India, March 17 -- Ride-hailing giant Uber is reportedly in early talks to acquire EV cab-hailing startup BluSmart Mobility.

The development comes at a time when Gensol Engineering, a solar engineering, procurement and construction company, which owns a meaty share of BluSmart's fleet of 8,500-strong EV fleet, is facing liquidity challenges, ET reported.

Anmol Singh Jaggi, the cofounder of BluSmart, is the chairman and managing director of Gensol Engineering.

If the deal goes through, it will help Uber strengthen its presence in India's burgeoning ride-hailing market, where it competes with the likes of Ola, Rapido, eee-Taxi, among others.

However, in a statement to media outlets, BluSmart rejected the report. "We categorically deny a...