BluSmart (is dead)

[Sushubh]

Adding a pet to a ride costs 299 rupees to a ride.

 

[Sushubh]

Blu Smart repays after ‘default'. Now it has to convince bondholders | Company Business News

 

[Sushubh]

Uber in early discussions with EV ride-hailing startup BluSmart for a possible acquisition

Uber is in early talks to acquire BluSmart Mobility, boosting its electric cab presence in India. The move comes amid Gensol Engineerings financial troubles, increasing competition, and Ubers strategic focus on the mobility sector.

m.economictimes.com

 

[Navjot Singh]

NO.

 

[Sushubh]

Gensol fast-charged Blu-Smart. But their ties are a governance puzzle | Company Business News

 

[Sushubh]

BluSmart denies reports of acquisition talks with Uber - CNBC TV18

Reports stated that Uber is in the early stages of talks to acquire BluSmart, as its parent company, Gensol Engineering, is looking to exit the capital-intensive business.

www.cnbctv18.com

Denial aa gaya ab press release aayegi.

 

[Jonas]

End trip for BluSmart? Behind the EV ride-hailing company’s deepening crisis

Gensols debt crisis forces it to sell 3,000 EVs, impacting BluSmart, which faces declining rides and competition from Rapido. Leadership exits and funding challenges further strain BluSmart, forcing it to scale back expansion plans.

m.economictimes.com

Such a mess.

 

[Sushubh]

i mean i get the cost of leasing cars and platform and charging infra and everything else. but if they cannot survive charging 20+ per KM while their own costs are probably 2 rupees... maybe they should shut down.

 

[Navjot Singh]

'Mutually decided not to proceed': Gensol shares update on takeover of EV assets by Refex Green

Not selling. Blusmart will keep the cars for now.

 

[Jonas]

@Sushubh The fiasco is that Gensol’s money was used to lease cars for BluSmart under no contract or agreement. In other words, gift. Correct me if I’m wrong.