BluSmart Deal: Uber's Electric Dream Takes Shape

Uber is making initial talks to acquire BluSmart Mobility, an electric vehicle ride-hailing firm, to further boost its electric cab services in India. This may mark the beginning of consolidation in the urban mobility space and support Uber to fight better against competition from companies like Rapido. BluSmart owns a fleet of more than 8,500 electric vehicles serving Delhi-NCR, Mumbai, and Bengaluru, and developed a network of EV charging. The deal will enable Uber to utilize BluSmart's assets, especially its fleet of electric cars, to firm up its stake in the Indian market. None of the prospective deal terms were disclosed.

 

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Source: The Economic Times