Earlier this year Honda released a new motorcycle in to the Brazilian market – The CG150 Titan Mix, a motorcycle designed to run on ethanol, gasoline or a mixture of the two. The bike is being sold exclusively in the Brazilian market because of the huge market there (almost 2 million bikes sold in 2008 alone) and because of the substantial ethanol production there due to the use of sugar cane waste materials. The bike retails for about $3,500.
I love the economics and practicality of small displacement bikes like this. I would hope that technology like this could make it to the rest of the world.