Gogoro Opens Battery Swapping Network in Delhi, Goa; Introduces India-made CrossOver Smartscooter

Gogoro Launches Battery Swapping Ecosystem in India, Opens battery swapping network in Delhi and Goa with plans to expand to Mumbai and Pune Maharashtra in the first half of 2024.

Gogoro introduces Gogoro CrossOver GX250, CrossOver 50 and CrossOver

Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced the immediate availability of its battery swapping ecosystem and Smartscooters in India. The company also unveiled its first India-made Smartscooter, the CrossOver GX250.

Initially available to B2B customers in Delhi and Goa, the company plans to roll out in Mumbai and Pune in the first half of 2024, with consumer availability in the second quarter of 2024.

“We are at the cusp of a dramatic change in the global urban transportation landscape, and with its more than 250 million mopeds and motorcycles India is well positioned to lead the shift to sustainable consumer and B2B transportation,” said Horace Luke, founder and CEO of Gogoro. “The Gogoro CrossOver series embodies everything our brand has come to stand for and the new made-in-India CrossOver GX250 is optimized for riders in India with more seating space, greater storage and better ground clearance.”

Gogoro CrossOver Series

The CrossOver series is built on a redesigned all-terrain frame that enables increased rigidity and comfort while offering a variety of storage, riding and customization capabilities. The CrossOver will be available in India in three models, the CrossOver GX250, CrossOver 50 and CrossOver S. The CrossOver GX250 is immediately available today with the CrossOver 50 and CrossOver S shipping later in 2024.

CrossOver GX250

gogoro CrossOver GX250

Manufactured in Maharashtra India, the CrossOver GX250 is Gogoro’s first India-made Smartscooter. The CrossOver GX250 captures the best of Gogoro’s new CrossOver Smartscooters while integrating India-specific features that Gogoro pilot riders in India requested.

New All-Terrain Chassis

Optimized for various road conditions, the CrossOver GX250 adopts a newly developed all-terrain frame that provides increased rigidity for improved strength and stability. The new frame also provides 176mm of ground clearance, the highest in Gogoro’s current vehicle lineup.

Performance and Easy Control

CrossOver GX250 utilizes a 2.5 kW Direct Drive that provides a top speed of 60+kph and a certified range of 111km. The CrossOver GX250’s new frame design greatly increases the durability of the suspension system and accommodates larger loads while emphasizing comfort and stability.

Flexible Cargo Capacity

Designed to adapt to various riding scenarios, the CrossOver GX250 provides passenger riding space as well as ample storage options with a new mounting point expansion system that includes 26 locking points. With the ability to leverage four cargo areas including a platform design headlight, foot, seat and rear cargo space, the CrossOver GX250 can easily accommodate most storage needs. To carry more, the rear seat can be flipped up or removed to add cargo storage as needed.

In August, India’s International Centre for Automotive Technology (ICAT) certified the CrossOver GX250 for India. In November, Gogoro became the first foreign two-wheel OEM to be recognized by the Small Industries Development Bank of India (SIDBI) that entitled the CrossOver GX250 for its EV financing programs.

“Gogoro was uniquely created to introduce a mass market shift to sustainable energy in densely populated cities by establishing an intelligent battery swapping ecosystem for vehicle refueling that is safe, scalable and open. There has been significant demand in India for Gogoro battery swapping, Smartscooters and technologies and we are excited to be launching commercially with a variety of partners,” said Luke. “On average, last mile delivery riders ride more than six-times the distance as consumer riders, so enabling these delivery riders to adopt smart sustainable electric transportation can have an accelerated impact on a city.”

Commercial Partnerships

As more and more businesses in India embrace the need for sustainable transportation they require new mobility solutions for logistics, delivery fleets and taxi services that not only achieve the best alternative to gas-powered vehicles but are well suited to the specific market and industry needs in India. Gogoro offers swap & go battery swapping in seconds that is safe, reliable, and always available, while tethered electric charging still requires dedicated parking and charge time that reduces rider availability and income. Gogoro is working with a variety of partners in the region across three core business categories.

Businesses and Fleet Operators - Gogoro continues to work with large and small partners to enable sustainable delivery companies, such as Zypp Electric and logistics fleets and taxi services using Gogoro battery swapping and Smartscooters, including those transitioning from traditional ICE vehicles.

Mobility-as-a-Service (MaaS) - Gogoro is working with partners, like FutureEV, to enable new sustainable business opportunities including the use of Gogoro’s GoShare platform that enables fractional and shared mobility-as-a-service deployments.

