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BluSmart faces a setback as Uber calls off fleet talks
Mint Mumbai
|May 05, 2025
Uber has called off discussions to transition about 5,000 electric cars of Gensol Engineering Ltd-owned BluSmart to its platform, according to two people aware of the development. The talks were called off due to concerns over the price being asked for the cars.
Talks had started as part of BluSmart's plan to revive operations of its cabs. BluSmart was supposed to act as a fleet partner for Uber.
"Uber has now withdrawn its interest," one of the people cited above said on the condition of anonymity. "Its main concern was the depreciation of cars in the BluSmart fleet. The price being asked for the transition did not meet its valuation."
This is the second setback for the embattled Anmol Jaggi-founded BluSmart in as many months. Last month, a ₹315-crore transaction to sell 2,997 cars to Chennai-based Refex Group, at a value of ₹10.5 lakh per car, was cancelled.
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