Wheels of Fortune: Evera Bets Big on Gensol’s Dormant Drive

Electric cab startup Evera is making a bold move to expand its fleet and deepen its footprint in India’s clean mobility space. The Delhi-based company is currently in talks with Gensol’s insolvency resolution professional and committee of creditors to lease 1,000 electric vehicles from Gensol’s idle fleet. This strategic proposal could reshape Evera’s operational scale and breathe new life into assets that risk becoming obsolete.

The vehicles, part of Gensol’s 4,000-car inventory, are currently under review by the National Company Law Tribunal following a default on loans worth Rs 510 crore. If the deal goes through, it would mark a significant milestone in India’s electric mobility narrative, especially in the wake of BluSmart’s collapse and the vacuum it left in the EV cab segment.

Leasing over liquidation: Evera’s strategic pivot

1. Gensol initially considered selling its fleet, but Evera has proposed a leasing model to put the cars back into operation  
2. The insolvency resolution professional, Keshav Khaneja, and the committee of creditors are evaluating both options  
3. Evera’s CEO Nimish Trivedi emphasized that leasing would allow the vehicles to generate revenue while preserving their value  
4. The company plans to assess the cars in batches and submit a competitive lease proposal to the NCLT  

Operational expansion and service diversification

1. Evera currently operates 500 electric vehicles, many of which were leased from BluSmart’s lenders after the latter entered insolvency  
2. The proposed 1,000-car lease would more than triple Evera’s fleet, enabling it to scale its newly launched hourly rental service  
3. The additional vehicles would also support Evera’s B2B operations, which cater to corporate clients seeking employee transport solutions  
4. The company’s B2C segment remains focused on airport rides, with a strong presence at Delhi’s Indira Gandhi International Airport  

Market optimism despite recent turbulence

1. Trivedi noted that BluSmart’s downfall was driven by governance issues rather than market demand, signaling continued opportunity in the EV cab space  
2. Evera’s surge-free pricing, zero-cancellation policy, and customer-centric approach have helped it build a loyal user base  
3. The company is also absorbing former BluSmart drivers, with a focus on inclusive hiring—10 percent of its new recruits are women  
4. Industry watchers see Evera’s move as a stabilizing force in a sector that has seen rapid shifts and consolidation  

Gensol’s insolvency and asset risk

1. Gensol, a solar EPC firm, was admitted into insolvency by the Ahmedabad bench of the NCLT in June 2025  
2. The petition was filed by the Indian Renewable Energy Development Agency over unpaid loans  
3. If the vehicles remain idle, their value could deteriorate, making Evera’s lease proposal a timely intervention  
4. The deal could also set a precedent for how clean mobility assets are repurposed during financial restructuring  

Looking ahead: what this means for urban mobility

1. Evera’s expansion could help fill the void left by BluSmart in key metros like Delhi, Mumbai, and Bengaluru  
2. The company’s emphasis on sustainability, reliability, and operational depth positions it as a resilient alternative to traditional cab aggregators  
3. With international interest in India’s EV transition growing, Evera’s model could attract further investment and partnerships  
4. The outcome of the NCLT review will determine whether Evera’s proposal becomes a blueprint for fleet revival in the EV sector  

Conclusion

Evera’s bid to lease 1,000 electric vehicles from Gensol is more than a fleet expansion—it’s a strategic realignment of India’s electric mobility landscape. By repurposing idle assets and scaling its services, Evera is positioning itself as a frontrunner in sustainable urban transport. As the NCLT deliberates, the industry watches closely, hopeful that this move could spark a new wave of innovation and resilience in the EV cab ecosystem.

Sources: Economic Times, Entrepreneur India, Viestories