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Gogoro

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Gogoro Inc.
Company typePublic
IndustrySustainable Urban Transportation and Energy Refueling
Founded2011;13 years ago(2011)
FoundersHorace Luke
Matt Taylor
Headquarters
Taoyuan
,
Taiwan
Key people
Horace Luke (CEO)
ProductsGogoro Network
Gogoro Smartscooter
Number of employees
2400
Websitegogoro

Gogoro Inc.is a Taiwanese company that developed abattery-swappingrefueling platform for urbanelectrictwo-wheelscooters,mopedsandmotorcycles.[1][2]It also develops its own line of electric scooters and offers its own vehicle innovations to vehicle maker partners like Hero, Yamaha, Aeonmotor, PGO, eReady, and eMOVING.[3]Gogoro also operates GoShare, arideshareservice, in Taiwan andIshigaki IslandinJapan.[4][5][6]

Gogoro Smartscooter,the first consumer product from Gogoro, was revealed at theConsumer Electronics Show(CES) inLas Vegasin January 2015. Along with the scooter, Gogoro announced a battery-swapping network under the name Gogoro Energy Network.[7]

History

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Gogoro was founded in 2011 by entrepreneursHorace Lukeand Matt Taylor.[8]In its year of inception, Gogoro secured $50 million in seed funding from Dr.Samuel YinofRuentex GroupandCher Wang.[9]In October 2014, Gogoro raised an additional $100 million in Series B funding from a collection of investors.[10]In November 2015, Gogoro announced a $30 million round of investment fromPanasonicandTaiwan's National Development FundArchived2016-12-04 at theWayback Machine.[11]In September 2017, Gogoro announced a $300 million Series C round of investment from Singapore'sTemasek,Generation Investment Management(co-founded byAl Gore), Japan'sSumitomo Corporation,and French utilityEngie,increasing the Smartscooter innovator's capital up to US$480 million.[12]The company went public in 2022 with its merger with Nasdaq-listedspecial-purpose acquisition companyPoema Global.[13]

On April 21, 2021, Gogoro announced a strategic partnership with the world's top two-wheel vehicle maker,Hero MotoCorp,to roll out its Gogoro Network battery swapping in India.[14]

In December 2020, analyst firm Frost & Sullivan recognized Gogoro as the 2020 Global Company of the Year Award for the Swappable Battery Electric Scooter Market.[15]

In June 2024, theCastrollubricants division of multinational oil giantBPannounced plans to invest up to $50M in Gogoro.[16][17]

Gogoro Network

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Gogoro Network Smart Battery

The Gogoro Network[18]is amodularbattery swappinginfrastructure designed to be deployed in cities for electric refueling of two-wheel vehicles like scooters, mopeds, and motorcycles. Riders would be able to swap out depleted batteries at a network of kiosks called GoStations for a monthly subscription fee.[19]According to Gogoro, as of April 2021 in its pilot market of Taiwan, Gogoro Network had 370,000 riders and managed more than 175 million battery swaps, 265,000 per day, through its 2,000 GoStations.[20]

The Gogoro Smartscooter was the first vehicle to be integrated into the Gogoro Network in 2015.[21]

The network also includes the Powered by Gogoro Network (PBGN) program, through which other manufacturers of electric motor scooters can build scooters that utilize the Gogoro Network infrastructure. Gogoro has several vehicle maker partners participating in PBGN, including:

In 2022, Gogoro announced it planned to launch inSingapore.[29]

Gogoro Network in Asia

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Taiwan

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GoStation

In July 2015, Gogoro Smartscooter was launched inTaiwan,a country with the highest scooter density in the world.[30]By the end of the same year, more than 4,000 Smartscooters were sold, and its market share in Taiwan's electric scooter market hit 33.94%.[31]According to Gogoro, in 2016 the company had a GoStation less than every 1.3 kilometers in Taipei.[32]

In February 2021, the network consisted of 1,959 GoStations and more than 764,000 battery packs. 66 of the GoStations in 2021 were Super GoStations which were larger than regular GoStations with the ability to service up to 1,000 riders a day.[33]Some stations havegrid batteries,able to keep charging scooter batteries duringgrid failures.[34]

