Hyundai and TVS Collaborate to Introduce Three-Wheeled Electric Vehicle
Jakarta (ANTARA) - The South Korean automaker, in partnership with India’s TVS Motor Company, has officially collaborated to introduce a three-wheeled electric vehicle in the Indian automotive market.
“Hyundai Motor Company has long sought ways to contribute to enhancing the transportation ecosystem in India, one of our key markets. The collaboration with TVS Motor is a strategic decision born from those efforts,” said Joongsun Ko, Senior Vice President of Corporate Strategy & Planning at Hyundai Motor Company, in an official company statement on Monday.
Joongsun Ko explained that under this partnership, Hyundai will lead the design process and contribute to developing the E3W, drawing on its research and development expertise, cutting-edge mobility technology, and human-centred design approach.
Meanwhile, the Indian company will leverage its advanced electric platform, extensive engineering expertise in three-wheeled vehicles, and deep understanding of the Indian market.
TVS, with its strong capabilities in sales and a solid reputation in the domestic market, will deliver a breakthrough for the Indian market alongside Hyundai as its partner.
“We hope this jointly developed E3W will provide broader access for people across India to safer and more environmentally friendly transportation,” he added.
Meanwhile, Sharad Mishra, President of Group Strategy at TVS Motor Company, stated that this collaboration also represents the company’s commitment to improving the quality of life for people in India through sustainable and affordable mobility.
“This Joint Development Agreement marks an important step in our partnership with Hyundai Motor Company and strengthens our shared ambition to develop three-wheeled electric vehicle solutions,” said Sharad Mishra.
“By combining complementary strengths, including our three-wheeled electric vehicle platform, engineering expertise, and deep understanding of customer needs, we are well-positioned to deliver a product specifically designed for India and other markets,” he continued.
Both companies are committed to launching the first vehicle in India, the world’s largest three-wheeler market, as part of the agreement that marks a significant milestone in sustainable short-range mobility innovation.
A key foundation of this partnership is a strong commitment to locally producing the components needed for E3W model production. Major components will subsequently be supplied and manufactured directly in India.
This strategic approach aims to strengthen India’s automotive supply chain ecosystem, create new jobs, reduce overall vehicle costs, and ensure responsive after-sales service and easy access to spare parts for consumers.