnership, Hyundai Motor Company will lead design and development, while TVS Motor Company will handle engineering, manufacturing, and sales in India.
Both will focus on local production to cut costs, with joint teams speeding up development, approvals, and testing before launch.
The backdrop: the model was first unveiled at the Bharat Mobility Global Expo 2025, and comes as India and South Korea aim to double trade to $50 billion during the South Korean President’s visit.
At a broader level, it highlights how global automakers are partnering with Indian firms to capture a market where players like Piaggio, Mahindra Electric, and Euler Motors are already ramping up competition.
Statista