Turnkey Solution - Gogoro works with business partners, to deploy a complete battery swapping ecosystem and Smartscooters that are made in India to new domestic and international markets like Nebula Energy in Nepal.

Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed. Recognized and awarded by Frost & Sullivan as the “2023 Global Company of the Year for battery swapping for electric two-wheel vehicles” and MIT Technology Review as one of “15 Climate Tech Companies to Watch” in 2023, Gogoro’s battery swapping and vehicle platforms offer a smart, proven, and sustainable long-term ecosystem for delivering a new approach to urban mobility.

Gogoro has quickly become an innovation leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery availability and safety. The challenge is massive, but the opportunity to disrupt the status quo, establish new standards, and achieve new levels of sustainable transportation growth in densely populated cities is even greater.

Swiggy Delivery Fleet Gets Gogoro's Smart Scooters and Battery Swapping Infrastructure

Gogoro and Swiggy Announce Electric Vehicle Partnership in India

• Swiggy, India’s leading on-demand convenience delivery platform to promote Gogoro
• Electric Smartscooters to last-mile delivery partners across the country

Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced a vehicle partnership with Swiggy, India’s leading on-demand convenience delivery platform.

“Accelerating the electric transformation of India’s hyperlocal fleets is a top priority for Gogoro and India’s national and city governments. Partnering with Swiggy, a leading player in the industry, to provide access to Gogoro Smartscooters and battery swapping is essential in successfully transforming India’s urban fleets to electric,” said Horace Luke, founder, and CEO of Gogoro. “Together, Swiggy and Gogoro will provide a seamless path for riders to adopt sustainable electric transportation and improve their business efficiency.”

"This partnership with Gogoro is another key step in our commitment to creating greener and cost-effective solutions for our delivery fleet," said Mihir Shah, Head of Operations at Swiggy. "We believe in providing our delivery partners with access to the latest innovations in sustainable transportation that reduce rider interruptions, improve earnings and make deliveries more efficient. Gogoro's battery swapping technology represents a new generation of electric refueling that has proven successful on a mass scale for last-mile delivery, and we look forward to working with them to transform hyperlocal deliveries to be more sustainable and efficient in India.”

In 2021, Swiggy announced its commitment to cover 8 lakh kilometers every day through EV deliveries. The company, which has been at the forefront of sustainable transportation since has been making significant strides in adopting electric vehicles for last-mile delivery through strategic partnerships with industry leaders such as Reliance BP Mobility Limited and Hero Lectro. This has enabled delivery partners to save up to 40% of the vehicle running cost, positively impacting their earnings.

In April, Swiggy's rival Zomato announced its partnership with Zypp Electric and Yulu's DeX EV, for inter-city and intra-city deliveries respectively.

Just two months back, the Maharashtra government had presented Gogoro with an offer letter to enter into a $1.5 Billion + worth of ‘Ultra Mega Project’ agreement to manufacture vehicles, smart battery packs and battery swap stations, and deploy an open and accessible battery swapping infrastructure in the State beginning in late 2023.

Last-mile delivery fleets require a sustainable solution that not only achieves the best alternative to internal combustion engine (ICE) vehicles but is well suited to the specific segment needs of the delivery industry. The Gogoro platform delivers the most sophisticated two-wheel battery swapping system that enables delivery operators to manage their fleets and deliveries more efficiently and sustainably.

Gogoro Battery Swapping

With more locations than gas stations in Taiwan’s cities, the Gogoro Network is a new generation of swappable battery refueling that is smart, safe, and continually optimizing itself to be dynamic and versatile for riders, businesses, and communities. The Gogoro Network supports nearly 550,000 riders and has more than 1.1 million smart batteries in circulation through its network of more than 12,000 battery-swapping stations at over 2,500 locations. Averaging 400,000 daily battery swaps and more than 480 million total battery swaps to date, Gogoro Network battery swapping has saved more than 670,000 tons of CO2 since it launched.

