Hyundai announces global expansion and electric three-wheeler partnership

Hyundai has announced an ambitious global expansion strategy, highlighted by a partnership with India’s TVS Motor Company to develop the E3W, an electric three-wheeler designed for last-mile mobility in Asia and Africa. The E3W is intended for use as collective taxis, couriers, and emergency services in crowded urban environments. The joint development agreement, formalized in April 2026, leverages Hyundai’s design and technical expertise alongside TVS’s manufacturing platforms and commercial networks. Production is slated for India to tap into the country’s rapidly growing electric three-wheeler market.

On a broader scale, Hyundai aims to launch over 100 new models globally by 2030, targeting a 6% global market share with annual sales of 5.5 million vehicles. A significant portion of this growth will focus on North America, where the company plans 58 new launches and intends to increase production by 500,000 vehicles per year. To support this, Hyundai will expand capacities at its Alabama and Georgia facilities and implement ten new hybrid powertrain lines by 2030.