In a major development in the Indian auto space, Hyundai Motor India has signed a partnership with TVS Motor, unveiling plans to commercialise electric three-wheelers in India. The two companies had earlier unveiled an electric three-wheeler concept at Bharat Mobility Global Expo in 2025.
This is essentially the formulation of that pact, with the two companies looking to shore up on electric three-wheeler manufacturing in order to cater to last-mile mobility, especially amid the proliferation of quick-commerce and delivery apps that require these mode of transport.
The two companies are focusing on local manufacturing of electric two-wheelers, with products to be jointly developed by these entities by sharing engineering expertise.
As part of the agreement, Hyundai will lead the designing part of things, co-developing the product. As for TVS Motor, it will contribute its electric three-wheeler platform, engineering expertise and local market knowledge.
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TVS will also lead manufacturing and sales from India. The two entities are currently only focusing on domestic sales, with a possibility to expand into exports in the future.
The product prototype that was unveiled last year is a make in India product, with features tailored to Indian mobility challenges. Some of the key features include adaptive ground clearance, enhanced safety, flexible interior configurations, among others.
In the wake of their partnership, Morgan Stanley believes the combined technology and expertise of these two companies help them win the segment, particularly through a combination of tech and scale.
The brokerage firm also believes the three wheeler space in India is likely to see high levels of electrification, not only in Indian markets but also oveseas.
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