India, Sept. 22 -- Amid ongoing insolvency proceedings, BluSmart's rival startup Evera Cabs has proposed a lease arrangement with affiliate Gensol Engineering's interim resolution professional (IRP) and committee of creditors to onboard 1,000 EVs previously owned by the troubled startup.

Evera Cabs' cofounder and CEO Nimish Trivedi told Inc42 that the startup has proposed a structured monthly lease, allowing it to onboard the cabs in a phased manner based on their working condition and operational capacity.

As per a report by The Economic Times, Gensol Engineering was initially looking to sell off the cabs. Evera, however, opted to lease the vehicles, as it allows the startup to scale quickly without heavy upfront capital commitments. ...