BluSmart’s collapse has flooded thousands of EVs into Delhi’s resale market. Reels promise Rs 50,000 bargains, sellers are swamped, and complaints get a blunt ‘take it or leave it’.
For customers, BluSmart was a success story that impacted their daily lives. In sync with the government’s clean mobility push, it was a flaunt for green-conscious riders.
A fallout of the BluSmart-Gensol saga is that entrepreneurs will have to face greater scrutiny from investors. It’s a wake up call for regulators & lenders, say market watchers.
BluSmart became a disruptor in the clean mobility industry with a fleet of all-electric cabs. Now, SEBI is probing Rs 978 crore loans and has barred the co-founders from accessing the market.
As a new entrant, BluSmart is looking to seize the moment by beating its combustion engine-powered rivals on electrification, cleanliness and reliability through direct management of its fleet and drivers.
With bad loans shrinking & capital buffers stronger, urban co-op banks’ new umbrella body NUCFDC is now prioritising rollout of digital transformation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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