China

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In October 2021, Gogoro Network launched inHangzhou,Chinaunder the Huan Huan brand, with 45 GoStations in partnership with Yadea and Dachang gian g Group.[35][36][37]It has since expanded toWuxiandKunming,with 250 swapping stations in China as of September 2022.[38][39]In November 2022, Gogoro announced it would delay its expansion plans in China due to economic and geopolitical uncertainty.[40]

Indonesia

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In December 2021, Gogoro launched a pilot program inJakartawithGojek,with 250 Smartscooters and 4 GoStations.[41][42]

Singapore

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In September 2022, Gogoro was awarded a sandbox pilot by Singapore's Land Transport Authority (LTA) to launch Smartscooters and battery-swapping technology.[43]

India

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On November 3, 2022, Gogoro announced a battery-swapping pilot inDelhiin partnership with Zypp Electric, a delivery company.[44]The network began operation on November 8, 2022.[45]

In January 2023, Gogoro announced a partnership with Belrise Industries and the state ofMaharashtrato invest $2.5 billion in battery charging and swapping infrastructure.[46][47][48]

The Philippines

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On November 29, 2022, Gogoro announced a battery-swapping pilot in Manila in partnership withAyala Corporation,with plans to launch in the first quarter of 2023.[49]

Nepal

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On April, 2024, Gogoro will be launching in Kathmandu, Nepal in partnership with Nebula Energy, a Nepalese company. Nebula Energy will be the authorized and exclusive dealer of Gogoro products including the network in Nepal.

Gogoro Network outside Asia

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Israel

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Israel is one of the first markets outside of Taiwan that Gogoro has explored. In September 2022, Gogoro launched its Smartscooters and battery swapping technology inTel Aviv,with plans to expand into other Israeli cities in the near future.[50][51][52]

Colombia

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Gogoro will market its own scooters in Colombia starting in June 2024. The first four battery swapping stations will be colocated atTerpelservice stations inBogotá,with plans to eventually expand to other cities, includingMedellín.[53]

Products

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Main article:Gogoro Smartscooter

Gogoro 1 Smartscooter

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Released in 2015. TheGogoro Smartscooteris anelectric scooterdesigned for urban transportation. It is powered by an electric motor developed by Gogoro, which is marketed as the G1 Aluminum Liquid Cooled Permanent Magnet Synchronous Motor.[54]Instead of plugging into an outlet to recharge, the Smartscooter uses swappable battery packs which are made withPanasoniclithium ion18650 cells.[55]

Gogoro 2 Smartscooter

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Released in 2017. The second model of Gogoro. The company states the following figures for the Smartscooter based on internal testing:[56]The Smartscooter's sensors collect information such as speed, battery level, consumption rate, system failures, and scooter falls. This information is presented to riders via Gogoro mobile apps.[57]

Gogoro Viva

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In September 2019, Gogoro unveiled the Viva Smartscooter, a smaller electric scooter that provided a smaller option for customers.[58]

Gogoro S1

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Gogoro SuperSport

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Partners

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Gogoro has announced the following strategic partnerships:

  • Hero MotoCorp: on April 21, 2021, Gogoro announced a strategic partnership with the world's top two-wheel vehicle maker, Hero MotoCorp, to rollout its battery Gogoro Network battery swapping in India.
  • Coup Mobility GmbH: an electric scooter sharing service using Gogoro scooters that operated in Berlin, Tübingen, Paris and Madrid between 2016 and 2020 but was closed for economic reasons.[59]
  • Tier Mobility GmbH: electric scooter sharing service operating in Berlin, Cologne, Munich and Hamburg.[60]Tier acquired the assets of Coup in early-2020.[61]
  • Ride Go Share: electric scooter sharing service in Okinawa, Japan[62]
  • Carbon belts: developed in partnership withGates
  • Performance tires: developed in partnership withMaxxis
  • Battery cells: developed in partnership withPanasonic[55]

