Indianopolis' electric carsharing service BlueIndy will be ending its operations effective May 21, according to the Indianapolis Business Journal.
Paris-based BlueIndy launched in September 2015, backed by logistics company Bollore and billionaire Vincent Bollore. The group had projected it would be profitable by 2020, expecting 15,000 members, 200 stations, and 500 cars. However, as of August, the company only had 3,000 active members, 92 stations, and 200 cars — a fifth of the total the company needed to remain profitable.
According to documents, Blue Indy had a deficit of $22 million in 2017.
This @BlueIndyUS document reveals the company had a deficit of more than $22 million in 2017. I'm told 2018 & 2019 data has yet to be submitted by the electric car sharing service. BlueIndy denied my requests for financial info but I ended up getting this from the city. pic.twitter.com/Y7d8R4fQQr
The city spent $6 million launching the carsharing service.
Originally posted on Auto Rental News
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