Hyundai Motor Company and TVS Motor Company signed a Joint Development Agreement to co-develop and commercialize electric three-wheelers for India and export markets.
The partnership follows a concept unveiled at Bharat Mobility Global Expo 2025 and focuses on combining Hyundai's R&D with TVS's local market expertise.
Major components will be locally manufactured in India to strengthen supply chains, reduce costs, and create employment opportunities.
The first vehicle will be delivered in India, the world's largest three-wheeler market, with dedicated teams accelerating development timelines.