Indian Cab Aggregator Secures $75 Million Loan To Acquire 6,000 EVs
with the duopoly of Uber-Ola for years. Unlike Uber and Ola, Blusmart owns the entire fleet of its cars, giving it greater control over management, operations, and quality of service.
Blusmart’s expansion plans take shape at a time when fuel prices in India are at a near all-time high. Prices of compressed natural gas , which powers most cabs in India, increased sharply during the post-COVID economic recovery. Eyeing the high dependence on imported fuel and increasing air pollution, the Indian government had announced an intention to ban the sale of cars based on internal combustion engines. However, limited support from automakers and the challenge of an insufficient charging infrastructure made the government backtrack on its ambitious plans.
The Indian government is now looking to offer incentives for the adoption of EVs. The Delhi government is
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