Uber Initiates Talks To Acquire BluSmart, Says Report; Startup Denies

This article discusses the report of ride-hailing giant Uber initiating talks to acquire EV cab-hailing startup BluSmart Mobility. The report indicates that Uber is evaluating BluSmart Mobility's assets, particularly its 8,500-strong electric vehicle fleet. This development occurs as Gensol Engineering, holding a significant portion of BluSmart's EV fleet, faces liquidity challenges. However, BluSmart has denied these reports, calling them "speculative and unfounded." BluSmart, founded in 2019, offers EV ride-hailing services and charging infrastructure across Delhi NCR, Bengaluru, Mumbai, and Dubai. It operates over 8,500 EVs and has a network of 5,800 charging stations across 50 hubs. Despite reports of defaulting on bonds, BluSmart clarified that payments were made. The company is also reportedly in the process of raising $50 Mn in its Series B funding round.