Taiwan-based Gogoro is scheduled to reveal its India plans on November 3. The company is into battery swapping for electric two-wheelers and has also developed its own scooter brands such as Gogoro Smartscooter, Gogoro Viva etc.
In India, Gogoro recently tied-up with Hero MotoCorp, the largest two-wheeler maker, which recently forayed into the electric scooter space. It is still not clear if Gogoro will launch its own electric two-wheelers or mobility solutions in India when its plans are made public in the coming days.
The company has also mentioned its intent to “decarbonise the last-mile sector” which could imply the launch of an electric scooter for intra-city application in the last-mile sector. This arena has a host of players like Hero Electric, Ampere and so on with numbers increasing rapidly every month.
Back in Taiwan, the company offers more than eight models of electric scooters both with and without battery swapping capabilities. It recently launched battery-swapping services in Israel. The company reported first-quarter revenue (FY23) of $94.5 million, up 61.0% year-over-year. Beyond Hero, its other prominent two-wheeler ally is Yamaha for battery swapping and product development which saw the launch of Yamaha EMF in Taiwan earlier this year.
Horace Luke, Founder, Chairman, and Chief Executive Officer, Gogoro recently said, “We continue to grow our subscriber base with over 467,000 subscribers in Taiwan as of March 31, 2022, up 25.2% from March 31, 2021. The successful completion of our merger on April 4, 2022, and Nasdaq listing added $344.8 million of capital to our balance sheet, which will enable us to accelerate our business and continue our aggressive growth in Taiwan and other new markets.”