Uber exits talks to onboard 5,000 BluSmart EV's due to pricing and ownership concerns.

In the Recent article by the Mint, Uber exits talks to onboard 5,000 BluSmart EV's due to pricing and ownership concerns.

Our founder and MD, Mr Shriram Subramanian, has highlighted that "potential buyers must be concerned about the value they will get from a deal with BluSmart. There is considerable liability linked with the cars and questions over the value as well". He also added that "buyers are aware that this is a distress sale, so they will negotiate hard on the price".

This marks BluSmart’s second failed deal in two months. With lender complaints, regulatory hurdles, and valuation questions, the road ahead looks tough for the once-promising EV fleet startup.

Read the full article:

https://www.livemint.com/companies/uber-blusmart-ev-gensol-engineering-anmol-jaggi-refex-group-cars24-power-finance-corporation-ireda-azure-power-nifty-11746351165193.html

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