Daybreak
Blusmart’s unfair advantage has now become its biggest roadblock
Mar 28, 2025
Discover the struggles of BlueSmart, India's first EV ride-hailing platform, facing executive turnover and fierce competition. Explore the booming private banking sector as wealthy clients demand personalized services. Uncover the scandal surrounding major ad agencies accused of price-fixing just before India's biggest marketing event. Dive into the implications of these events on the future of electric mobility and advertising in India.
13:49
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Quick takeaways
- BlueSmart Mobility faces financial difficulties due to executive resignations and rising leasing costs linked to its parent company's instability.
- The booming demand for private banking services in India reflects the growing number of ultra-high net worth individuals seeking personalized financial management.
Deep dives
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.
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