Intimation under Regulation 30A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations )
HYUNDAI · price
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Hyundai Motor India Ltd disclosed that its parent company Hyundai Motor Company (HMC) has entered into a Joint Development Agreement with TVS Motor Company on April 20, 2026, to develop electric three-wheelers for India and other markets. Under the agreement, HMC will lead vehicle concept design while TVS will handle procurement, manufacturing, sales and distribution. HMIL clarified it is not a party to this agreement. The partnership includes a non-compete clause in the three-wheeler segment and a right of first refusal for TVS on certain vehicle categories developed using styling intellectual property. The company stated these restrictions do not materially impact its current business as it does not manufacture these vehicles.
This disclosure clarifies that HMIL has no direct involvement in the electric three-wheeler partnership, though shareholders should note that certain IP and non-compete restrictions could apply to future vehicle development at HMIL. The stock is unlikely to see immediate impact as the agreement is between HMC and TVS, not HMIL.