The introduction of the EV cab company, BluSmart into the city comes at a time when Ola and Uber, which have mainly enjoyed a duopoly, have been criticized from customers over a number of issues, particularly around how surge pricing was determined.
EV cab company BluSmart starts operations in the regions of Bengaluru
After concentrating on Delhi NCR, BluSmart, an electric cab service provider, said that it has begun operating in some regions of Bengaluru. This comes after the business raised $25 million from bp ventures, the investment arm of the British oil corporation, and other parties to increase its footprint in India.
The introduction of the EV cab company into the city comes at a time when Ola and Uber, which have mainly enjoyed a duopoly, have been criticized from customers over a number of issues, particularly around how surge pricing was determined. Recent orders from the Indian competition commission (CCI) required taxi companies to, along with other things, develop a clear and open policy on surge pricing and offer a thorough breakdown of the charges.
BluSmart assures no cancellations, punctual service, and no surge fee. According to the company’s website, it completes 97% of its trips early or on schedule, and its drivers do not have a cancel option. The number of EV cabs that the Deepika Padukone-backed EV cab company has currently deployed in the city was not made public. It currently has 2,200 automobiles in its fleet overall and aims to have more than 5,000 by the end of this year. By the end of 2023, 30,000 electric taxis are expected to be deployed.
The largest EV fleet order in India to date was signed by Tata Motors and BluSmart in June, when 10,000 XPRES T EVs were to be delivered. Additionally, it has electric vehicles (EVs) from MG Motors, which is a joint venture between BYD Co. and SAIC Motor Corp. of China. Contrary to Uber and Ola, where drivers own the cars, BluSmart manages its own fleet of vehicles by hiring drivers.
“BluSmart is committed to increasing its robust, competitive presence throughout megacities in the country, and Bengaluru is the perfect fit. We are poised to offer the best customer experience for commuters in the city as we intend to clear any hassles that arise from booking a cab, to enjoying the ride and reaching the destination effortlessly. BluSmart is creating inclusive and equitable economic opportunities for driver partners who can drive and earn without the hassles of asset ownership,” said Anmol Singh Jaggi, CEO and co-founder, BluSmart.
According to the company’s website, India’s metropolitan areas will have a ride-hailing market of $90 billion by 2030, up from its current $20 billion. Other participants in the market include Myn and Meru in addition to Uber and Ola.