BluSmart’s innovative asset-leasing program, Assure by BluSmart, has achieved a significant milestone, reaching a book value exceeding ₹100 crore within its inaugural year. The initiative enables partners to purchase electric vehicles (EVs) and lease them to BluSmart, supporting the company’s mission to expand its emission-free ride-hailing services.
The program has witnessed exponential growth, with a tenfold increase in monthly financing and participation from over 25 partners. BluSmart has also bolstered its EV fleet with premium models such as the MG ZS SUV, alongside the existing Tata Tigor and Citroën eC3.
Investors, including green financing institutions, transport and logistics operators, and family offices, have shown substantial interest in the program. Partners leasing EVs through Assure by BluSmart benefit from fixed monthly rentals, a double-digit pre-tax internal rate of return (IRR), and a 40% accelerated depreciation benefit tailored for electric vehicles.
Anmol Jaggi, Co-founder of BluSmart, highlighted the success of the program: "The success of Assure by BluSmart demonstrates the strong appetite for sustainable investment opportunities in India. The response from investors in its first year has been extremely encouraging. We are confident that Assure by BluSmart will continue to play a vital role in achieving our mission to provide reliable, 100% emission-free transportation across markets."
With over 8,500 EVs, BluSmart operates South Asia’s largest electric fleet. The company has facilitated over 21 million rides and covered 680 million clean kilometres, reducing carbon emissions by more than 49,000 tonnes.
BluSmart’s charging network spans 5,800 stations across 50 hubs in Delhi NCR and Bengaluru, supporting over 10,000 active driver partners. These hubs, spread over 2 million square feet, ensure seamless operations for its expanding fleet.
The growth of Assure by BluSmart underscores the increasing demand for sustainable investment options and highlights the potential of EVs in revolutionising India’s ride-hailing sector. As the company continues to diversify its fleet and expand its services, it reaffirms its commitment to delivering 100% emission-free transportation solutions.
