Revving Up EV Taxi Growth: Evera’s Plan to Battle the BluSmart Vacuum
- ByStartupStory | October 22, 2025
Evera Cabs, founded in 2019, has emerged as one of the key players stepping into this gap, aggressively expanding its own EV fleet and service offerings. With a recent funding infusion of $4 million from Mufin Green Finance, Evera has been accelerating growth plans — bolstered further by a strategic acquisition of 220 EVs formerly managed by BluSmart.
Fast-Tracked Growth and Fleet Expansion
Evera’s CEO and cofounder Nimish Trivedi credits the BluSmart deal for enabling the company to leapfrog its original expansion timeline. By acquiring these vehicles and proposing a lease agreement with BluSmart’s creditors and insolvency board, Evera fast-tracked fleet growth and strengthened its unit economics. This timely addition has supported Evera’s rapid scaling in both airport transfers and hourly rentals, where demand has surged notably in recent months.
Trivedi shared, “These were numbers planned for next year, but the BluSmart deal allowed us to advance that timeline. It has also helped improve our cost-effectiveness.”
From Visionary Beginnings to Real-World Challenges
Evera was initially envisioned as a “green Ola or Uber of India,” aiming to build a zero-emission ride-hailing network supported by integrated rooftop solar energy charging infrastructure. However, they encountered the classic chicken-and-egg dilemma — balancing charging infrastructure availability with fleet scale. Instead, Evera focused early on establishing its first charging stations alongside a fleet of 138 cars by 2020, providing a sturdy foundation.
The COVID-19 pandemic posed a major disruption, halting operations temporarily and stressing financials. Evera pivoted by partnering with the Delhi government to provide transportation for COVID patients, gaining goodwill and sustaining revenues during challenging times.
This crisis also helped the founders rethink their business model: Pure B2C showed limitations while corporate B2B services — including employee transportation and business travel — offered more sustainable growth. Today, Evera’s revenue mix stands at around 80% B2B and 20% B2C, with the latter growing steadily through airport transfers and hourly rentals.
Strategic Consumer Market Entry
Evera’s first meaningful B2C foray took place at the Delhi airport, one of the busiest in India, facilitating reliable fixed-route EV transfers. With heavy passenger volumes and long wait times, this vertical offered a predictable, scalable revenue stream aligned with Evera’s quality and premium experience ethos.
Trivedi emphasized their commitment to high standards — no surge pricing, zero cancellations, highly trained uniformed drivers, and clean, dependable vehicles, echoing some of BluSmart’s initial promises.
Fleet and Operational Efficiency
From 138 cars in 2020, Evera’s EV fleet has grown to about 1,000 vehicles by 2025, primarily using leased vehicles to optimize capital usage. Most of the fleet consists of newer models featuring longer ranges and faster charging that supports an optimal 16 hours average daily utilization — a key KPI balancing operational costs and profitability.
Evera’s unit economics benefit from this disciplined approach combined with slightly premium pricing, allowing better driver incentives and superior customer service quality.
Looking Ahead: Growth and Market Opportunity
With BluSmart’s exit creating a market vacuum, Evera sees a vast runway for growth in New Delhi and beyond. Of the estimated 2.5 lakh taxis operating daily in Delhi NCR, only about 3,000 are EVs — signaling enormous untapped potential.
Supported by favourable government policies aimed at boosting sustainable transport, Evera plans to continue expanding primarily in B2B employee transport while deepening its B2C presence with hourly rentals and airport services.
The startup’s financial projections appear promising, anticipating revenues to double from ₹15 crore to ₹30 crore in FY26, backed by increasing fleet size and higher utilization. The fleet is expected to grow under lease arrangements to about 2,000 vehicles within eight months.
Trivedi also hinted at exploring newer monetization avenues like subscriptions or dedicated fleet leasing, though geographical expansion beyond Delhi NCR is not immediate.
Final Thoughts
Evera’s journey underlines the complexity of launching a premium EV ride-hailing service in India — balancing scale, quality, infrastructure, and cost viability. While the blueprint is difficult, Evera’s steady growth, disciplined execution, and enhanced fleet capacity position it well to fill the BluSmart-sized gap in the market.
The coming months will be critical as Evera navigates increasing competition and operational challenges inherent in quality EV mobility.
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