Hyundai may partner with TVS for new electric three wheeler

Hyundai is likely to be in charge of engineering and design, while TVS could make the model locally under a contract manufacturing agreement.

Published On Jan 03, 2025 03:30:00 PM

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Representational image.

Hyundai India could join hands with TVS Motor to jointly develop an all-new electric three-wheeler, our sister publication, Autocar Professional, exclusively reports. The all-new electric three-wheeler is likely to be manufactured by TVS, with Hyundai being in charge of design and engineering. By entering the three-wheeler market in India, Hyundai will also have a presence in the fast-growing last-mile mobility space, accelerating its transition to zero emission vehicles.

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Sources tell us that the talks between both brands have centered on a potential partnership where TVS can make the electric three-wheeler locally under a contract manufacturing agreement. Hyundai's micro-mobility vehicle architecture is expected to be also shared with TVS, much like how the Indian company has access to BMW’s architecture under its two-wheeler manufacturing tie-up with the German brand.

Neither Hyundai Motor nor TVS Motor responded to an email seeking clarification on these developments.

Hyundai, along with its Creta EV and a few other models, has plans to showcase its last-mile mobility concepts at the upcoming Bharat Mobility Global Expo. On the other hand, TVS has also been eyeing the electric last-mile mobility space and has plans to launch its own electric three-wheeler in 2025.

Entering the last-mile mobility market may also provide a springboard for Hyundai’s introduction of its app-based platform, similar to Shucle, in the Indian market. In March 2021, Hyundai Motor Group launched Shucle, a demand-responsive ride-pooling service. Developed by Hyundai's AI research lab, Shucle began operations in Sejong City, South Korea, as an integrated mobility platform that addresses local transportation challenges by offering flexible routing based on real-time demand.

The name "Shucle" combines "Shuttle" and "Circle," reflecting its role in providing circular shuttle services within specific areas. Through Shucle, Hyundai will look to participate in India's fastest-growing electric vehicle segment – three-wheelers.

In this segment, Mahindra is the segment leader currently with over 40 percent share, and Bajaj Auto is rapidly expanding into the segment. Startups like AltiGreen and Euler have also been able to carve out a niche for themselves. Ola Electric and Hero MotoCorp are the other two major players in the last-mile mobility segment looking to make an impact.

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