If you're hunting for a budget‑friendly electric three‑wheeler to run a last‑mile delivery start‑up, the upcoming Hyundai‑TVS U834 could be the deal that finally makes it viable.
Hyundai Motor will spearhead the design while TVS Motor will co‑engineer the powertrain, and the duo plans to stamp out 3,000 to 4,000 units each month—around 36,000 to 48,000 a year—by the end of 2027 or early 2028.
The U834 will square off against the likes of Tata’s e‑Force 6 and 7, and Mahindra’s e‑Force, all of which have already carved out niche markets for cheap, low‑pollution pickups and cargo vans.
With the RBI’s recent 25‑basis‑point hike to 5.50%, the cost of borrowing for EV buyers could edge higher, but the anticipated production scale may keep retail price pressure low, while insurance premiums for EVs remain roughly 14% above ICE counterparts.
The launch is slated for 2028, with initial rollout likely in Delhi, Mumbai and Bangalore, so keep an eye on the battery supplier announcements and charging network expansion that will decide how quickly the U834 can hit the street.