The discussions take place as Gensol Engineering, the parent company of BluSmart, struggles with liquidity.

Since its parent company, Gensol Engineering, wants to get out of the capital-intensive industry, ride-hailing behemoth Uber is in the early stages of negotiations to buy BluSmart, an electric vehicle-based taxi service provider, according to sources who spoke to Moneycontrol.

The discussions start when Gensol Engineering, the parent company of BluSmart, has cash problems. BluSmart denies ever having such a conversation with Uber.

“BluSmart flatly rejects any talks or negotiations about being acquired by Uber. Such a development is completely theoretical and unfounded, according to the article. “As the top EV ride-hailing and charging infrastructure platform in India, BluSmart is committed to growing its business, extending its reach, and advancing sustainable mobility,” a BluSmart representative stated in response to Moneycontrol’s questions. Read more »