BluSmart, an EV cab startup, is planning to shut down its own cab service and become a fleet partner for Uber, nearly six years after entering the market in 2019, according to The Economic Times.
Shareholders have approved the move, and the transition of BluSmart’s fleet to Uber will begin in the coming weeks, starting with 700–800 cars. The full timeline is still being worked out.
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The company is struggling financially, burning over ₹20 crore every month. Founders Anmol and Puneet Singh Jaggi had been funding the startup, but due to a major debt crisis at their other venture, Gensol Engineering, funds are now harder to access.
The financial crisis has also caused delays in salary payments, as investor confidence drops and new funding becomes harder to secure.
BluSmart started in 2019 as a fleet operator with electric vehicles on Uber and later launched its own ride-hailing service the same year. In 2022, it ordered 10,000 EVs from Tata Motors. By 2023, it raised $50 million. But after Gensol Engineering’s debt crisis in 2025, BluSmart began discussing a partnership with Uber.
About BluSmart
BluSmart is India’s first all-electric ride-hailing service, aiming to make urban transport more sustainable, safe, and affordable.
