A regulatory investigation into financial mismanagement at BluSmart Mobility has thrown a wrench into Uber’s plans to deepen its electric vehicle (EV) push in India. The Securities and Exchange Board of India (Sebi) recently flagged fund diversion by BluSmart founders Anmol Singh Jaggi and Puneet Singh Jaggi, leading to an operational halt at the EV ride-hailing firm.
Uber, which had at one point considered acquiring BluSmart, is now pausing all engagements with the company, according to people familiar with the matter. The uncertainty has also slowed down Uber’s broader EV rollout in the country, which included plans to onboard roughly
