Delhi-based EV taxi operator Evera is in discussions with Gensol’s insolvency resolution professional and creditors to lease 1,000 cars from Gensol’s 4,000-vehicle fleet currently under the National Company Law Tribunal.

Gensol, a solar engineering and EPC firm, entered insolvency on June 13 after the Indian Renewable Energy Development Agency filed a petition over alleged loan defaults of 510 crore rupee (US$57.9 million).

Evera’s CEO Nimish Trivedi said the company wants to lease and operate the vehicles until the tribunal makes a decision, with plans to deploy them for its hourly rental service and B2B clients.

Gensol’s insolvency professional and creditors are also considering a direct sale of the cars.

Evera currently operates 500 EVs previously leased from BluSmart’s lenders before BluSmart’s insolvency.

Ritesh Prakash Adatiya, BluSmart’s insolvency resolution professional, has raised concerns that leasing vehicles directly from Gensol, instead of through BluSmart, could complicate BluSmart’s own resolution process.

BluSmart’s fleet once included about 8,000 EVs, with roughly 5,000 owned or leased by Gensol.

🔗 Source: The Economic Times