Hyundai Motor and TVS Motor have signed a joint development pact to commercialise electric three-wheelers in India, targeting improvements in last-mile transport. Hyundai will spearhead design and technology, while TVS contributes its electric platform and deep local market expertise. The partners plan to prioritise local manufacturing to cut costs and create jobs, with the first vehicle expected soon.
Hyundai Motor India shares gained 2.6% after a weak start as investors welcomed an Indian in the top role. The company also signaled that growth will resume, banking on fresh product launches—especially expansion into MPVs and off-road SUV segments—aimed at reversing pressure from rivals like M&M and Tata.
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After years dominating India’s small-car market, Maruti Suzuki is pushing into the mid-size SUV battleground with its Victoris. The strategy leans on youthful design, fresh tech, and Maruti’s proven value-for-money approach to challenge Hyundai’s Creta. The question now is whether the new SUV can break into a fiercely competitive segment dominated by strong incumbents.
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