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Everest Fleet Eyes BluSmart’s EVs Amid Gensol Fallout and Uber’s Green Push

Everest Fleet, one of Uber India’s top fleet partners, is in discussions with lenders of the now-defunct BluSmart to acquire a portion of its electric vehicle (EV) fleet. The move follows BluSmart’s collapse and the regulatory fallout involving its parent company, Gensol Engineering. Everest’s CEO Siddharth Ladsariya confirmed talks with multiple lenders and noted that the final number of EVs to be acquired will depend on pricing and vehicle condition. These EVs are expected to be integrated into Uber Green, Uber’s dedicated EV service.

Unlike Evera Cabs, which recently onboarded 500 BluSmart EVs through leasing, Everest Fleet intends to purchase the vehicles outright. The company already operates a fleet of 20,500 vehicles, including 2,000 EVs, and has room to absorb more.

This comes as Gensol founders Puneet and Anmol Jaggi resigned from the Gensol board on May 12, following a SEBI directive related to alleged fund diversion. BluSmart, co-founded by the Jaggi brothers, had earlier been in talks with Uber to revive operations as a fleet partner, but the plan never materialized.

Uber, which has invested $40 million in Everest Fleet across two funding rounds, aims to become a zero-emission platform by 2040, adding 25,000 EVs across India’s top cities.