BluSmart has crossed Rs 500 crore ARR in FY24

BluSmart, a domestic electric vehicle (EV) company, announced on Tuesday that it has achieved an annual run rate (ARR) of over Rs 500 crore in FY24, marking a 102% increase from the previous fiscal year.

The company’s statement revealed that its gross business value (GBV) has experienced a compound annual growth rate (CAGR) of 300% in the last three years.

Co-founder of BluSmart, Anmol Singh Jaggi, stated that their dedication to building a comprehensive energy infrastructure, mobility, and technology business has not wavered as they continue to progress.

He also mentioned the growing demand for eco-friendly transportation solutions, supporting the development of a greener and more sustainable future.

In addition, BluSmart boasts the largest fleet of over 7,300 EVs in South Asia, which have traveled 460 million “clean kilometers” and reduced 34 million kgs of CO2 emissions. The BluSmart charging network has also expanded significantly, now covering key locations in Delhi-NCR and Bengaluru.

“We are witnessing a rise in demand for sustainable mobility solutions, reinforcing the growth of a greener, more sustainable future,” said Anmol Singh Jaggi, Co-founder of BluSmart, in a press statement.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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