Driving sustainability: Ride-hailing firms accelerate EV growth plans

As BluSmart strengthens its presence, other platforms in the ride-hailing and electric mobility segment are also putting their expansion plans in fast lane

In a push towards sustainable mobility, more ride-hailing and electric mobility companies are planning to fast-track their shift to electric vehicles (EVs) in 2025 as they scale up operations.

 

Come New Year, EV ride-hailing platform BluSmart will launch its cab services in Mumbai.

 

Announcing the plan on social media platform X in a December 28 post, the company said, “Starting January 1, 2025, BluSmart is here to make your journey reliable, safer, and always on time. After months of dedication and hard work, we’re excited to bring this dream to life in your city.” The service is currently available in Delhi NCR and Bengaluru. 

   

It added that the service will initially be available to select users under an invite-only programme.

 

“Closing 2024, opening 2025 with new dreams! Mumbai, we’re arriving soon — exclusively for a select few to experience it before everyone else,” BluSmart mentioned in its post. 

 

The company has been actively advancing its expansion plans. Marking its first international foray in June this year, BluSmart launched its maiden international service in the UAE, introducing a premium all-electric limousine service.  

 

India’s taxi market is estimated to grow from $20.61 billion in 2024 to $38.9 billion in 2029, growing at a compound annual growth rate (CAGR) of 13.55 per cent, according to data from Mordor Intelligence, a market research firm. 

 

However, BluSmart isn’t the only company in the ride-hailing and electric mobility space scaling operations. 

 

E-scooter manufacturer Ola Electric recently announced the addition of 3,200 new stores over the past one month, bringing the total tally of its showrooms and service centres to 4,000. 

 

In a video post on December 19, Ola chairman Bhavish Aggarwal had emphasised plans to open a store and service centre in “every city, town, tehsil, or taluk.” Earlier, Ola Electric had announced plans to open 10,000 sales and service outlets by end-2025. 

 

As competitors explore sustainable alternatives to shift from conventional internal combustion engine (ICE) vehicles, Rapido reportedly revealed plans in September to introduce an all-electric bike-taxi service in the National Capital in 2025.

 

So far, Rapido has expanded operations in over 150 cities, according to the website of the homegrown ride-hailing unicorn. 

 

Notably, India’s 30@30 initiative aims at achieving 30 per cent EV sales by 2030. As for Delhi, the government said it was planning to electrify all bike-taxis by the same year.

 

The draft Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme 2023 mandates that only fully electric bike-taxis will be permitted to operate in the capital.

 

In October this year, Rapido partnered IndoFast Energy, a joint venture between IndianOil and SUN Mobility, to introduce 10,000 Piaggio electric autos with swappable batteries across India over the next two years.

 

For 2024, the collaboration aimed at adding over 1,000 EVs by December, starting with cities like Hyderabad and Bengaluru. 

 

On a global level, ride-hailing platform Uber aims to transform into a zero-emission platform by 2040. In India, the company's EV service, Uber Green, is available in Delhi, Bengaluru, Mumbai, and Kolkata.  

Scaling up

  *  BluSmart to launch its cab services in Mumbai from January 1. The service is currently available in Delhi-NCR and Bengaluru

  *  Ola Electric recently attained the 4,000-store milestone. It plans to open 10,000 sales and service outlets by 2025-end 

  *  Rapido plans an all-electric bike-taxi service in Delhi in 2025

  *  $20.61 bn in 2024 to $38.9 bn in 2029: Estimated growth of India’s taxi market size

  *  India’s 30@30 initiative aims to achieve 30 per cent EV sales by 2030