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Companies News Today highlights on December 28, 2024: BluSmart set to launch EV-cab service in Mumbai, opens ‘invite-only’ exclusive registrations
Livemint
·
6m ago
Medial
BluSmart is preparing to introduce its electric vehicle (EV) cab service in Mumbai, marking significant expansion efforts. The company has begun exclusive, invitation-only registrations for this service. This update is a part of broader business news on December 28, 2024, which also includes analyses of financial performances, strategic acquisitions, mergers, and leadership changes within various industries, offering insights into the evolving business landscape.
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Crisis-hit BluSmart's users unable to book cabs, demand wallet refund
Inshorts
·
3m ago
Medial
Several customers of electric cab service BluSmart in Delhi-NCR, Mumbai and Bengaluru reported issues with cab bookings as the crisis-hit company began suspending its service. Some customers asked for a full refund of their wallet balance from the app. This comes after SEBI's action on BluSmart and Gensol Engineering promoters Anmol and Puneet Singh Jaggi over alleged misuse of funds.
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Uber in early discussions with EV ride-hailing startup BluSmart for a possible acquisition
Economic Times
·
4m ago
Medial
Uber Technologies is in early discussions to acquire BluSmart Mobility, an all-electric cab service operator based in Gurugram. This potential acquisition could enhance Uber's foothold in India's growing electric cab market and consolidate its position amid rising competition. BluSmart operates over 5,000 electric vehicles in India and has a broad EV charging network. Despite BluSmart's cofounder's denial of acquisition talks, Uber aims to bolster its electric vehicle segment through this potential deal.
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Uber, BluSmart, Statkraft, Farallon Capital in news
VCCircle
·
4m ago
Medial
Uber Technologies is reportedly in early talks to acquire Gurugram-based electric cab service provider BluSmart Mobility, according to The Economic Times. This potential acquisition is aimed at bolstering Uber's presence in India's electric vehicle (EV) cab sector. The discussions highlight Uber's strategic interest in expanding its EV capabilities within the country. BluSmart's co-founder, Anmol Singh Jaggi, is mentioned in relation to the ongoing discussions, emphasizing the significance of this potential deal.
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BluSmart May Come Back with EV Cab-Hailing Operations Next Month
OutlookIndia
·
2m ago
Medial
BluSmart, an EV cab-hailing start-up facing financial and leadership crises, is in talks with distressed funds to potentially resume operations next month. The Bengaluru-based company has halted its services since March due to heavy losses and executive resignations. Discussions with funds focused on climate and mobility could provide a financial lifeline. Meanwhile, BluSmart is also reportedly transitioning some of its fleet to join Uber’s network amidst its operational restructuring efforts.
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BluSmart raises ₹200 crore from MS Dhoni's family office, others
Internet
·
1y ago
Medial
Ride-hailing EV startup BluSmart has raised $24 million (₹200 crore) in Series B funding round led by former India cricket captain MS Dhoni's family office, ReNew Chairman Sumant Sinha and responsAbility. The fund will be used to expand operations and build EV charging infrastructure and assets, the company said. BluSmart has reportedly raised ₹710 crore so far since December 2023.
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BluSmart cab services stay suspended in Delhi-NCR, Bengaluru, Mumbai as cofounder under Sebi lens
Economic Times
·
3m ago
Medial
BluSmart cab services in Delhi-NCR, Bengaluru, and Mumbai are suspended due to the co-founder's scrutiny by a market regulator over alleged fund misuse. The sudden halt affects over 8,000 taxis and numerous drivers' livelihoods. Backed by BP Ventures, BluSmart assured customers of refunds within 90 days. The crackdown also involves Gensol Engineering's promoters accused of fund diversion. BluSmart's related party, Gensol, faces allegations of mishandled funds intended for electric vehicle procurement.
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BluSmart launches pet travel service in Delhi and Gurugram
YourStory
·
4m ago
Medial
BluSmart, an EV ride-hailing company, has launched a pet-exclusive service in Delhi and Gurugram, providing electric vehicles for pet travel. The service, aimed at making pet commutes convenient and safe, includes features like foldable dog seat hammocks and carrier space. This initiative follows similar launches by competitors Rapido and Uber in Bengaluru. BluSmart, founded in 2019, also operates in Mumbai and the UAE, and plans to raise $50 million in Series B funding.
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Evera Cabs takes over 500 BluSmart EVs
Entrackr
·
2m ago
Medial
Evera Cabs (Prakriti Mobility) has initiated the repossession of 500 electric cabs formerly operated by BluSmart, following the latter’s operational suspension in key metros. With 220 vehicles already acquired and the remaining 280 set to be reclaimed in the coming days, Evera is strengthening its position as the leading electric cab service provider, with a strong focus on airport mobility. The company is on an acquisition spree with a funnel of 1,000 BluSmart cabs, Evera said in a press release. This development follows BluSmart’s suspension of services in key metros such as Bengaluru, Mumbai, and Delhi. The BP Ventures- and Mayfield-backed company is also facing protests from its driver partners over unpaid dues and job losses. Evera is an all-electric, app-based taxi service currently serving Indira Gandhi International Airport, operating in the B2B segment since 2022. Evera said that the repossession of BluSmart’s cabs through its lenders is part of a multi-stage strategic plan to reinforce its footprint in NCR’s high-demand airport cab sector. The first phase involves the redeployment of these electric vehicles to strengthen operations, particularly in and around Indira Gandhi International Airport. According to the company, alongside fleet integration, a significant number of BluSmart drivers are transitioning to Evera, with around 150 already actively completing trips. In the next phase, Evera plans to double down on its airport network expansion to extend services across all terminals of Delhi’s airport. While Evera previously operated only from Terminal 3, the integration of new vehicles enables full-terminal coverage to ensure better availability and turnaround times for commuters.
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Phase out CNG-driven autorickshaws, ban petrol, diesel, or CNG two-wheelers in Delhi, Draft EV Policy 2.0 recommends
Business Today
·
3m ago
Medial
Delhi's EV policy proposes replacing CNG autorickshaws older than 10 years with battery-operated ones and halts new CNG autorickshaw registrations. Existing permits won't be renewed, transitioning to e-auto permits only. It also suggests that individuals with two cars must buy an electric vehicle for their third. The initiatives aim to reduce air pollution in the city by encouraging the switch to electric transportation.
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Ola Electric shares climb 9% today; is this EV stock a short-term buy?
Business Today
·
3m ago
Medial
Shares of Ola Electric climbed 8% after the company clarified that a temporary sales backlog in February was due to ongoing negotiations with vendors responsible for vehicle registrations. This update has driven a positive rebound in the share price, suggesting the resolution of issues impacting sales and potentially presenting the EV stock as a short-term buying opportunity for investors looking to capitalize on the company's recovery and market dynamics.
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