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Sustainable transportation leader Gogoro Inc. is expanding its footprint across Asia with strategic investments from lubricant maker Castrol; upcoming launches in Kathmandu, Nepal, and Singapore; and market growth in the Philippines. These strategic moves highlight the company’s commitment to providing eco-friendly transportation alternatives and addressing the growing demand for electric vehicles (EVs) in urban centers.
Castrol’s strategic investment
Castrol invested $50 million into Gogoro Inc. Castrol is a subsidiary of the bp group, and announced the investment last June, which has now been partially implemented with an initial tranche of $25 million, to be followed by a second investment of $25 million before the end of the year, contingent upon specific business collaborations between the two companies. Castrol’s initial investment will secure approximately 5.72% of Gogoro’s outstanding shares, marking a pivotal step in its “Onward, Upward, Forward” strategy.
“Two-wheelers are a critical part of our global product portfolio, and as our customers transition to electric two-wheelers, the Castrol brand has an important role to play in the ecosystem,” Michelle Jou, CEO of Castrol, said in a press statement.
She highlighted the significance of this move, stating, “Gogoro is a global leader in two-wheeler battery swapping, and our investment in them is a strategic step towards diversifying our portfolio, remaining relevant in our customers’ lives, embracing new opportunities to future-proof our iconic 125-year-old brand, and to create additional value for our shareholders.”
“Gogoro’s proven battery swapping platform and smart electric two-wheeler vehicles have demonstrated how cities can be transformed when given access to smart, sustainable and convenient portable power. This investment by Castrol is a testament to this success and enables us to expand even faster,” Horace Luke, Founder and CEO of Gogoro, said.
Kathmandu: Pioneering sustainable mobility in Nepal
In partnership with Nebula Energy, Gogoro is set to launch its battery swapping network and Smartscooters in Kathmandu Valley in October 2024. This initiative aligns with Nepal’s focus on clean energy and electric vehicle adoption.
Luke emphasized the significance of this launch: “Nepal is at the forefront of clean energy generation and utilization … Together, Gogoro and Nebula Energy are working to accelerate adoption by launching Gogoro battery swapping and Smartscooters in the Kathmandu Valley with a plan to eventually have more battery swapping stations than gas stations.”
The initial rollout will include 45 battery swapping stations and three Smartscooter models: the Pulse, JEGO, and CrossOver GX250. This comprehensive approach aims to provide a seamless transition to electric mobility for Kathmandu residents.
Singapore: Commercial launch following successful pilot
In Singapore, Gogoro plans to commercially launch its battery swapping network and Smartscooters in the fourth quarter of 2024, in partnership with exclusive distributor Cycle & Carriage (C&C).
This development follows a successful pilot program conducted in collaboration with C&C and foodpanda, a major food delivery platform. The pilot, which involved Gogoro’s Smartscooters and battery-swapping infrastructure, demonstrated high rider satisfaction and the viability of battery swapping as a sustainable mobility solution for Singapore.
Luke expressed satisfaction with the certification and highlighted the positive results of the pilot program. He stated, “Gogoro, Cycle & Carriage, and foodpanda have been participating in a pilot that has demonstrated incredible success and we look forward to transitioning to commercial operations soon.”
C&C Managing Director Wilfrid Foo echoed this sentiment, stating that the partnership with Gogoro will accelerate the growth of battery swapping technology and electric two-wheelers in Singapore. The pilot program data and rider feedback have reinforced their confidence in commercializing Gogoro’s solutions in the market. Furthermore, C&C announced a collaboration with Shell Recharge to deploy Gogoro’s battery swapping GoStations at Shell service stations in Singapore. The first Shell-based GoStation is expected to be operational by August 2024, with additional stations planned across the city-state over the next two years.
The pilot program data revealed that riders appreciated the Smartscooters’ speed, lack of heat and noise, and minimal vibrations. Additionally, the quick and convenient battery swaps, taking less than a minute, were well-received. Riders also expressed satisfaction with the leasing package and after-sales support provided by C&C.
These developments underscore Gogoro’s progress in expanding its footprint in the Asia-Pacific region and its commitment to promoting sustainable urban mobility through its innovative battery-swapping technology.
“After working closely with Singapore’s Land Transport Authority (LTA) to secure a permit to launch our battery swapping platform in Singapore, I am pleased to announce that Gogoro is now certified to operate in Singapore. This certification is a testament to how safe, smart, reliable and eco-friendly Gogoro battery swapping is,” Luke mentioned. In addition to the Smartscooter launch, C&C is partnering with Shell Recharge to deploy Gogoro’s battery swapping GoStations at Shell service stations across Singapore. This strategic collaboration will significantly enhance the accessibility and convenience of battery swapping for riders.
Going south in the Philippines
Gogoro Philippines is expanding its innovative electric mobility and battery-swapping operations nationwide, including in the Southern Philippines. Following a successful launch in December 2023, Gogoro Philippines is bullish about its prospects and is targeting Visayas and Mindanao for expansion later this year. This strategic move will make Gogoro’s sustainable mobility solutions accessible to a wider audience.
To cater to various customer needs, Gogoro Philippines has introduced two flexible postpaid energy plans: Plan P799 (~$14/month) and Plan P999 (~$18/month), offering ranges of 420 kilometers and 700 kilometers, respectively. The company has received positive feedback from early adopters, praising the scooters’ intelligent features, riding comfort, and ease of battery swapping. Gogoro GoStations are being strategically installed across key locations in Metro Manila, including UP Town Center, which is a mall that serves several schools, White Plains, a high-end subdivision in Quezon City, premier malls, Ayala Malls Feliz and Paseo de Magallanes, and Sea Oil petrol stations. These stations will provide convenient access to battery swaps, ensuring uninterrupted commutes for riders.
The company’s commitment to sustainable urban mobility and advanced technology positions it as a leader in the electric scooter market. With the upcoming expansion into Visayas and Mindanao, Gogoro Philippines aims to further strengthen its presence and contribute to a greener and more efficient transportation system in the country.
Technology at the core
Gogoro’s battery swapping technology is central to its ecosystem, offering a smart, safe, and efficient alternative to traditional refueling methods. The company’s open and interoperable platform has gained industry recognition and is already widely adopted in Taiwan, with over 12,500 battery swapping stations serving more than 610,000 riders.
Gogoro’s expansion into Kathmandu, Singapore, and the Philippines demonstrates the company’s commitment to global sustainable mobility. By providing innovative battery swapping solutions and high-performance electric Smartscooters, the e-mobility company is playing a crucial role in accelerating the transition to clean energy transportation and reducing urban pollution.
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