About Swiggy

Founded in 2014, Swiggy is India’s leading on-demand convenience platform with a vision to elevate the quality of life for the urban consumer by offering unparalleled convenience. It connects consumers to over 250,000 restaurant partners in hundreds of cities. Its quick commerce grocery service Instamart is present in over 25 cities. Swiggy’s latest addition, Dineout, offers users experiences in high-use categories like dining out and events in close to 25 cities across the country. Using innovative technology, Swiggy provides a hassle-free, fast, and reliable delivery experience. Every order delivered by Swiggy’s delivery executives, ensures a host of customer-centric features like lightning-fast delivery, no minimum order value, live order tracking, and 24/7 customer support. For more information, visit www.swiggy.com

About Gogoro

Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed. Recognized and awarded by Frost & Sullivan as the “2023 Global Company of the Year for battery swapping for electric two-wheel vehicles”, Gogoro’s battery swapping and vehicle platforms offer a smart, proven, and sustainable long-term ecosystem for delivering a new approach to urban mobility. Gogoro has quickly become an innovation leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery availability and safety. The challenge is massive, but the opportunity to disrupt the status quo, establish new standards, and achieve new levels of sustainable transportation growth in densely populated cities is even greater. For more information, visit https://www.gogoro.com/news and follow Gogoro on Twitter: @wearegogoro

Taiwan's Gogoro to Deploy $1.5 Billion Smart Battery Infrastructure in Maharashtra

India’s State of Maharashtra and Gogoro to Partner On ‘Ultra Mega Project’ to Manufacture and Deploy Smart Battery Infrastructure that Would Exceed $1.5 Billion Over Eight Years

Maharashtra’s Ultra Mega Project Offer Outlines an Eight Year Phase 1 Investment Plan that Includes More Than $500 Million Investment in Manufacturing and $1 Billion in Smart Battery Infrastructure Deployment by Gogoro supported by Financial Incentives and Reimbursements by the State of Maharashtra.

The Project Would be One of the Largest EV Investments in India’s History and

Follows an MOU Announcement at Davos in January 2023.

The Indian State of Maharashtra and Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced that the Maharashtra government had presented Gogoro with an offer letter to enter into an ‘Ultra Mega Project’ agreement to manufacture vehicles, smart battery packs and battery swap stations, and deploy an open and accessible battery swapping infrastructure in the State beginning in late 2023. The announcement was made, at a Maharashtra’s State Government press conference, by Chief Minister Shri. Eknath Shinde.

The proposed Ultra Mega Project deal would exceed $1.5 billion and include financial incentives and support from Maharashtra. The offer letter follows a MOU between Maharashtra and Gogoro that was previously announced at Davos in January 2023.

Late last year, Gogoro debuted in India market with its electric scooter and also announced its collaboration with Hero Motocorp for battery swapping infrastructure.

The Maharashtra government categorizes Ultra Mega Projects as significant strategic investments exceeding $500 million that usually result in government incentives to ensure successful project execution. Gogoro’s request for financial incentives was approved and endorsed by the Maharashtra state cabinet and the two parties expect to complete the agreement soon.

“As the leading State in India for electric vehicles, Maharashtra is demonstrating our strong commitment towards sustainable transportation for all. We are creating a smart battery ecosystem with Gogoro, a leader in sustainable vehicles and electric fuel technologies. As part of the project, Gogoro will establish its India vehicle, smart battery and battery swapping station manufacturing in Maharashtra and deploy their industry leading smart battery infrastructure in the state, generating approximately 10,000 direct and indirect jobs,” said Hon. Chief Minister Shri. Eknath Shinde.

“In line with the vision set by our Hon Prime Minister Shri. Narendra Modi, Maharashtra is fully committed to help build a green and sustainable future for our state. I am delighted to announce that today we approved an ultra mega project with Gogoro, a Nasdaq listed, global two-wheel EV company," said Devendra Fadnavis, The Deputy Chief Minister of Maharashtra. "Gogoro aims to produce two-wheel EV’s that utilize its open and accessible battery swap technology which is absolutely state of the art. We have provided Gogoro with the necessary financial and other key incentives to usher in a new paradigm shift in the way we will move people across metros and cities. The EV revolution is gripping the world and our state is not far behind in its early adoption. With this project we anticipate creating a fertile ecosystem for local manufacturers who will avail the necessary tech transfer and help create world class products for our citizens."

Gogoro plans to build a smart energy infrastructure in Maharashtra that is open and accessible and establishes battery swapping and smart battery stations as a leading source for mobility and energy storage. The deployment is also expected to accelerate job growth throughout the smart energy, electric vehicle, and sustainability value chain. Gogoro is expected to lead the increase of foreign direct investment into the state of Maharashtra in both supply chain capabilities and smart battery infrastructure.

The Global EV Battery Swapping Market Size accounted for USD 134.1 Million in 2021 and is projected to occupy a market size of USD 1,123.9 Million by 2030 growing at a CAGR of 26.8% from 2022 to 2030. 

