IREDA sanctions loan of Rs 2.68 billion to BluSmart Mobility for purchase of 3,000 electric cars

Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a loan of Rs 2.68 billlion to BluSmart Mobility for the purchase of 3,000 all-electric cars.

BluSmart Mobility will use the fresh capital to purchase 3,000 electric cars, leading to an expansion of its electric vehicle (EV) fleet. From the sanctioned loan of Rs 2.68 billlion, the first tranche of Rs 357millionhas been disbursed by IREDA to the company.

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