Nearly 2,000 BluSmart EVs on the block as lenders, lessors look to recover money

Lenders and leasing companies are looking to sell 1,500-2,000 electric vehicles which were listed on BluSmart, the ride-hailing platform that last month suspended operations indefinitely after failing to raise funds amid allegations of financial irregularities against its founders, people familiar with the matter said.

Banks and non-banking financial companies, investment platforms, climate financing institutions and even wealthy individuals are among those looking to sell these EVs they have financed or leased to BluSmart to recover their money, the…