TVS Motor and Hyundai Motor have formalized the partnership to manufacture and sell electric three-wheelers. In an exchange filing, Hyundai Motors India said that the two companies will pool their expertise, resources, and technological capabilities to develop eco-friendly electric three-wheelers for India and additional markets.
As per the disclosure, Hyundai Motor and TVS Motors will jointly develop the vehicle, with each party leading the development phases it undertakes. While Hyundai Motor will lead the concept design of the vehicle, TVS will lead procurement, manufacturing, sales, and distribution.
“Hyundai Motor Company has long explored ways to contribute to improving India’s transportation environment as a key market, and our collaboration with TVS Motor is a strategic decision rooted in that effort. We hope the co-developed E3W enables broader access to safer and more sustainable transportation for people across the country, “Joongsun Ko, Senior Vice President of Corporate Strategy & Planning at Hyundai Motor Company, said in a statement.
Focus on local manufacturing
In a joint statement, the companies said the partnership will use localized component manufacturing for the E3W model’s production. Major components will be sourced and manufactured locally within India. This strategic approach is expected to reduce overall vehicle costs and ensure rapid after-sales support and the availability of spare parts for end customers.
Sharad Mishra, President, Group Strategy, TVS Motor Company, said that the joint development agreement marks an important step in our partnership with Hyundai Motor Company and advances their shared ambition to develop electric three-wheeler solutions.
“By bringing together complementary strengths – including our electric three-wheeler platform, engineering expertise, and deep understanding of customer needs – we are well-positioned to deliver purpose-built products for India and additional markets”, Mishra added.
Market-fit product
The formalization of the partnership between Hyundai Motors and TVS Motors follows the companies’ initial announcement at the Bharat Mobility Global Expo 2025. The E3W concept unveiled at the Expo showcased innovative features tailored to Indian mobility challenges.
These include adaptive ground clearance for monsoon-affected roads, enhanced safety features, ergonomic design for extended commutes, enhanced thermal management for tropical climates, and flexible interior configurations for multiple use cases.