India's top EV ride-hailer seeks $300 million to expand car fleet
Notable because
BluSmart, India’s leading EV fleet operator, is driving the EV transition forward with aspirations to grow from 7,500 to 13,000 EVs and double revenue by March 2025. Despite India’s FY24 commercial E4W sales totalling just ~10,000 units, BluSmart’s vision to operate ~25,000 EVs in three years signifies confidence in the future of sustainable mobility. Additionally, the roll-out of their new mobile app to enhance EV roaming and interoperability directly addresses key barriers for EV adoption such as charging.
What to look out for in the months ahead
Which Indian cities will BluSmart target for further expansion as they continue growing since April 2023? Can BluSmart’s EV-focused business model serve as a global blueprint as it expands into Dubai? How will the success of this overseas venture be measured? Will BluSmart explore expansion into E2W mobility solutions?