Delhi-NCR-based electric mobility startup BluSmart has rolled out a new fare structure for different times of the day, which includes surge pricing like app cab aggregators – Ola and Uber.
This comes after the founders of the startup promised to provide zero cancellations and zero surge pricing, unlike its ride-hailing counterparts.
Starting on Monday (January 8), BluSmart’s new pricing structure has two time slots – rush hours with higher charges and relaxed hours with lower rates.
As per a notification sent by the startup to its users and pointed out by a few users on X and LinkedIn, the rush hour for city rides is between 8:30 am to 10:30 am and then again from 5:30 pm to 8:00 pm on weekdays. Whereas airport rush hours are 3:30 am to 6:30 am and 9:00 pm to 1:00 am, applicable all days of the week.
In the notification, BluSmart mentioned, “During these specified rush hours, you’ll notice a slight increase in fares as there is increased traffic that might lead to longer trip durations. By slightly adjusting the fares for these hours, we aim to enhance the availability and reliability of rides. Rush hour pricing will be applicable only during Monday-Friday for city rides and for all days of the week for airport rides.”
However, fares will remain at regular or reduced rates during relaxed hours outside of the specified rush hours, it added.
Confirming the changes, BluSmart’s cofounder Anmol Singh Jaggi mentioned on X, “Surge price is unpredictable, our pricing is just a true and transparent reflection of effort by driver partners during rush hours. Surge is non-transparent & arbitrary, what BluSmartIndia has done is to make it clear & upfront on what the pricing would be.”
Founded in 2019 by Jaggi and Punit K Goyal, BluSmart provides electric cab ride-hailing services and charging infrastructure in Bengaluru and Delhi-NCR. The startup currently operates over 5,500 EVs and aims to increase the fleet size to 8,000 across Delhi-NCR and Bengaluru by next year.
The company claims to have completed more than 10 Mn rides so far, travelling more than 330 Mn zero-carbon Kms in the process.
BluSmart also owns and operates over 4,000 EV chargers, across its 34 EV charging superhubs.
BluSmart sets itself apart in the market by focusing on eco-friendliness, transparency, and superior customer service. Notably, the absence of surge pricing serves as a significant distinguishing factor.
BluSmart competes with Bengaluru-based Lithium, Delhi-based eee-Taxi, Kolkata-based Snap-E Cabs as well as giants like Ola and Uber.
BluSmart has been looking to expand its presence in the country.
As part of its aggressive expansion plans, the startup recently raised $24 Mn (INR 200 Cr) in a fresh equity funding round. It plans to use the capital to build large-scale EV charging superhubs enabling the expansion of its electric ride-hailing service.
In April last year, BluSmart bagged $42 Mn in a funding round. It plans to take its fleet size to 10,000 in FY24 from around 3,500 vehicles it had in May.
Meanwhile, the startup’s consolidated net loss in the financial year 2021-22 (FY22) widened by 66% year-on-year (YoY) to INR 65.5 Cr due to a significant increase in expenses. BluSmart’s net loss was INR 39.4 Cr in FY21. Despite robust business growth, the electric ride-hailing company faced a negative impact on its bottom line in FY22.
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