TVS Motor Company signed a Joint Development Agreement with Hyundai Motor Company to develop and manufacture electric micromobility 3-wheelers. TVS retains exclusive manufacturing rights worldwide and distribution rights in India. This strategic alliance leverages Hyundai's design expertise and TVS's manufacturing capabilities to target the growing electric vehicle segment.
TVS Motor Company signed a Joint Development Agreement with Hyundai Motor Company to develop and manufacture electric 3-wheelers. The partnership leverages Hyundai's design expertise and TVS Motor's manufacturing platform to target India and emerging markets. TVS Motor will lead local sales and global manufacturing, while both parties share royalties based on sales territories.