Homegrown electric vehicle (EV) company BluSmart announced on Tuesday that it has surpassed Rs 500 crore in annual run rate (ARR) for the fiscal year 2024, marking a 102 percent growth compared to the previous fiscal year. The company highlighted that its gross business value (GBV) has experienced a compound annual growth rate (CAGR) of 300 percent over the last three years.
Anmol Singh Jaggi, co-founder of BluSmart, emphasized the company’s dedication to developing a fully integrated energy infrastructure, mobility, and technology business as they continue to progress. He noted a noticeable increase in the demand for sustainable mobility solutions, indicating a shift towards a greener, more sustainable future.
BluSmart boasted having the largest fleet of over 7,300 EVs in South Asia, having covered 460 million “clean kilometers,” thereby saving 34 million kilograms of CO2 emissions. Additionally, the BluSmart charging network has expanded significantly, extending across key locations in Delhi-NCR and Bengaluru.
Earlier this year, BluSmart achieved the milestone of being the first mobility player in India to attain 100 percent emissions-free status. The company’s goal is to expand its fully integrated EV ride-hailing service and reach a fleet of 10,000 EVs by the end of 2024.
