Hyundai, TVS explore partnership for electric three-wheelers and micro four-wheelers

Hyundai Motor Company announced its plans to collaborate with TVS Motor Company to develop advanced electric three-wheelers and micro four-wheelers in India. This partnership aims to contribute to the last-mile mobility market in India.

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The partnership plan

Hyundai Motor unveiled concept models of electric three-wheelers and micro four-wheelers at Bharat Mobility Global Expo 2025. While no binding agreements have been executed, Hyundai Motor plans to offer design, engineering, and technology, while TVS Motor will explore manufacturing and marketing of the vehicles.

“Collaborating with TVS Motor, we aim to locally produce the three-wheeler while exploring global opportunities for the four-wheeler,” said SangYup Lee, Executive Vice President and Head of Hyundai and Genesis Global Design.

Hyundai Motor will explore the practicality and potential of these futuristic mobility solutions while taking into consideration Indian traffic. The three-wheeler concept is proposed to be produced in collaboration with TVS, while the development of the four-wheeler is under review, with a focus on its global potential.

Meanwhile, TVS Motor launched its first electric three-wheeler with the launch of King EV Max, priced at Rs 2.95 lakh. This launch follows TVS Motor’s collaboration with Korean automotive giant Hyundai Motor to explore the production of three-wheelers and micro four-wheelers for the Indian market.

Design of the concept

Adjustable height: The electric three-wheeler concept designed by Hyundai Motor is capable of navigating narrow streets effortlessly. The height of the body is adjustable, allowing it to be lifted to navigate waterlogged streets during the heavy rains of the monsoon season.

Angled windshield: A standout feature is the unique diagonal profile with an angled windshield. This element not only suggests enhanced collision protection but also ensures a clearer and safer view of the road ahead.

Flat floor and extended wheelbase: The vehicle features a flat floor and extended wheelbase. This provides more legroom and an improved seating position for the driver. Large tires ensure a smoother ride even on rough terrains, while the towing hook allows for quick recovery from potholes.

Also, the interior also boasts of flexible elements, including adaptable storage solutions, a slim cluster design for intuitive information display, a dedicated phone holder to enhance connectivity, and pegboard-inspired panels that can be adjusted for convenience, hygiene and safety.

The market size

The total market size of three-wheelers, including e-rickshaw, was 12.22 lakh units (across different powertrain) in 2024, witnessing a growth of 10.5 per cent as compared to 2023 when the industry sold 11.06 lakh units. Out of the total vehicles sold, 56 per cent were EVs. The prominent players in this segment were Mahindra Last Mile Mobility, YC Electric Vehicle, Saera Electric Auto, Champion Poly Plast, Dilli Electric etc. The list is seeing a significant rise in new entrants in this space, indicating the demand potential of the segment. Three-wheelers play an important role in last mile connectivity in India and are popular in both urban and rural areas.