BluSmart crosses ₹500 crore in annual run rate, aims to reach 10,000 EV fleet by 2024-end

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

BluSmart, India’s born-electric eMobility ride-hailing service and EV charging infrastructure network, announced that it has crossed an Annual Run Rate (ARR) of ₹500 crore achieving 102% growth over the previous year.

BluSmart’s gross business value (GBV) witnessed phenomenal growth, delivering a CAGR of 300% over the past three years, and is well poised for continued growth, the company said in a statement.

BluSmart is said to have the largest EV (electric vehicles) fleet in South Asia with over 7,300 EVs, which have covered 460 million clean kilometres saving 34 million kgs of CO2 emissions.

BluSmart, which competes with Uber and Ola, as well as new entrants like Rapido and Namma Yatri in the cab-hailing space, operates in Delhi NCR and Bengaluru.

Earlier this year, BluSmart became the first mobility player in India to achieve 100% emissions-free status, through its efforts towards sourcing 100% green energy, according to the company statement.

The company aims to expand its EV fleet to 10,000 by the end of 2024.

“BluSmart’s achievement of crossing ₹500 crore in ARR marks a pivotal moment in our journey. We are witnessing a rise in demand for sustainable mobility solutions, reinforcing the growth of a greener, more sustainable future. Fueled by this momentum, we are poised to deepen our impact by expanding our EV fleet and charging infrastructure, catering to our ever-growing customer base,” said Anmol Singh Jaggi, Co-founder of BluSmart.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow