# TVS Motor has entered into a joint development agreement with Hyundai Motor Company Ltd. The agreement was signed on April 20, 2026, and follows the presentation of the electric three-wheeler concept at the Bharat Mobility Global Expo 2025.

*business · news · 2026-04-20 · CNBC TV18*

## Key points

- TVS Motor and Hyundai signed a joint agreement on April 20, 2026, for electric three-wheelers.
- TVS Motor gains exclusive manufacturing and India sales rights; Hyundai gets exclusivity in Korea.
- Hyundai will lead concept and human-centric design, while TVS leverages its local engineering platform.
- The agreement features per-unit royalty payments based on sales in each company's exclusive territories.
- No fixed term is set for the agreement, which will persist until termination by either party.

**Companies:** Hyundai Motor Company Ltd, TVS Motor Company Ltd
**Countries:** India, South Korea

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/stocks/tvs-motor-share-price-hyundai-motor-sign-pact-for-electric-three-wheeler-development-in-india-ws-l-19889939.htm)

---

Canonical: https://newsio.io/n/c5f608f2-dd4c-4541-9f2c-b9d659611762/tvs-motor-has-entered-into-a-joint-development-agreement-with-hyundai-motor-comp
Summarized by Newsio from CNBC TV18. https://newsio.io/how-it-works