Blusmart, the electric mobility startup that promised a sustainable driver based on applications, suddenly suspended new reservations on its platform on its two largest markets-Delhi-NCR and Bengaluru. Although the application remains functional and available for download, users have not been able to reserve rides, selecting time slots or even choosing travel dates, effectively taking the service without notice.
If you are a regular user of blusmart, here is a quick ventilation of what is happening – and what you should prepare:
1. No new reservations – what it means for you
For the moment, the application of blusmart does not allow any new driving booking to Delhi or Bengaluru. This judgment comes without any public announcement of the company, leaving existing users in the dark of their current or future travel plans. If you have planned the upcoming rides, it is preferable to check the condition of your application, although many users do not report any clear information on cancellations or refunds.
2. Why did the service stop?
The suspension follows a survey with issues raised by SEBI (Securities and Exchange Board of India) in GENSOL Engineering – Main financial rental partner in Blusmart. Gensol, founded by Anmol and Puneet Jaggi (who also co -founded Blusmart), poorly used EV loans supported by the government worth more than 200 crores, according to the investigation.
Instead of obtaining 6,400 electric vehicles as expected, only 4,704 were delivered. The rest of the funds would have been spent on personal luxury items. Consequently, SEBI has prohibited the Jaggi brothers from holding key roles in listed societies – repressing a domino effect through leadership and blusmart operations.
3. Leadership Exodus and redesigns companies
In the wake of the scandal, Blusmart undergoes important internal disorders. The senior executives, including the CEO, the CTO, the Director of Business and the Vice-President of the Experience would have resigned.
This corporate upheaval leaves a vacuum to the management when the company faces one of its largest operational crises.
4. Blusmart to become the partner of the Uber fleet?
Blusmart seems to be moving away from its application -based model. According to reports, the company will become a fleet partner for Uber. The shareholders approved a gradual transition from 700 to 800 electric vehicles to the Uber platform in the coming weeks.
This marks a major change – of the construction of a sustainable autonomous EV driving brand to operate as a supplier under a global aggregator.
5. What about the reimbursements, supports and existing users?
Currently, Blusmart has not published any official communication on: Refunds for pre-reserved rides, the availability of customer support and the reactivation of services.
If you are an affected user, you may want to monitor the application or social networks of Blusmart for updates, but so far, silence has been deafening.
6. Overview
The heavy, heavy blusmart model depended on continuous capital to extend its EV fleet. With its disturbed financial pipeline and its credibility in question, its ability to offer the same reliability, the customer experience and the sustainability it has promised is now in danger.