See also

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References

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  1. ^"Gogoro Global".Gogoro.Retrieved2022-10-15.
  2. ^Horton, Chris (2015-12-07)."Electric Scooters, and a Network".The New York Times.ISSN0362-4331.Retrieved2022-10-15.
  3. ^abToll, Micah (29 November 2020)."Gogoro expands electric scooter dominance with yet another vehicle partnership".electrek.co.Electrek.Retrieved14 February2021.
  4. ^Toll, Micah (2022-08-30)."Gogoro's GoShare battery-swapping scooter-sharing platform expands with TSMC partnership".Electrek.Retrieved2022-10-15.
  5. ^"Sumitomo ties with Taiwan scooter maker in battery-swap scheme".Nikkei Asia.Retrieved2022-10-15.
  6. ^"Gogoro's electric scooter-sharing program is coming to Japan".Engadget.28 September 2017.Retrieved2022-10-15.
  7. ^Fried, Ina (5 January 2015)."Well-Heeled Gogoro Unveils Plan to Cover Cities With Scooters and Battery-Swapping Kiosks".Re/code.Revere Digital LLC.Retrieved26 March2015.
  8. ^"About Gogoro".gogoro.Gogoro Inc.Retrieved19 January2015.
  9. ^Cheng, Roger."Ex-HTCers bring their design chops to electric Smartscooter".Roadshow.
  10. ^Lorenz, Taylor (5 January 2015)."Mysterious Startup Gogoro Quietly Raises $150 Million For An Electric Scooter You'll Never Have To Plug In".Business Insider.Retrieved19 January2015.
  11. ^"Electric Scooter Maker Gogoro Expands To Europe, Closes $130 Million Investment".Forbes.Retrieved2015-11-20.
  12. ^"Temasek Leads $300 Million Investment in Electric Scooter Maker".Bloomberg.19 September 2017.Retrieved2017-09-20.
  13. ^Bellan, Rebecca (April 5, 2022)."Gogoro's public debut could supercharge EV battery swapping across the globe".TechCrunch.
  14. ^"Hero MotoCorp Taps Taiwan's Gogoro in Shift to Electric".Bloomberg.2021-04-21.Retrieved2021-05-12.
  15. ^"Frost & Sullivan recognizes Gogoro with 2020 global company of the year".Frost & Sullivan.2020-12-16.Retrieved2021-05-12.
  16. ^Toll, Micah (2024-06-25)."BP's Castrol invests $50M in Gogoro, leading EV battery-swapping provider".Electrek.Retrieved2024-06-25.
  17. ^"Castrol invests in Gogoro, a two-wheeler battery swapping leader".Yahoo Finance.2024-06-25.Retrieved2024-06-25.In the first tranche of the investment, Castrol Holdings, an affiliate of Castrol, will invest US$25 million in ordinary shares of Gogoro. This investment is expected to be followed by a second US$25 million investment in the form of a convertible note
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  22. ^abcShu, Catherine (August 6, 2019)."Gogoro announces Yamaha, Aeon and PGO are the first manufacturers that will use its swappable batteries in their own scooters".TechCrunch.Retrieved7 June2024.
  23. ^Lâm đỉnh trí (November 27, 2020)."Gogoro đổi điện hệ thống, hoành giai đằng chế tạo! Uy tốc đăng thương dùng xe điện ba bánh đoạt công hậu cần thị trường"[Gogoro battery swap system! Awayspeed commercial electric tricycles enter the local delivery market].ET Today(in Chinese (Taiwan)).Retrieved7 June2024.
  24. ^abShu, Catherine (May 18, 2021)."Gogoro strikes deal with Yadea and DCJ to build a battery-swapping network in China".TechCrunch.Retrieved7 June2024.
  25. ^"First Scooter between eMoving and Gogoro EZ1 Launches Starting from NT$58,900".EnergyTrend.August 11, 2021.Retrieved7 June2024.
  26. ^"What Do We Know So Far About Suzuki's New Electric Scooter eReady That Is Making Its Debut Soon?".EnergyTrend.August 12, 2020.Retrieved7 June2024.
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  30. ^Moura, Nelson (22 February 2015)."Why Aren't Electric Scooters Taking Off in Taiwan?".VR World.Retrieved2016-02-19.
