Venu Srinivasan: Keep EV and Ethanol Options Open for India

TVS Motor Company chairman Venu Srinivasan has said India should not close the door on any clean-fuel technology, arguing that both electric vehicles and ethanol deserve room in the country's mobility plans.

The remark, reported by chinimandi.com on October 5, 2026, puts the head of one of India's largest two-wheeler makers at the centre of a policy debate that has split the auto industry for years.

India sells more two-wheelers than cars, and most of them still run on petrol. That makes the segment the biggest single lever for cutting oil imports and tailpipe emissions. It also makes it the hardest to switch.

Two roads, one market

Electric two-wheelers have gained ground fast in Indian cities, helped by subsidies and lower running costs. But charging networks remain thin outside metros, and battery prices still keep upfront costs high for many buyers.

Ethanol blends offer a different route. India has pushed E20, a mix of 20% ethanol in petrol, and the government has set targets to raise ethanol output from sugarcane, surplus grain and other feedstocks. For a country that imports over 80% of its crude, every litre of ethanol substituted is a litre not shipped in.

Srinivasan's position is that neither path should be foreclosed. That view carries weight because TVS builds both electric scooters and petrol models, and has invested in ethanol-compatible technology.

Why the industry is split

Some manufacturers have gone all-in on electric. Others lobby hard for ethanol, biofuels and hybrids, arguing that India's grid is still coal-heavy and that a sudden EV shift would hurt smaller suppliers.

The stakes are large. India's two-wheeler market runs into tens of millions of units a year. A policy tilt toward one fuel can decide which factories, jobs and supply chains survive.

• Electric two-wheelers cut local emissions but depend on grid power and battery imports.
• Ethanol blends cut oil imports and use farm output, but need engine changes and steady feedstock supply.
• Both need government support to scale beyond early adopters.

Srinivasan's call for keeping options open is not new for him. He has previously spoken about the need for a technology-neutral approach, warning against mandates that could strand existing manufacturing capacity.

That stance puts him at odds with parts of the EV lobby, which wants a firm deadline for phasing out petrol two-wheelers. It also sits awkwardly with ethanol critics, who point to water use in sugarcane farming and competition between fuel and food.

What happens next

New Delhi has so far avoided picking a single winner. Policy has backed EVs through subsidies while also pushing ethanol blending targets and flex-fuel vehicles. That dual track looks set to continue.

For TVS, the calculation is practical. The company sells in rural and semi-urban markets where charging infrastructure is scarce, and where ethanol-blended petrol is already at the pump. Betting on one fuel alone would risk losing those buyers.

Srinivasan's message to policymakers is simple: let the market and infrastructure decide the pace, and keep both doors open.