Noida-based commercial driver management platform Signodrive Technologies Pvt. is set to take on Gensol Engineering Ltd.’s entire fleet of 4,000 electric vehicles (EV) as part of the firm’s insolvency resolution process, people aware of the matter told NDTV Profit.
Signodrive will operate Gensol’s electric vehicles for 24 months, with a lock-in period of 18 months, one of the persons quoted above said. The cars will be used for business-to-consumer clients like Rapido, and also a few business-to-business clients, the person added.
The EVs that Signo is set to operate and manage were previously running under the BluSmart Mobility brand, another person added. The contract carries an operational value of around Rs 16,000 per vehicle per…