Hyundai Promoter Partners TVS on Electric Three-Wheelers

Hyundai Motor Company, the promoter of Hyundai Motor India, formalized a Joint Development Agreement with TVS Motor Company on April 20, 2026.
The agreement pools expertise to develop and commercialize safer, eco-friendly electric three-wheelers for India and other markets.
The partnership imposes a non-compete and right of first refusal on HMIL but is stated to have no material adverse impact on its operations.
HMIL is not a party to the agreement and confirms the transaction does not constitute a related party transaction.