Euisun Chung Responds to Prime Minister Modi... Developing Three-Wheeled Electric Vehicles in India

Hyundai Motor Company Signs Development Agreement with India’s TVS Motor Company

Eight years ago, Euisun Chung, Executive Chair of Hyundai Motor Group, responded to a request from Indian Prime Minister Narendra Modi. Hyundai Motor Company is continuing its strategic collaboration with a local company to introduce micro-mobility solutions tailored for the Indian market.

On the 20th (local time), Hyundai Motor Company signed a Joint Development Agreement (JDA) for the development and commercialization of three-wheeled electric vehicles (EVs) with local three-wheeled vehicle manufacturer TVS Motor Company at the Bharat Mandapam Convention Center in Delhi, India.

Hyundai Motor Company’s India Market-Oriented Micro-Mobility Three-Wheel EV Concept.

The two sides began efforts toward collaboration after connecting at the Korea-India Business Forum held in Delhi in 2018, and have worked together over the past eight years. At that time, Prime Minister Modi emphasized to Chairman Chung (then Vice Chairman) the need for safe and eco-friendly mobility solutions to improve India's challenging traffic conditions. Deeply resonating with this, Chairman Chung instructed a review for developing new mobility optimized for the Indian market, initiating the project in earnest.

Hyundai Motor Company began developing locally specialized eco-friendly mobility, and when Chairman Chung visited India for the IPO of its Indian subsidiary in 2024, he met Prime Minister Modi again, where they shared Hyundai’s future vision and had in-depth discussions on the design direction of new mobility solutions, reaffirming their willingness to cooperate.

Hyundai Motor Company participated in the Bharat Mobility Global Expo 2025, where it announced its "India Micro-Mobility Vision," unveiled concepts for three-wheeled and micro four-wheeled EVs, and publicly revealed its cooperation plans with TVS. Micro-mobility refers to small, eco-friendly vehicles widely used for public transportation in India and across the Asia-Pacific region.

Through this agreement, Hyundai Motor Company and TVS plan to design vehicles customized for India’s road conditions and urban infrastructure, providing last-mile solutions that offer price competitiveness, sustainability, and safety. The newly developed three-wheeled EV is expected to feature a futuristic appearance and a wide range of safety and convenience features, providing Indian customers with a differentiated mobility experience.

In addition, both companies will source and manufacture key components locally to strengthen India's automotive parts industry ecosystem and create jobs, while also reducing vehicle costs and enabling rapid parts supply and aftersales service. In particular, the companies will work closely together to shorten the development schedule, and are considering the possibility of expanding into other markets in the future.

Hyundai Motor Company signed a Joint Development Agreement (JDA) for the development and commercialization of three-wheeled electric vehicles (EV) with the local three-wheeled vehicle manufacturer TVS Motor Company at the Bharat Mandapam Convention Center in Delhi, India, on the 20th (local time). From left, Sharad Mohan Mishra, TVS Chief Strategy Officer; K.N. Radhakrishnan, TVS CEO; Amitabh Lal Das, Chief Legal Officer of Hyundai Motor India; and Jungsun Ko, Executive Vice President of Hyundai Motor's Business Strategy, pose for a commemorative photo. Hyundai Motor Company

Joongseon Ko, Executive Vice President of Hyundai Motor Strategy & Planning, stated, "Hyundai Motor Company has been continuously seeking ways to improve the traffic environment in India, a core market, and our partnership with TVS is a strategic choice born from these efforts. We hope the three-wheeled EV jointly developed by the two companies will become an even safer and more sustainable means of transportation for the people of India."

This content was produced with the assistance of AI translation services.