How BluSmart’s Closest Ally Became Its Biggest Risk

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“In 10 years, everyone in India should be able to get a BluSmart EV cab within 5 minutes.” This is what Anmol Jaggi, cofounder of BluSmart — and chairman and MD of listed company Gensol Engineering — said in a press conference, as recently as February 2025. 

It’s only been a month, but the turnaround has been swift. Since then, publicly listed Gensol Engineering has come under the scanner due to debt and liquidity issues. And this controversy has also cast a shadow on BluSmart’s future. 

That’s because Gensol was BluSmart’s…



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How BluSmart’s Closest Ally Became Its Biggest Risk


“In 10 years, everyone in India should be able to get a BluSmart EV cab within 5 minutes.” This is what Anmol Jaggi, cofounder of BluSmart — and chairman and MD of listed company Gensol Engineering — said in a press conference, as recently as February 2025. 

It’s only been a month, but the turnaround has been swift. Since then, publicly listed Gensol Engineering has come under the scanner due to debt and liquidity issues. And this controversy has also cast a shadow on BluSmart’s future. 

That’s because Gensol was BluSmart’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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