Rise of BluSmart as Leading Mobility Partner in India

If we talk about the mobility segment in 2024, BluSmart Mobility stands out with its mission to Decarbonise mobility and extend the era of electric vehicles in India. It was set up in 2019 Gurgaon under the founding team of Anmol Singh Jaggi, Punit K Goyal, and Puneet Singh Jaggi. As India’s cab sector desperately needed fresh ideas that excelled in the market, BluSmart Cabs surpassed the success rate with intelligent and sustainable technology. According to EconomicTimes, BluSmart, an Indian EV firm, crossed over Rs 500 crore in annual run rate in FY24. Ahead of this massive success, if we turn back to the time of its launch, it was a tough deal to beat the existing competition of cab services with the existence of competitors like Ola, Uber, etc. But how does the startup evolve in the segment? Let’s do the analysis and find out!

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Growth of BluSmart Mobility

BluSmart offers a diverse fleet of popular electric cars, including the Mahindra e-Verito, Tata e-Tigor, Tata Xpres-T EV, Hyundai Kona Electric, and MG ZS Electric. Users can easily book slots using the BluSmart app to reach their destination in advance. The major driving forces behind BluSmart’s success include zero-ride denial, transparent pricing, on-time pickups, clean cars, and well-behaved drivers. Currently operating in Delhi-NCR and Bangalore, the startup raises its financial metrics to make it more profitable. The revenue model focuses on dual aspects of electric cabs and charging facilities. According to Business Standard, BluSmart owns and operates more than 4,400 EV chargers spread across 36 EV Charging superhubs, encompassing 1.5 million square feet in densely populated urban areas.

This India-born startup became a successful business, accumulating over 1 million customers for the BluSmart app and driving over 370 million clean kilometres with lower CO2 emissions. With massive growth expansion for FY2022 and FY 2023 and a 60% increase in ARR, the business is continuously formulating strategies to make it a smart leader in the sector. In 2024, BluSmart revealed its novel pricing system to make Blusmart cab a more affordable choice with two “rush hours” and “relaxed hours” plans. The initiative seems right, as the no-charge surge led to a better customer experience. With its exceptional services, BluSmart replaces traditional commuting and becomes the first mobility player in India to attain 100% emissions-free status.

Altogether, these progressive steps set a footprint for success and levelled up the operation ahead of the cut-throat competition with Ola and Uber. With a unique approach to a sustainable future and clean energy, it expands its user base and offers standout service.

BluSmart Growth Curve Contributors

Although BluSmart made a tough entry into the mobility market, like any other startup, varied driving forces contributed to the company’s growth and expansion. With the unique idea of intra-city travelling with low carbon emissions, this company beat the competitive ranges for great success. Here are other key things that support BluSmart to become a successful brand:

Agile Operation Management

One of the success factors that helped BluSmart stay ahead of the competition was its efficient operation management. They followed a structured time slot with an analysis of peak hours, majorly targeting office hours of Tier-1 cities. Also, with proper timing distribution, drivers can manage the time to complete their rides and take a gap to recharge. It creates a systematic flow that delivers a quality experience for both riders and drivers.

Robust Charging Infrastructure

BluSmart got leverage for charging stations; rather than delegating the burden on drivers, the company took the initiative to spread charging facilities across the city. To gain an economic advantage, BluSmart has set up charging hubs in the basement space of malls, IT parks, etc, to make it convenient for drivers to refill and smoothly drive their power consumption.

Asset Light Approach

With maximising the concept of an asset-light model, BluSmart does not own any of its operating cars. The company procured their vehicle on a monthly lease and even allowed drivers to earn a fixed payout without the burden of owning the car. It derives economic benefits and reduces the financial burden for the company with standard running costs. This approach offers BluSmart an advantage in surpassing Ola and Uber swiftly.

Customer Experience

The cab-hailing sector witnessed backlash due to driver rudeness, last-minute ride cancellations, and other manipulations that impacted customer experience with Ola and Uber. BluSmart conducted deep research into this issue and fixed the concern with no surge pricing and a defined charge slab based on the distance covered. With a focus on quality customer experience, BluSmart drivers do not get the option to cancel the ride in lieu of more profits.

BluSmart: A Successful Brand!

Since its launch in 2019, BluSmart has expanded its business with sustainable modes of transport and made the electric cab segment a challenging spot to enter for competitors. Other brands like Uber Electric are initiating their entry to compete with BluSmart, but looking at the current trends, the company has an added advantage for growth and a profitable future!

FAQs

How is BluSmart a sustainable option in the cab-hailing market?

BluSmart operates as electric vehicle cab services that ensure less carbon emission and hence support a sustainable environment.

Is BluSmart a profitable company?

Yes, BluSmart Mobility has shown profit metrics by bagging a profit of Rs 390 crore in revenue in FY 2024.

What are the future plans of BluSmart for growth in the industry?

BluSmart aims to scale up its power consumption by expanding its fleet with another 70 MW of renewable energy over the next 18 months, starting in March 2025.