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Battery compartment on Vande Bharat Express from Rani Kamlapati to Nizamuddin catches fire at 5:40am. All passengers safely evacuated. Congress leader Ajay Singh was on board. Defective batteries suspected.

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TN Higher Education Minister Ponmudy allowed to go home after 8 hours by ED post grueling interrogations. DMK spokesperson criticizes long questioning stating a violation of Human Rights.

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Battery compartment on Vande Bharat Express from Rani Kamlapati to Nizamuddin catches fire at 5:40am. All passengers safely evacuated. Congress leader Ajay Singh was on board. Defective batteries suspected.

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TN Higher Education Minister Ponmudy allowed to go home after 8 hours by ED post grueling interrogations. DMK spokesperson criticizes long questioning stating a violation of Human Rights.

BluSmart EV previse future

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BluSmart building green future

  • A group of investors including BP Ventures, Inflection Point Ventures and LetsVenture have invested $42 million on Electric vehicle (EV) ride-hailing company, BluSmart. The Founders Anmol Jaggi, Punit Goyal, Anirudh Arun, Tushar Garg, Rishab Sood, and Rahul Jain are brimming with pride needless to say.
  • The expenditure came in a mix of debt and equity from existing investors with almost 50% of the round being subscribed by the BluSmart founders.
  • The round included $37 million in equity and the remaining amount in debt, which is funded by the likes of Trifecta Capital, Alteria Capital and Stride Ventures.
  • The largest EV asset financing in India backed by the government’s Power Finance Corporation (PFC) had also come to BluSmart which will add 5,000 EVs to BluSmart’s growing fully-electric ride-hailing fleet.

    • BluSmart aids Delhi EV Policy

  • Not only angel investors and government supported investment, BluSmart received funding from The Small Industries Development Bank of India (SIDBI).
  • SIDBI’s ABCD initiative aims to increase number of EVs on Delhi roads thereby controlling pollution to a great extent.
  • SIDBI and BluSmart have launched over 140 electric cars under the EV4ECO Scheme. The initiative aims to encourage electric vehicle adoption in Delhi supporting their progressive Delhi EV policy addressing Delhi’s crucial agenda of pollution.

    • BluSmart fleet keeps pollution in check

  • BluSmart clocked an average revenue run rate (ARR) of Rs 400 crore which represents a substantial increase of nearly 60% compared to the end of the previous fiscal year as shared by the cofounder Anmol Singh Jaggi. According to him, this growth is primarily attributed to the rise in the number of trips and the expansion of their vehicle fleet.
  • From March till now and they have added more than 1200-1300 cars on the platform. The number of trips increased to 7.5 trips per day from 6.

    • Spurt in Delhi EV Market

  • The sale of private electric cars in Delhi has witnessed a huge jump over the last two years, according to the data released by the Delhi government. In 2021, a total of 1,526 private electric cars were sold in the Capital, the number increased to 3,114 in 2022 and 5,800 in 2023, the data added.
  • The electric vehicle policy that the Delhi government launched in 2020 to provide buyers various incentives, including waiver of road taxes and registration fee are key reasons for this jump.
  • The Kejriwal government has strengthened the EV infrastructure by promoting the installation of public charging stations. Currently, Delhi has over 4,000 public and semi-public charging infrastructure.

    • Editor’s Note

    Government is fiercely serious about turning the future go green! EV sales in India are expected to rise 66% this year after nearly doubling in 2023 as the state subsidies help fuel demand and supporting infrastructure. Tesla has begun production of right-hand drive cars at its plant in Germany for export to India later this year. Vietnamese automaker VinFast also plans to invest $2 billion in the country and in February began constructing a factory in the southern state of Tamil Nadu, according to news agency Reuters.

    Keywords

    #electricvehicles#blusmart#greefuture#delhievpolicy

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