BluSmart, India’s leading electric car operator, has extended its operations to the UAE, introducing the country’s first fully electric premium limousine service. This launch is a key component of the company’s ambitious plan to raise over $300 million in the next three years to boost its fleet to 25,000 EVs by 2025.
The launch of an all-electric limousine service in Dubai marks the UAE’s first 100% electric full-stack premium limousine service, a significant milestone in the region’s shift towards sustainable transportation solutions.
Anmol Singh Jaggi, co-founder of BluSmart, expressed enthusiasm about the company’s international expansion, highlighting the UAE’s role as a leader in mobility innovation and sustainable urban development.
“The future of transportation is electric, and we are excited to be at the forefront of this EV revolution by launching our service with ultra-premium EVs – Audi e-tron,” Jaggi said. “While the UAE is BluSmart’s first step in the Middle East, they also “aim to expand to other parts of this region by partnering with governments, businesses, corporates/brands, and consumers, to build a greener, more sustainable future for all”.
BluSmart’s all-electric limousine service in UAE
- BluSmart’s chauffeur-driven luxury service in Dubai launches with a fleet of premium Audi e-tron cars.
- Features include zero driver cancellations, transparent upfront pricing, punctual arrivals, and a CO2 tracker displaying emissions saved per ride.
- The service caters to Dubai’s diverse population, offering city rides, airport transfers, hourly rentals, and inter-emirate drop-offs
- Rides can be easily booked via the BluSmart App, available on both the Apple App Store and Android Play Store.
- The company will initially deploy approximately 100 Audi EVs in Dubai with plans to scale up to 300 EVs, including both Audi and Tesla models.
BluSmart goes international to electrify rides in Dubai. #RideSmartDubai. Ride BluSmart. #BluSmartDubai #BornElectric #DecarbonisingMobility pic.twitter.com/UX3dx9eGqS
— BluSmart (@BluSmartIndia) June 3, 2024
BluSmart seeks $300 million to expand fleet to 25,000 EVs
BluSmart, South Asia’s largest all-electric ride-hailing service and EV charging infrastructure network, is gearing up for a major expansion. The e-mobility company, backed by BP Ventures, plans to raise over $300 million in the next three years to bolster its fleet and challenge competitors like Uber. BluSmart aims to increase its electric vehicle (EV) fleet to 25,000 by 2025, a significant jump from its current 7,500 cars.
Punit Goyal, co-founder of BluSmart and a clean energy entrepreneur, revealed in an interview with Bloomberg that the company is eyeing significant growth to compete effectively in the burgeoning Indian mobility market. The expansion plan also includes geographical diversification beyond its current operations in Delhi and Bengaluru to the United Arab Emirates (UAE).
BluSmart sets itself apart in India’s EV sector by adopting a unique approach to vehicle sourcing. Unlike its competitors, the company doesn’t manufacture its own vehicles. Instead, it forges strategic partnerships with industry leaders like Tata Motors, BYD, MG Motor, and Citroën, leveraging their expertise to supply its expanding fleet.
BluSmart is strategically developing two interconnected businesses: an all-electric ride-hailing service featuring a fleet of owned/leased EVs, alongside a vast charging infrastructure network fueled by renewable energy.
Goyal emphasized BluSmart’s commitment to delivering quality services over cost-cutting measures. The company projects its annual revenue to reach $110 million by March 2025, driven by its customer-centric approach and innovative business model.
To fuel its ambitious growth plans, BluSmart is currently in the process of raising $25 million in funding. The investment round includes contributions from founders, existing investors, family offices, and other startup founders.
BluSmart at a glance
- BluSmart manages 7,500 EVs and plans to increase this to 13,000 by March 2025, ultimately reaching its target of 25,000 cars in three years.
- BluSmart is expanding its operations beyond Delhi and Bengaluru, with plans to launch in Dubai next month, initially deploying 100 Audi EVs as well as Tesla cars.
- With over 7,500 EVs, 5,000 charging points, and 15 million zero-emission trips, BluSmart aims to revolutionize transportation in India, a South Asian country of 1.4 billion.
- The company expects to nearly double its revenue to $110M by March 2025.
- BluSmart has raised $200M in total equity and debt funding so far.
Air Pollution concerns driving EV adoption
India is intensifying efforts to adopt cleaner transportation alternatives as the country is grappling with severe air pollution and climate change. India ranks among the worst in the world for air quality, alongside Bangladesh and Pakistan, according to a 2023 report by Swiss company IQAir. The high levels of pollution contribute to hundreds of thousands of premature deaths in South Asia annually.
This alarming air quality and associated health risks are leading to a transition towards cleaner vehicles. The EV movement, spearheaded by companies like BluSmart, offers a promising avenue to combat pollution and improve public health.
