Hyundai Motor India Ltd

⚡ Hyundai & TVS Partner to Develop Electric Three-Wheelers for India & Global Markets

• Hyundai Motor Company and TVS Motor Company entered into a Joint Development Agreement on April 20, 2026

• Partnership focuses on developing electric three-wheelers for India and additional markets

• Hyundai will lead concept design while TVS leads procurement, manufacturing, sales & distribution

• Hyundai Motor India Limited (HMIL) is not a direct party to the agreement

• Agreement includes non-compete clause in three-wheeler industry and right of first refusal to TVS

• No shareholding relationship between HMC/HMIL and TVS

• Transaction does not constitute related party transaction

• Agreement does not materially impact HMIL's current business operations