BluSmart Mobility, India’s first and largest all-electric ride-hailing service and platform, is navigating a major transition, with multiple top executives stepping down as the company restructures its operations to improve financial stability. CEO Anirudh Arun, Chief Business Officer Tushar Garg, Chief Technology Officer Rishabh Sood, and VP of Experience Priya Chakravarthy have all exited, sources say.
Stepping in to steer the ship is Nandan Sharma, formerly VP of Business and Operations, who will take over as CEO. However, more leadership departures could be on the horizon, according to insiders.
This leadership shift comes on the heels of a significant financial restructuring by BluSmart’s parent company, Gensol Engineering, which is winding down its leasing arrangements. As part of this move, Gensol offloads 2,997 electric vehicles to Chennai-based Refex Green Mobility, which will then lease them back to BluSmart. The deal—impacting 34% of BluSmart’s fleet—also involves Refex assuming Gensol’s existing Rs 315 crore loan. However, the agreement still awaits regulatory approval.
BluSmart has assured riders that these changes won’t disrupt its ride-hailing services across Delhi-NCR, Bengaluru, and Mumbai. The company continues to operate a fleet of 8,700 EVs, averaging seven trips per vehicle daily, backed by a charging network of 50 hubs with 6,300+ charging points.
Yet, these developments unfold against a challenging financial backdrop. Gensol recently faced credit downgrades to default status by two rating agencies, adding another layer of uncertainty to BluSmart’s ongoing transformation.
As BluSmart moves forward, all eyes will be on how the new leadership and restructuring efforts shape its future in India’s competitive EV ride-hailing space.
