The Financial Mess at Gensol and Blu-Smart

Once seen as the promising power duo of India’s renewables and EV story, Gensol Engineering and BluSmart Mobility are now at the center of a high-stakes corporate unraveling. Gensol, a key lessor and vehicle supplier for BluSmart, is battling a severe liquidity crisis, with its stock crashing 65%, credit rating slashed to unprecedented lows, and allegations of financial mismanagement emerging. Now, in a desperate move, Gensol is trying to pare ties with BluSmart and sell 3,000 vehicles from its fleet. But this isn’t just about one company’s cash crunch. Host Anirban Chowdhury talks about a business model under stress, a web of related-party deals, and the larger implications for India’s EV ecosystem. Was BluSmart too dependent on Gensol to begin with? Did Gensol’s investors get the short end of the deal? And what does this turmoil mean for the future of EV ride-hailing and clean energy startups?Check out other interesting episodes from the host like: Corner Office Conversation with Maersk’s Keith Svendsen and Chris Cook, Tata, Airtel’s DTH merger: Will 2 Negatives make a Positive?, Tesla Tug-of-War: Maha, AP woo Elon Musk, and more! You can follow Anirban Chowdhury on his social media: Twitter and Linkedin Catch the latest episode of ‘The Morning Brief’ on ET Play, The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube.See omnystudio.com/listener for privacy information.