The Rise and Fall of BlueSmart Mobility

BlueSmart Mobility, an innovative ride-hailing platform that aimed to disrupt the Ola-Uber duopoly, has encountered significant challenges. Launched with an electric fleet and a full-stack model, BlueSmart distinguished itself by eliminating cancellation fees and surge pricing. However, recent developments, including the resignation of top executives and internal restructuring, indicate financial struggles, particularly influenced by its relationship with parent company Gensol Engineering. Gensol’s own financial instability has led to BlueSmart potentially facing increased leasing costs, which could further exacerbate its widening losses.