Gurugram-based BluSmart Mobility has refuted media reports indicating early talks about being acquired by Uber.
The media was rife with reports suggesting that Uber Technologies was in the early stages of discussion about acquiring BluSmart Mobility. Blusmart, the EV riding hailing app, has a fleet of 5000 cars across Delhi, Mumbai, Bengaluru, and Dubai.
However, BluSmart rejected the report in a statement to media outlets. “We categorically deny any discussions or negotiations regarding an acquisition by Uber. The story is purely speculative and unfounded. As India’s leading EV ride-hailing and charging infrastructure platform, BluSmart remains focused on scaling operations, expanding its footprint, and advancing sustainable mobility,” the startup said.
Citing sources, a leading business newspaper report said that Uber is examining BluSmart’s assets, particularly its EV fleet, which could help the US-based cab aggregator expand its presence in the segment.
The deal, if it happens, could bolster Uber’s presence in India’s growing electric vehicle (EV) ride-hailing market and signal consolidation in the urban mobility sector, according to the news report.
BluSmart’s parent company, Gensol Engineering, recently announced plans to raise ₹600 crore, including by selling vehicles to Chennai-based Refex Industries. The company’s debt was recently downgraded to “default” status by ICRA and CARE.
The fleet, primarily sourced from Tata Motors and MG Motor, is owned by Gensol Engineering and leased to BluSmart. The company also manages a network of EV charging infrastructure in NCR and Bengaluru. BluSmart was founded in 2019.
