TVS Motor Company Limited has informed the Exchange regarding Signing of Joint Development Agreement with Hyundai Motor Company

Marquee Jv AnnouncedStrategic Transactions View source PDF

TVSMOTOR · price

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AI summary

TVS Motor Company has signed a Joint Development Agreement (JDA) with Hyundai Motor Company on April 20, 2026, to develop, manufacture, and commercialise electric micromobility 3-wheelers. Under the agreement, Hyundai will lead the concept design while TVS will have exclusive worldwide manufacturing rights and exclusive rights to sell in India. Hyundai will handle sales in Korea and other territories. The partnership combines Hyundai's design and technology capabilities with TVS's engineering expertise, manufacturing setup, and distribution network. The deal follows the E3W concept showcase at Bharat Mobility Global Expo 2025, with both companies committing to localise component manufacturing in India.

Likely market impact

This strategic partnership gives TVS access to Hyundai's global EV design capabilities while leveraging its manufacturing strength in India, positioning it competitively in the growing electric three-wheeler market. The collaboration with a global marquee brand could boost investor confidence and accelerate TVS's EV roadmap.