Hyundai Motor India Plans To Enter Into Electric 3-Wheeler Market With TVS Motors In 2025

Hyundai Motor India may partner with TVS Motor to enter the country's 3-wheeler and quadricycle market. Let’s explore a possible partnership in 2025.

Key Highlights

• Hyundai Motor India is in discussions with TVS Motor to set up a partnership to enter the country's three-wheeler and quadricycle market.
• TVS Motor may use a contract manufacturing arrangement to produce locally and Hyundai Motor India may handle the engineering and design aspects.
• Hyundai may leverage its foray into the last-mile transportation sector as a springboard to introduce its Shucle-like app-based platform in the Indian market. 

Hyundai Motor India intends to expedite the shift to zero-emission vehicles and enter the rapidly expanding electric last-mile mobility market to become more Indian in India. According to sources, the company is in discussions with TVS Motor and will probably partner with TVS Motor to enter the country's three-wheeler and quadricycle market.

Also Read: To Sum Up 2024: Major Electric 3-Wheelers Launched In 2024 For Indian Market

Hyundai Motor Partners With TVS Motor For EV 3-Wheeler

The focus of the discussion between both manufacturers is a possible joint venture for developing an electric 3-wheeler that TVS Motor may produce locally through a contract manufacturing arrangement. Hyundai Motor India will handle the design and engineering. 

Although the partnership’s specifics are still unknown, it is anticipated that Hyundai and TVS will share Hyundai's micro-mobility vehicle architecture, much like the Indian company has access to BMW's architecture through its two-wheeler manufacturing partnership with the German brand. 

What Can Be Expected In 2025?

At the Bharat Mobility Show 2025, Hyundai Motor India intends to display its concept vehicles for last-mile mobility. With ambitions to introduce its electric 3-wheeler in 2025, TVS Motor has also been observing the country’s electric last-mile mobility market. Hyundai may use its entry into the last-mile mobility market as a launching pad for the launch of its app-based platform in the Indian market, which is similar to Shucle. 

By combining the words ‘shuttle’ and ‘circle’, the name Shucle alludes to its function as a circular shuttle service in particular locations. Hyundai plans to use Shucle to get into the three-wheeler market, which is the fastest-growing electric vehicle sector in India.

Hyundai Motor Group introduced Shucle, a demand-responsive ride-pooling service, in March 2021. Shucle, an integrated mobility platform created by Hyundai's AI research lab, started operations in Sejong City, South Korea, and provides variable routing based on demand in real-time to handle local transportation issues. 

Recent Developments By Hyundai Motor India

Following the listing of the Indian subsidiary on the National Exchange in October 2024, Hyundai Motor Group Executive Chair, Euisun Chung, met with Indian Prime Minister Narendra Modi. According to an official release from Hyundai Motor India, the two held extensive conversations about the future of mobility. 

In light of India's diverse market conditions and reformist stance, Chung emphasised the Group's importance of collaborating closely with the country. They talked about the growth of the Indian automobile sector and potential collaboration between Hyundai Motor Group and India. 

It is possible that the recent conversation with the prime minister led to the new last-mile mobility effort. With every second unit sold in India being a zero-emission vehicle, the electric three-wheeler market is still seeing the quickest shift to EVs. 

Bottomline

With a market share of more than 40%, Mahindra & Mahindra leads the segment at the moment, and Bajaj Auto is entering it quickly. Additionally, startups like Euler and AltiGreen have succeeded in establishing a niche. The other two big companies vying for market share in the last-mile mobility space are Hero MotoCorp and Ola Electric.

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