Uber Plans to Acquire BluSmart – A Lifeline for Gensol’s EV Business?

Uber is in early discussions to acquire BluSmart Mobility, an all-electric cab service with over 5,000 vehicles in India. This move could bolster Uber's electric vehicle presence and signal consolidation in the ride-hailing sector. The talks come as Gensol Engineering, BluSmart's parent company, faces liquidity issues and plans to sell vehicles to Refex Industries. While BluSmart denies acquisition talks, a deal could provide Gensol with financial relief and enhance Uber's competitive edge in India's growing EV market.

 

Source: Fortune India