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SIDBI and BluSmart Flag Off 140+ Electric Cars under the Delhi EV Policy

SIDBI and BluSmart Flag Off 140+ Electric Cars under the Delhi EV Policy, EV4ECO


SIDBI and BluSmart Flag Off 140+ Electric Cars under the Delhi EV Policy

Towards promoting electric mobility, the Small Industries Development Bank of India (SIDBI) and BluSmart, India’s leading EV ride-hailing service, launched over 140 electric cars. The initiative, tagged ABCD (Aaओ Bनाए Cलीन Diल्ली)—EV Powered Delhi, aligns with the Delhi EV Policy and aims to enhance the capital’s electric vehicle infrastructure.

SIDBI, under its EV4ECO scheme, is dedicated to greening the enterprise ecosystem by supporting MSMEs and mitigating financial risks for EV adoption. The ceremony was attended by representatives from the Indian government and various international organizations.

Mr. Prakash Kumar, DMD of SIDBI, highlighted the institution’s proactive approach to promoting green technologies among MSMEs. “SIDBI has launched unique schemes for the EV ecosystem, facilitating the adoption and streamlining of finance for EV startups. We are proud to support BluSmart in their journey of zero-emission ride-hailing services,” he said.

Dr. R.K. Singh, CGM of SIDBI, emphasized India’s commitment to low-carbon growth in the transport sector. He mentioned the strategic nationwide consultations across the EV value chain and the launch of EV4ECO and EV-RSF schemes to enable affordable financing of electric vehicles, thereby reducing vehicular emissions and operational costs in logistics. 

Anmol Jaggi, Co-founder of BluSmart, expressed his gratitude for SIDBI’s support. “Our mission at BluSmart is to ‘Decarbonize Mobility at scale’. SIDBI’s unique ABCD initiative is accelerating the adoption of EVs in Delhi NCR, contributing significantly to reducing carbon emissions from the transportation sector,” Jaggi stated.

SIDBI’s support extends beyond urban areas, with initiatives to empower women entrepreneurs in rural regions by providing affordable finance for transitioning to electric vehicles.

Also read: SIDBI launches new financing solution for EV space

The flag-off ceremony marks a critical step in the collaboration between SIDBI and BluSmart, showcasing their joint commitment to sustainable and environmentally friendly transportation solutions. With these initiatives, both organizations aim to position Delhi as a leading city in electric mobility, contributing to a cleaner, greener future.

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