BluSmart secures ₹100cr EV financing through leasing initiative

Under the ‘Assure by BluSmart’ initiative, the partner can buy and rent electric vehicles to BluSmart.

Electric ride-hailing and charging network BluSmart announced that it has raised ₹100 crore in electric vehicle (EV) financing under its ‘Assure by BluSmart’ asset leasing initiative.

This program aims to promote EV adoption by enabling partners to purchase electric vehicles and lease them to the company.

Key Highlights of the Initiative

1. Rapid Growth:
   • Within its first year, the initiative has scaled significantly, growing 10x in monthly financing and partnering with over 25 large entities.
   • The program’s book value has surpassed ₹100 crore, reflecting strong investor interest.
2. Diverse Support:
   • Backed by green financing institutions, transport and logistics operators, and family offices.
   • Helps BluSmart diversify its fleet, including more premium EV options.
3. Sustainable Investment:
   • Co-founder Anmol Jaggi remarked that the initiative’s success highlights India’s growing interest in sustainable investment opportunities.

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About ‘Assure’ Program

• Partners purchase EVs and lease them to BluSmart, offering a unique business model that bridges green mobility and investment opportunities.
• BluSmart continues to expand its EV ride-hailing fleet and associated infrastructure, addressing both environmental concerns and urban mobility needs.

This financing initiative reinforces BluSmart’s commitment to sustainable transportation and its vision to establish a reliable, all-electric ride-hailing ecosystem in India.