Hyundai Motor to enter India’s three-wheeler EV
(MENAFN) Hyundai Motor India, the Indian subsidiary of South Korea's Hyundai Motor Group, is setting its sights on entering India’s rapidly expanding three-wheeler electric vehicle (EV) market as part of its strategy to accelerate the adoption of zero-emission vehicles. Sources familiar with the development have revealed that Hyundai Motor India is in talks with TVS Motor Company, a local manufacturer of three-wheelers and four-wheelers, to form a potential partnership. While the specifics of the partnership have not been fully disclosed, it is expected that Hyundai will share the chassis of its upcoming small vehicle with TVS, similar to the collaboration between TVS and German motorcycle manufacturer BMW for producing BMW-branded motorcycles in India.
Hyundai aims to present prototypes of its new small vehicles, designed for last-mile delivery services, at the Bharat Transport Expo in India. This marks a significant step in Hyundai’s efforts to introduce innovative transportation solutions in the country. These vehicles will be part of Hyundai's broader initiative to contribute to the transformation of India's transportation landscape toward more sustainable options.
Meanwhile, TVS Motor Company is also making moves to enter the electric vehicle market. The company plans to launch its own three-wheeled electric vehicle for last-mile delivery services by 2025, signaling increased competition in the fast-growing sector. TVS’ efforts align with the growing demand for eco-friendly and efficient transport solutions in India.
Hyundai's venture into the electric three-wheeler segment could also lay the groundwork for introducing its app-based platform, including Shukl, for smart transportation services in India. Shukl, which was launched by Hyundai Motor Group in March 2021, is a smart transportation service developed by the company's AI research lab, offering potential for further expansion in the Indian market.
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