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BluSmart may end cab-hailing trip, hit reverse gear

Economic Times · 26d

BluSmart, an electric ride-hailing startup, plans to transition its business from cab services to becoming a fleet partner for Uber due to financial challenges. With shareholders' approval, BluSmart will gradually transfer its fleet to Uber, starting with 700-800 vehicles. This move aims to alleviate BluSmart's monthly cash burn exceeding Rs 20 crore. The transition is crucial for BluSmart as it faces a cash crunch and failed capital funding, impacting operations and delaying salary payments.