The domestic electric vehicle (EV) manufacturer BluSmart said on Tuesday that its annual run rate (ARR) for FY24 exceeded Rs 500 crore, marking a 102% increase over the previous fiscal year. According to a statement from the corporation, its gross business value (GBV) increased at a compound annual growth rate (CAGR) of 300 per cent during the previous three years.
What are the BluSmart officials saying?
Anmol Singh Jaggi, co-founder of BluSmart, stated, “As we move forward, our commitment to building a fully integrated energy infrastructure, mobility, and technology business remains unwavering.” He went on, “We are seeing a growth in the demand for sustainable mobility solutions, which is supporting the development of a greener, more sustainable future.”
With a fleet of over 7,300 EVs, the company claims to be the largest in South Asia. These vehicles have driven 460 million “clean kilometers,” saving 34 million kg of CO2 emissions.
The BluSmart charging network has expanded significantly as well, including high-traffic areas in Bengaluru and Delhi-NCR. BluSmart was the first mobility company in India to reach 100% emissions-free status earlier this year. By the end of 2024, the fully integrated EV ride-hailing service provider hopes to have 10,000 EVs in its fleet.
