Hyundai, TVS Motor sign pact to develop electric three-wheelers for India, eye last-mile mobility push

Hyundai Motor Company (HMC) and TVS Motor Company on Monday signed a joint development agreement (JDA) to design and commercialise Electric Three-Wheelers (E3Ws), entering India’s fast-growing last-mile mobility segment.

The agreement follows the unveiling of a concept at the Bharat Mobility Global Expo 2025 and marks a shift towards product development and eventual commercial rollout. India remains the world’s largest three-wheeler market, with electric adoption gaining momentum on the back of lower operating costs and policy support.

Clear split of roles

Under the pact, Hyundai will lead design and co-develop the product, leveraging its global R&D capabilities and mobility technologies. TVS Motor will support engineering through its electric three-wheeler platform and local market expertise.

TVS Motor will also take charge of manufacturing and sales in India, with a view to serving export markets as well. The companies said they will prioritise localisation of key components to reduce costs, strengthen the supply chain and improve after-sales support.

Product built for Indian conditions

The E3Ws are being developed to address local operating challenges such as high utilisation, uneven road conditions and climate-related stress.

The concept showcased earlier included features such as adaptive ground clearance for waterlogged roads, improved safety systems, ergonomic cabins for long hours of operation and enhanced thermal management suited for tropical climates. It also allows flexible configurations for both passenger and cargo use.

Strategic EV play

The partnership combines Hyundai’s technology expertise with TVS Motor’s understanding of the domestic three-wheeler segment, with an aim to develop scalable electric mobility solutions for India and other markets.

Both companies have set up cross-functional teams to fast-track development, localisation and regulatory approvals. The vehicle will undergo testing and certification before commercial launch.

The tie-up reflects a broader trend of global automakers partnering with domestic firms to tap into India’s evolving electric mobility ecosystem, particularly in the high-volume last-mile transport space.

The collaboration traces its origins to discussions held during the India-Korea Business Forum in 2018, where Narendra Modi and Hyundai Motor Group Executive Chairman Euisun Chung discussed plans to jointly develop a quality three-wheeler for the Indian market. Following multiple rounds of engagement and subsequent R&D efforts, the initiative has now culminated in the signing of the JDA at the 2026 Korea-India Business Forum.