Hyundai in talks with TVS Motor to develop electric three-wheeler: Report

TVS is gearing up to launch its own electric three-wheeler in 2025, signalling its ambition in the electric last-mile mobility space.

Hyundai India is reportedly in talks with TVS Motor to jointly develop a new electric three-wheeler, according to Autocar Professional. The report suggests that TVS will handle the manufacturing of the vehicle, while Hyundai will take charge of its design and engineering. This collaboration would mark Hyundai's entry into India's growing last-mile mobility market, aligning with its push toward zero-emission vehicles.

Sources close to the development told Autocar Professional that the potential partnership would involve TVS manufacturing the electric three-wheeler locally under a contract manufacturing agreement. Hyundai's micro-mobility vehicle architecture could also be shared with TVS, in a similar fashion to how TVS has access to BMW’s architecture through its tie-up with the German automaker.

Neither Hyundai nor TVS responded to requests for clarification on the matter, and the report could not be independently verified by Moneycontrol.

Hyundai, which already offers the Creta EV and other electric models, is also set to showcase its last-mile mobility concepts at the upcoming Bharat Mobility Global Expo. Meanwhile, TVS is gearing up to launch its own electric three-wheeler in 2025, signalling its ambition in the electric last-mile mobility space.

In addition to the vehicle development, Hyundai is expected to introduce its app-based platform, Shucle, in India. Shucle, a demand-responsive ride-pooling service, was launched by Hyundai Motor Group in 2021 in South Korea. The platform, developed by Hyundai’s AI research lab, aims to address local transportation challenges by offering flexible routing based on real-time demand. The name “Shucle” is a blend of “Shuttle” and “Circle,” reflecting its role in providing circular shuttle services.

Entering the last-mile mobility market could give Hyundai a foothold in India's rapidly expanding electric vehicle segment, particularly the three-wheeler market, where Mahindra currently holds the largest share. Other major players like Bajaj Auto, Ola Electric, and Hero MotoCorp are also eyeing this growing sector.