16 avr. 2025
It started its journey in January 2019 by operating EVs for Uber and building expertise.
Building on the foundation of operating EVs for Uber in Delhi-NCR and Bengaluru, BluSmart gradually ventured into offering its EV ride-hailing services. Its fleet then comprised the Tata e-Tigor and Mahindra e-Verito, among others. It also briefly expanded into Dubai.
The high cost of maintaining the unsellable EV fleet mounted its monthly losses to ₹20 crore. Financial distress at its promoter firm, Gensol Engineering, deepened its troubles.
BluSmart’s attempt to raise $50 million earlier this year did not fruit.
To reduce its operational and financial risk, BluSmart is planning a strategic partnership, which will allow it to operate its fleet for Uber.
Uber started its EV services, Green, in 2023, intending to deploy 25,000 EVs through partners like Lithium Urban Technologies, Moove, and Everest Fleet.
BluSmart will earn a portion of the fares for its owned or leased cars booked via Uber. Uber will retain the commission, as per usual.
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