Gate News message, April 21 — Hyundai Motor and TVS Motor signed an agreement in New Delhi to jointly develop an electric three-wheeler tailored for the Indian market. Hyundai will lead the design while TVS contributes its EV platform and local engineering expertise.
The partnership builds on Hyundai’s unveiling of an electric three-wheeler concept at Bharat Mobility Global Expo 2025 and focuses on Indian road conditions and urban transportation needs. Hyundai’s India Engineering Center, established in 2006 to adapt vehicles for local climate and infrastructure, will support the effort.
TVS Motor, which held approximately 28.9% of India’s electric two-wheeler market in February 2026 with year-over-year sales growth of 60%, will handle manufacturing and sales domestically, with plans to expand into export markets. The three-wheeler segment in India saw electric models account for over 53% of new sales in 2024.
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