BluSmart, an all-electric ride-hailing and EV charging infrastructure network, announced that its asset-leasing initiative, Assure by BluSmart has surpassed ₹100 crore in book value. Within the first year of launch, the program has grown exponentially, growing 10x times on a monthly scale of financing secured with 25+ large partners onboard.
The initiative has gained robust support from leading green financing institutions, transport and logistics operators, and family offices. On the back of Assure by BluSmart, the EV ride-hailing company has diversified its fleet portfolio to include more premium offerings such as MG ZS SUV vehicles, in addition to Tata Tigor and Citroen eC3.
Under this initiative, the partner can purchase electric cars and lease them to BluSmart. These EVs run on the BluSmart platform and serve trips to generate earnings, ensuring fixed monthly rentals for partners. The initiative promises a strong double-digit pre-tax IRR in addition to an accelerated depreciation benefit of 40% eligible only for EVs.
Anmol Jaggi, Co-founder, BluSmart said “The success of Assure by BluSmart demonstrates the strong appetite for sustainable investment opportunities in India, and the response to the initiative in its first year by our investors has been reassuring. We are confident that Assure by BluSmart will continue to play a vital role in achieving our mission to provide reliable, 100% emission-free transportation across markets.”
Founded in 2019 by Anmol and Puneet Jaggi along with Punit Goyal, BluSmart is an electric, full-stack, vertically integrated EV Ride-Hailing service and EV Charging Infrastructure network.
BluSmart follows an on-demand model. Unlike Ola, Uber, and Rapido, it offers scheduled pick-ups and drops and has a pure-play electric fleet.
It operates in Delhi NCR and Bangalore and made its first international foray with the launch in UAE in June 2024 as a premium all-electric limousine service. BluSmart has been granted a US patent for its pioneering allocation system for electric mobility by the United States Patent and Trademark Office (USPTO), underscoring our technological leadership and commitment to innovation and sustainability.
Comprising over 8,500 EVs, BluSmart has facilitated over 680 million clean kilometers and 21 million rides, reducing CO2 emissions by more than 49,000 tons. BluSmart’s charging network now includes 5,800 stations across 50 hubs in Delhi NCR and Bengaluru, covering over 2 million sq. ft. and supported by 10,000+ active driver partners.
