Social media posts and reports have led to speculation that BluSmart is all set to exit its core ride-hailing business and operate as a fleet partner of Uber. Almost six years ago, BluSmart started out by operating electric vehicles on Uber’s platform and if reports are to be believed, the company is now preparing to shut down its own cab service completely and supply cars to Uber again.
According to the sources, as per a plan approved by BluSmart’s shareholders, a transition of the fleet from its platform to Uber will be facilitated in phases starting with 700-800 cars to begin with. BluSmart will wind up its own ride-hailing business once the transition is complete.
Sources further say that BluSmart had launched an effort to raise USD 50 million earlier this year. However, the company failed to secure any fresh capital from existing investors which further led to delay in March salary payments. In 2023, BluSmart was offering 25,000-30,000 rides but the number of daily rides has comparatively dropped to less than half. After the cars owned/leased by BluSmart are listed on the Uber platform, the firm would receive a portion of the fares earned by the vehicles.