Hyundai Motor is considering an entry into India’s burgeoning last-mile mobility segment with plans to introduce an electric three-wheeler, according to a report by Autocar Professional. India, Hyundai’s third-largest global market, is a key focus as the automaker accelerates its EV strategy with locally produced models and potential expansions into commercial vehicle categories.
The South Korean automaker is reportedly in discussions with TVS Motor to establish a joint venture for outsourcing the electric three-wheeler. Hyundai plans to design and engineer the vehicle in-house, potentially sharing its micro-mobility platform with TVS Motor.
The collaboration may extend to developing a quadricycle, with design concepts for these vehicles expected to be unveiled at the Bharat Mobility Global Expo later this month.
Hyundai has yet to confirm the timeline for launching its last-mile electric vehicles in India. However, industry players like Mahindra & Mahindra, which holds over 40% of the market share, and Bajaj Auto, are well-entrenched in the segment. Ola Electric also has plans to debut an electric three-wheeler later this year, further intensifying competition.
The potential for Hyundai’s foray extends beyond vehicle production. The automaker is considering a ride-pooling platform in India, similar to its AI-based ‘Shucle’ service operating in South Korea.
