Market News
Recent Developments New product launches
- In 2022, Maruti Suzuki (The Company is engaged in the business of manufacturing and sale of passenger vehicles in India.) launched the E85 compatible Wagon R Flex Fuel prototype model, thus making it the first Indian automaker to unveil a flex-fuel car. This highlights Maruti's focus on sustainable mobility solutions.
- In 2021, Hero MotoCorp (an Indian multinational motorcycle and scooter manufacturer) unveiled its Xpulse 200 T BS-VI motorcycle model capable of running on multiple fuels including ethanol blends. This move aligns with Hero MotoCorp's commitment to sustainable mobility.
- In 2019, TVS Motor Company (an Indian multinational motorcycle manufacturer) showcased its flex-fuel motorcycle Apache RTR 200 Fi E100, featuring first-of-its-kind flexible fuel technology. This demonstrates two-wheeler OEMs' growing interest in alternative fuels.
Acquisition and partnerships
- In 2022, OMCs IndianOil, HPCL (Hindustan Petroleum Corporation Limited is an Indian public sector undertaking in petroleum and natural gas industry) and BPCL (Bharat Petroleum Corporation Limited is an Indian public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India.) partnered with automaker TVS Motor (an Indian multinational motorcycle manufacturer) to set up flex-fuel pumps in India, aiming to accelerate adoption of biofuels
- In 2022, Mahindra & Mahindra (an Indian multinational automotive manufacturing corporation) announced a partnership with Ontario-based FuelMaker Corporation (The company's line of business includes the manufacturing of motor vehicle parts and accessories.) to boost access to biofuels for Indian consumers through fuel dispensers
- In 2021, Hero MotoCorp (an Indian multinational motorcycle and scooter manufacturer) invested in Ather Energy, an Electric vehicle (EV) start-up, to jointly develop electric two-wheelers powered by flex-fuel technology.
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