TVS Motor, Hyundai Ink Deal for Electric 3-Wheelers

TVS Motor Company Ltd. has entered into a Joint Development Agreement (JDA) with Hyundai Motor Company on April 20, 2026. The agreement focuses on the development, manufacturing, and commercialization of electric micromobility 3-wheelers. This collaboration aims to leverage Hyundai's design and technology with TVS Motor's engineering and manufacturing capabilities to create competitive EV solutions for India and other markets. Royalties will be exchanged based on sales in different territories, with TVS Motor leading manufacturing and having exclusive sales rights in India and other agreed territories, while Hyundai will have similar rights in Korea and other agreed territories.