“Building on Gogoro’s successful deployment of an open battery swapping network that supports multiple vehicle makers in Taiwan, we plan to proceed in partnership with the Maharashtra government to bring Gogoro vehicles, smart batteries and swap stations to India starting with the state of Maharashtra. We are focused on creating a domestic supplier ecosystem that allows for domestic growth and foreign market expansion,” said Horace Luke, founder, and CEO of Gogoro. “It is essential that we transform industries and infrastructure to successfully enter a new era of clean, connected mobility. We are excited to be partnering with the Maharashtra government in its vision to transform urban transportation and provide a better path forward for its residents and businesses.”

The battery swapping infrastructure expects to begin deploying across Maharashtra in late 2023 which will leverage Gogoro’s smart energy ecosystem including smart battery stations, swapping technologies, network management solutions, and will provide numerous innovations to the State, contributing in the areas of smart city design and development, energy storage stations & systems, smart mobility sharing, smart electric vehicles, demand response services and distributed energy storage, among other applications.

With more than 120 million residents, Maharashtra is India’s largest economy and industrialized State with a gross domestic product of more than US$450 billion that accounts for 16-percent of India’s industrial output.

Cautionary Statement

Finalization and implementation of the Proposed Ultra Mega Project Investment Plan is subject to, among other things, the execution of mutually agreeable definitive agreement(s), completion of due diligence, procurement of necessary funding, approval by the board of directors of Gogoro, and obtaining governmental approvals that may be required in the State of Maharashtra or elsewhere in India and Taiwan where relevant. Although both parties are actively working to finalize the agreement, there can be no assurance that a definitive agreement will be entered into, the required approval will be obtained or that the Proposed Ultra Mega Project Investment Plan will be implemented or consummated on the terms set forth herein or at all.

About The State of Maharashtra

Maharashtra is one of the 28 states within the Republic of India. Maharashtra is known as India’s growth engine due to its large contribution to India’s GDP. It is also nationally recognized as the most advanced in terms of manufacturing and services sector. Maharashtra has consistently topped India’s ranking in terms of FDI received. Mumbai, the capital of Maharashtra is a global world class city.

https://maharashtra.gov.in/1125/Home

About Gogoro

Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed. Gogoro Network is a new generation of distributed smart energy infrastructure that is optimized for swappable battery refueling and architected for intelligent bidirectional demand response and energy storage that is a key building block of a smart grid. Gogoro has quickly become an innovation leader in battery swapping, energy storage, connected vehicles, electric propulsion systems, smart battery design, and advanced cloud services that utilize artificial intelligence to manage battery availability and safety. The challenge is massive, but the opportunity to disrupt the status quo, establish new standards, and achieve new levels of sustainable growth in densely populated cities is even greater. For more information, visit www.gogoro.com/news and follow Gogoro on Twitter: @wearegogoro

Taiwan's Electric Scooter Co. Gogoro Foraying in Indian Market

Taiwan's electric scooter company Gogoro is all set to make a debut in the Indian market. The company is reportedly launching its electric scooter on November 3. Gogoro is said to have partnered with Hero MotoCorp for this.

Gogoro manufactures both low speed and high speed electric scooters. Many of its models are already present in the international market.

Last year in April, Gogoro announced a strategic partnership with Hero MotoCorp, to roll out its Gogoro Network battery swapping in India.

Gogoro Battery Swaps

The company will launch a longer range model in the Indian market. With a range of 90km and a top speed of 30km/hour, Gogoro will launch a low-speed and longer-range electric scooter in India.

The company could foray into the e-scooter segment with its model —   Gogoro S1 or Gogoro Viva— as a last-mile delivery option for B2B customers. 

VIVA

In this scooter, the company is going to provide a lithium-ion battery pack with a capacity of 1.9 kWh. With which 250 W power electric hub motor will be connected. The range of this electric scooter can be 80 to 90 kilometers on a single charge. With which a top speed of 25 to 30 kilometers per hour can be found.It is believed that its battery will be swapped and run. Recently, Baaz Bikes has also launched an electric scooter with battery swap. 

Gogoro offers many great features along with unique design in its electric scooteraccording to the need of the rider .Features such as all-LED lighting, LED instrument console, Bluetooth and app connectivity, multi-ride mode, remote start, anti-theft alarm can be given in the electric scooter to be launched in India. With this, the company can offer many new useful features considering the need of the Rider. The price of this scooter can be between 80 to 85 thousand rupees.

According to a media report, Gogoro will make an official announcement on November 3, 2022.

Founded in 2011, Gogoro develops its own line of electric scooters and offers its own EV innovations to vehicle maker partners like Hero, Yamaha, Aeonmotor, PGO, eReady and eMOVING.

This year, Gogoro went public, with its merger with Nasdaq-listed special-purpose acquisition company Poema Global.