EV-focused BluSmart Mobility has quietly introduced a new pricing structure for different times of the day. The structure consists of two tiers – ‘rush hours’ and ‘relaxed hours’. As the names imply, ‘rush hours’ will be more expensive than the relaxed hours’ charges.
According to a notification sent to its users and pointed out by a few users on X, also reviewed by Entrackr, rush hours for city rides are applicable in – Morning (8:30am to 10:30am IST) and Evening (5:30pm to 8:00pm IST), and rush hours for airport rides – City to Airport (3:30am to 6:30am IST) and Airport to City (9:00pm to 1:00am IST).
The notification says the new price structure has come into effect from January 8, 2024.
Confirming the changes, BluSmart’s COO and co-founder Anirudh Arun said in a statement, “To uphold our commitment to fare transparency, BluSmart has introduced a fixed pricing structure for different times of the day for our customers. This change is a strategic move to align with industry benchmarks. Our new pricing policy ensures that our customers pay what they see on the app, maintaining fairness and consistency. BluSmart’s core promise of zero ride denials, reliable and safe rides, and transparent fares remain intact.”
It’s worth highlighting that BluSmart has been making efforts to distinguish itself from the market leaders Ola Cabs and Uber on the account of being eco-friendly, transparent, and better services to customers. The absence of so-called surge pricing has also been a big differentiator.
“If there is rain on the road, why should the price go up 3 times?” BluSmart cofounder Anmol Jaggi had said in an interview last year.
BluSmart has been looking to expand its presence in the country amid the duopoly of Ola Cabs and Uber, which too have stepped up their EV game in 2023. The company operates in Delhi-NCR and Bengaluru and aims to scale to nearly 8,000 EVs fleet size across the regions by next year.
The EV-focused startup recently raised $24 million in a new equity round. According to the company, the round saw participation and over-subscription from existing investors, founders and the leadership team.
In May, the company raised $42 million of which 50% was subscribed by its leadership team. BluSmart has raised more than $133 million to date including $85 million in Series A round in multiple tranches.
While the company is yet to file its FY23 results, its scale jumped 222% to Rs 29 crore in FY22. Cabs and charging facilities were two sources of revenue for the company in the said fiscal year. According to startup data intelligence platform TheKredible, the firm’s losses also grew 66% to Rs 65.4 crore during the period.
Meanwhile, Uber India witnessed a 54.46% increase in its revenue which crossed Rs 2,600 crore during the fiscal year ending March 2023 but the firm’s losses rose 57% during the same period.