  31. ^Kinh tế bộ công nghiệp cục (2008-05-19)."Động cơ điện xe sản nghiệp võng -- chiếc xe duy tu tin tức".lev.org.tw.Retrieved2016-02-19.
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  33. ^Chang, Eric (12 February 2021)."Taiwan's Gogoro Network powered through innovative solutions".taiwannews.tw.Taiwan News.Retrieved14 February2021.
  34. ^Toll, Micah (4 March 2022)."Massive power outage in Taiwan sends gas stations offline, but Gogoro's electric scooter battery stations powered themselves".Electrek.
  35. ^Shu, Catherine (2021-10-11)."Gogoro launches battery swapping stations in China".TechCrunch.Retrieved2022-09-06.
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  38. ^"Battery-Swapping Startup Gogoro to Go Public in SPAC Merger".Bloomberg.2021-09-16.Retrieved2022-09-06.
  39. ^"Thành thị internet - trí năng đổi điện thành thị bản đồ / địa chỉ / định vị / lộ tuyến - cả nước pin trao đổi trạm - thay đổi official website".huanhuan.cn.Retrieved2022-09-06.
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  41. ^"Gogoro Drives Strong Momentum in Indonesia with New Strategic Partnerships That Establish an Open Electric Mobility and Battery Swapping Ecosystem".Gogoro.25 January 2022.Retrieved2022-10-15.
  42. ^Toll, Micah (2022-10-13)."This country plans to put 2 million electric motorcycles on the road in the next 3 years".Electrek.Retrieved2022-10-15.
  43. ^"Gogoro awarded LTA battery-swapping sandbox pilot, partners Jardine C&C".businesstimes.sg.Retrieved2022-11-30.
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  45. ^Makol, Malavika Kaur (November 8, 2022)."Taiwan's Gogoro Sees India as 'Holy Grail' for EV Technology".bloomberg.Retrieved2022-11-08.
  46. ^Bellan, Rebecca (2023-01-17)."Gogoro, Belrise JV to spend $2.5B on battery swapping network in Indian state".TechCrunch.Retrieved2023-01-28.
  47. ^"Taiwan's Gogoro signs deal to test EV battery-swapping in India".Financial Times.2023-01-17.Retrieved2023-01-28.
  48. ^"Gogoro, Belrise to Build $2.5 Billion Battery-Swapping Network in India".Bloomberg.2023-01-17.Retrieved2023-01-28.
  49. ^Bellan, Rebecca (2022-11-30)."Gogoro to pilot battery swapping and Smartscooters in Philippines next year".TechCrunch.Retrieved2022-11-30.
  50. ^Bellan, Rebecca (2022-05-11)."Gogoro to launch Smartscooters and battery-swapping stations in Israel".TechCrunch.Retrieved2022-10-15.
  51. ^Toll, Micah (January 2020)."As Gogoro expands globally, will its popular battery swap stations follow?".electrek.co.Electrek.Retrieved14 February2021.
  52. ^Toll, Micah (2022-09-06)."Gogoro launches sales of its battery-swapping electric scooters in Israel, also enters Singapore".Electrek.Retrieved2022-09-06.
  53. ^"Electric Scooter Battery Swapping for Colombia, & Gogoro Gets $50 Million in Investments".Clean Technica.June 5, 2024.Retrieved7 June2024.
  54. ^Wilson, Byron."Gogoro Smartscooter First Look".Motorcycle USA.Retrieved26 March2015.
  55. ^ab"Gogoro® Ignites Smart City Transformation with Launch of World's First Smartscooter™ and Battery Swapping Infrastructure".Gogoro.Retrieved19 January2015.
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  57. ^Nuñez, Michael (10 January 2015)."CES 2015: The Gogoro Smartscooter Is A Tesla On Two Wheels".Popular Science.Retrieved26 March2015.
  58. ^"Gogoro's smaller scooter is built for international expansion".Engadget.26 September 2019.Retrieved2021-05-12.
  59. ^"Coup shuts down its electric moped scooter service".25 November 2019.
  60. ^"E-Moped – TIER".
  61. ^"Tier Mobility acquires Coup's electric moped scooters – TechCrunch".26 February 2020.
  62. ^"Electric Bike Rental Service in Ishigaki, Okinawa｜GO SHARE【Official Website】".
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