business / news / / CNBC TV18
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.
TVS Motor and Hyundai signed a joint agreement on April 20, 2026, for electric three-wheelers.
KEY POINTS
- 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
Summarized by Newsio from CNBC TV18. How we summarize →