Evera Cabs submits offer to lease 1,000 BluSmart EVs

Evera Cabs has submitted an offer to the interim resolution professional (IRP) overseeing Gensol Engineering's insolvency proceedings to lease 1,000 electric cars previously run by the now-defunct cab-hailing service BluSmart.

- UDISHA SRIVASTAV

Ride-hailing startup BluSmart and renewable energy firm Gensol were owned by the same promoter group. BluSmart had leased over 4,000 cars from Gensol.

The fleet, financed by public sector lenders Power Finance Corporation (PFC) and Indian Renewable Energy Development Agency (Ireda), could support Evera’s expansion plans while offering lenders a potential recovery route.

"We have sent a proposal to the IRP for a monthly lease plan to get cars financed by PFC and Ireda. After the IRP, the proposal will be approved by the Committee of Creditors (CoC). We hope to hear from the con-