Hyundai India and TVS Motor may jointly bring an all-new electric vehicle to the country's market. It is going to be an all electric three-wheeler. Hyundai will be responsible for its design and engineering. and will be produced by TVS. With this initiative, Hyundai aims to expand rapidly in the electric car market in India.
Hyundai and TVS to bring three-wheeler EV
Sources claim that talks have started between the two brands. A potential partnership could be announced. Whereas TVS will manufacture electric three-wheelers locally under contract manufacturing. It is reported that Hyundai's micro-mobility vehicle architecture will be shared with TVS. The vehicle technology, research and development will be a joint venture between the two companies. But it is not yet known when it might be launched.
Incidentally, TVS is already making electric two-wheelers jointly with German brand BMW. This time, the Indian company is going to join hands with Hyundai of South Korea in the field of three-wheelers. Notably, Hyundai is currently planning to unveil the new Creta EV at the upcoming Bharat Mobility Global Expo.
On the other hand, TVSO has also looked at last mile mobility. The company also plans to launch its own electric three-wheeler in 2025. Mahindra currently has the highest market share in the three-wheeler market at 40%. It is followed by Bajaj Auto. Startup companies are also gradually entering the electric three-wheeler market.
