Toyota made a splash in India recently by showcasing a flex-fuel hybrid vehicle. This amounted to a logical step in its efforts to highlight its work in the area of alternative fuel technologies soon after it supplied the Union Transport Minister, Nitin Gadkari, with a hydrogen fuel cell car. The year 2022 has been a year of much action and words in the area of alternative fuels in India. The Brazilian Ambassador to India, d. Andre Aranha Correa Do Lago, said in his speech at the recent SIAM Annual Convention that Brazil and India are the two largest sugarcane producers and have the potential to produce enormous amounts of ethanol. “Brazil will work with India on flex-fuel technology, sustainable aviation fuels, second generation ethanol, hybrid flex-fuel vehicles, fuel cells etc.,” he averred. 

At the same event, Gadkari mentioned that through innovation, science, research, technology and entrepreneurship, the auto industry should convert knowledge to fuel and devise alternative fuel technologies. Stating that the petroleum product import is amounting to INR 16 trillion and is a challenge for the country, he averred, “I am happy to see good growth of electric vehicles across segments. Around 1.5 million EVs have been registered and the overall sales figure is up by 162 percent. The sales growth of electric two-wheelers is 425 percent, electric three-wheelers is 75 percent, electric four-wheelers is 230 percent and electric buses is 1,600 percent. The number of new start-ups in the domain is 250.” In October 2022, Chinese electric automaker BYD announced the launch of its second electric vehicle in India in the form of an electric SUV called the Atto 3. It will commence sales starting January 2023. 

As electric vehicles continue to gain strength across segments, it is the two-wheeler segment that seems to gain in sales numbers the most. No surprise then that Taiwanese electric two-wheeler major Gogoro is expected to launch electric scooters in India soon. The company has been having a tie-up with Hero MotoCorp in India for some time now and the two are said to be working on developing a battery swapping technology that is suitable for the local and regional requirements. Hero MotoCorp and Gogoro are not the only ones; there are other companies too – like Sun Mobility – that are already working on battery swapping technology. 

With the need for smart grids and a battery charging infrastructure growing as part of the thrust towards alternative fuel technologies to achieve net-zero carbon emissions, the question being asked is: which alternative fuel technology will finally triumph with efforts being made in various areas and directions? A portion of the auto industry is betting on hydrogen as the ultimate alternative fuel. Another portion of the industry is betting on flex-fuel and other alternative fuel technologies, including various gases like LNG and CNG. 

With countries like Russia banking on gaseous fuel as a means to reduce carbon emissions since they are available in abundance there, it is countries like India, which imports 85 percent of the fuels, that needs to find out what it has in abundance and select as the alternative fuel of choice, mentioned an industry expert from Europe. He added that a unique alternative fuel technology from India could actually lead to a global breakthrough and help mobility advance in a new direction altogether. With the possibility of such a disruption always present, the current situation is looking a bit unorganised with a variety of alternative fuels being taken into consideration. 

On one hand, CNG stations are being increased and commercial vehicle operators are taking to it, while on the two-wheeler level, it is the electric vehicle technology that is gathering pace. The most diverse are the efforts at the passenger car level, where Maruti Suzuki and Toyota seem to look at hybrid and flex-fuel, whereas the ones like BYD, MG and Tata Motors are looking at electric to go net-zero carbon. The investment in BS VI technology, which promised water at the tailpipe through emissions cleaner than the air, is yet to fructify for some or many automakers and the call for rapid development in alternative fuel technologies is being summoned. 

With sustainability being the mantra as the auto industry in India sees good days after a prolonged slowdown, the high inflation and resulting steep increase in vehicle prices is already threatening to spoil the party. A point of worry being that if the work on alternative fuel technologies is affected as inflation is likely to bite harder in 2023, the need to keep global temperatures from rising above the 1.5-degree Celsius mark stays. The auto industry is expected to contribute the most and also ensure sustainable, affordable and desirable mobility at the same time.  A tightrope walk beckons as the mantle of alternative fuel technologies can’t be abandoned. 

One thing is clear that what holds for India is what India has in abundance. Like Russia has gas, India could do well in developing technologies that can create gas from waste and other means available locally in abundance. Rather than politicising city waste that is often dumped just outside the city, it will serve if it could be turned into fuel to power automobiles as well as industrial furnaces and other machines. Afterall, despite all the efforts in electrification and other alternative fuel technologies, roughly 95 percent of the vehicles that continue to sell the world over are still powered by IC engines!

Digital lending platform Revfin has strengthened its management with the appointment of three senior executives as part of its FY2026 strategy, targeting INR 7.5 billion in disbursements and 5x growth over the past two years. The company also expects to cross INR 20 billion in cumulative disbursements since inception.

The new appointments include Abhinandan Narayan, Chief Business Officer – New Business, Monish Vohra, COO – Operations & Collections and Anirudh Gupta, Chief Finance & Strategy Officer. The appointments the company shared aligns with its focus on ‘People, Process, Profitability.’

Furthermore, Revfin has outlined its ambition to finance 24,000 EVs in FY2026. Till date, it claims to have financed over 85,000 EVs across 25 states, with 75 percent of borrowers from marginalised communities. Cumulatively, its driver partners have covered 1.6 billion electric miles and earned over USD 400 million.

