Hyundai India is reportedly exploring a partnership with TVS Motor to develop an all-new electric three-wheeler, marking its entry into India’s burgeoning last-mile mobility segment. Under this potential collaboration, TVS could handle manufacturing locally through a contract arrangement, while Hyundai would contribute its expertise in design and engineering.
The proposed vehicle is expected to integrate Hyundai’s micro-mobility vehicle architecture, similar to TVS’s access to BMW’s platform for two-wheelers under their existing alliance. This move aligns with Hyundai’s broader strategy to expand its zero-emission portfolio and capture a share of the rapidly growing electric vehicle market in India.
Neither Hyundai nor TVS has officially commented on the partnership, but sources indicate discussions are well underway. Hyundai plans to showcase its innovations, including the Creta EV and other last-mile mobility concepts, at the Bharat Mobility Global Expo. TVS, for its part, aims to launch its own electric three-wheeler in 2025, signaling a shared focus on this high-potential segment.
Hyundai’s entry into the three-wheeler market could also pave the way for introducing app-based mobility solutions like its “Shucle” platform. Launched in South Korea in 2021, Shucle is an AI-driven, demand-responsive ride-pooling service designed to optimize urban transportation. Leveraging such innovations, Hyundai aims to address India’s growing need for efficient and eco-friendly last-mile mobility.
The electric three-wheeler market in India is currently led by Mahindra, with a 40% share, while Bajaj Auto, startups like AltiGreen and Euler Motors, and major players like Ola Electric and Hero MotoCorp are intensifying competition. Hyundai and TVS’s potential collaboration could reshape the dynamics of this fast-evolving sector.
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