BluSmart, the electric ride-hailing startup once seen as a rising challenger to Ola and Uber and closely linked with Gensol, has suddenly stopped accepting new ride bookings through its app in most areas of Delhi-NCR and Bengaluru.
While the app is still available on the Play Store, users are unable to choose a time slot or even a date—effectively signaling a pause in services.
This development follows closely on the heels of SEBI’s findings in the Gensol Engineering investigation, which raised significant concerns about BluSmart’s future.
Gensol, a key financial backer and EV lessor to BluSmart, is accused of diverting over Rs 200 crore that was meant for electric vehicle purchases.
On April 14, reports emerged that BluSmart is planning to exit its core cab business altogether and transition into operating as a fleet partner for Uber. According to sources, BluSmart’s shareholders have approved a phased transition of its current fleet—beginning with 700 to 800 vehicles—over to Uber.
The complete timeline for this move is still being finalised.