In FY2025, the company grew its L5 EV loan book by 1,700 percent, supported by a partnership with Bajaj Auto and expanded collaborations with logistics firms. The L5 segment remains a key focus as a replacement for ICE vehicles in urban transport.

Sameer Aggarwal, Founder & CEO, Revfin, said, “The last financial year was a volatile one for the EV industry, but the excitement and energy within the sector remain undiminished. At Revfin, we are deeply convinced that intracity and small commercial vehicles must – and will – transition 100 percent to electric within the next three years. The opportunity is here and now. It’s time to set bold targets and pursue hypergrowth over the next two years. At this critical juncture, the right leadership becomes essential to realizing our ambitions. With the strong momentum we’ve already built, we’re confident the journey ahead will be even more rewarding. We’ve entered 2025 with a sharp focus on what truly matters: People, Processes, and Profitability. These latest leadership hires are a natural extension of that focus and our commitment to scale with purpose.”

Ahmedabad-based clean energy company Matter has launched its flagship electric motorcycle – the Aera, in Bengaluru at an introductory price of IRN 179,000 for the first 500 customers, post which it will be available at INR 188,000. The company has started taking pre-registrations for the e-motorcycle at INR 1,999.

Furthermore, the company has also announced that its first Experience Hub will come up at BTM Layout, which will showcase its tech prowess and philosophy firsthand.

The Matter Aera is claimed to be the world's first electric motorcycle with manual gears – 4-speed transmission, 3 ride modes that delivers 12 unique ride combinations. It features a 7-inch Smart Touchscreen Dashboard, onboard charger and liquid cooled powertrain. The e-motorcycle has a claimed IDC range of up to 172km, a zero to 40 kmph in 2.8 seconds, dual disc brakes with ABS, telescopic front fork and dual rear suspension.

Mohal Lalbhai, Founder & Group CEO, Matter Energy, said, “There’s no better city to lead this journey than Bengaluru—where innovation isn’t just an idea, it’s a way of life. Every lane, every rider here resonates with purpose and progress. The Aera isn’t just a bike – it’s the 22nd Century motorbike. It delivers the thrill of a rocket and the practicality your pocket loves. With our in-house developed Hypershift manual gearbox, liquid-cooled powertrain, and connected tech, AERA brings together performance, emotion, and sustainability like never before.”

The Kia EV3 has won the prestigious ‘2025 World Car of the Year’ award at the globally renowned 2025 World Car Awards ceremony, held during the New York International Auto Show (NYIAS).

A jury of 96 distinguished worldwide automotive journalists from 30 nations assessed the 2025 World Car Awards. With the EV3's triumph, Kia has now won six World Car Awards since 2020. The EV3 has a dramatic, forward-thinking design and a creative, useful interior that makes the most of available space, comfort and utility. The EV3 can charge from 10 to 80 percent in 31 minutes and has a segment-leading range of up to 375 miles (around 603 kilometres). While Kia's AI Assistant, advanced driving assistance systems (ADAS) and Over-the-Air (OTA) upgrades improve the ownership experience with cutting-edge technology, the vehicle's creative interior design maximizes room, comfort and accessibility.

Ho Sung Song, President and CEO, Kia, said, “It is an immense honour for everyone at Kia that the EV3 has been awarded the 2025 World Car of the Year title. This award highlights Kia’s global leadership in providing design-led, technologically advanced, sustainable mobility solutions and how the EV3’s class-leading attributes redefine the user experience for customers worldwide.”

The Hyundai INSTER sub-compact EV has won the prestigious 2025 World Electric Vehicle award at the globally renowned 2025 World Car Awards ceremony, held during the New York International Auto Show (NYIAS).

With this recognition, Hyundai Motor Company has dominated one or more World Car Awards categories for the fourth year in a row. Hyundai Motor's commitment to developing EV technology and sustainability is highlighted by the 2025 World Electric Vehicle award, which also acknowledges INSTER's exceptional value in the EV market. The finalists were chosen by a sealed-ballot jury consisting of 96 international automotive journalists from 30 different countries. On 16 April 2025, the winners were revealed at the 2025 NYIAS. With its unique design, remarkable driving range and state-of-the-art technology, INSTER is the market leader in the sub-compact EV sector. A 10- to 80-percent charge can be made in around 30 minutes thanks to INSTER's quick charging technology, and the 49-kWh long-range variant has a range of up to 370 kilometres.

José Muñoz, President and CEO, Hyundai Motor Company, said, “The Hyundai INSTER has been a winner with customers since we introduced it. It’s very gratifying that the experts on the prestigious World Car Awards jurors feel the same way. The combination of compelling design, range, enjoyable driving characteristics, intuitive infotainment and technology that customers appreciate is emblematic of Hyundai’s approach of delivering exceptional value to our customers. The fact that our global portfolio is successful both commercially and critically speaks to the hard-working people throughout the Hyundai value chain who are delivering some of the best vehicles on the road today. Thank you to all the jurors for your service to this great industry.”