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Gogoro Inc. (Nasdaq: GGR) is a pioneering company focused on overcoming the barriers to electric fuel adoption and enabling urban riders to easily access swappable electric power. Founded in 2011, Gogoro has developed a sophisticated battery swapping technology that integrates a comprehensive ecosystem of hardware, software, and services. This ecosystem includes Gogoro Smart Batteries, GoStations, Gogoro Network Software & Battery Management Systems, Smartscooters, and related components and kits.
With its headquarters in Taiwan, Gogoro generates the majority of its revenue from the Taiwanese market but also has a growing presence in other countries. The company aims to revolutionize urban mobility by providing sustainable, smart, and convenient battery swapping solutions. Recognized for its innovation, Gogoro has received accolades like
Gogoro (Nasdaq: GGR) reported Q3 2024 financial results with revenue of $86.9 million, down 5.3% year-over-year. Battery swapping service revenue increased 3.8% to $34.9 million, while hardware sales declined 10.6% to $52.0 million. The company reported a net loss of $18.2 million, compared to $3.1 million loss in Q3 2023. Subscriber base grew 9.6% to over 625,000. Gross margin decreased to 5.4% from 18.3% last year. The company faces challenges including Nasdaq listing compliance notice, CEO resignation, and government inquiry into imported parts. Updated 2024 revenue guidance is between $305-315 million.
Copec and Gogoro Inc. (Nasdaq: GGR) are launching the first two-wheel battery swapping platform and Smartscooters in Santiago, Chile. The initiative begins with 10 battery swapping stations, expanding to 18 by year-end. This collaboration marks Gogoro's second entry into Latin America, following its launch with Terpel in Bogota, Colombia. The Gogoro ecosystem offers a smart, safe, and efficient battery-swapping solution, eliminating the need for dedicated parking or charging wait times. Copec aims to lead the energy transition towards carbon neutrality with this scalable, sustainable solution. The network will be available at Copec service stations in various Santiago boroughs and features a subscription-based model tailored to riders' needs. Gogoro's global network supports 650,000 riders, with over 1.3 million smart batteries in circulation and 650 million battery swaps, saving over one billion kilograms of CO2 since 2015.
Gogoro (Nasdaq: GGR) has received a notification from Nasdaq indicating that for the last 30 consecutive business days, its ordinary shares' closing bid price was below the minimum requirement of $1.00. The company has been granted a 180-day compliance period until April 28, 2025, to meet the minimum bid price requirement. If the closing bid price remains at $1.00 or higher for at least ten consecutive business days during this period, Gogoro will regain compliance. If unsuccessful, the company may be eligible for an additional 180-day period by transferring to the Nasdaq Capital Market, provided it meets other listing requirements.
Gogoro (Nasdaq: GGR), a global technology leader in battery swapping ecosystems for sustainable urban mobility, has scheduled its third quarter 2024 financial results announcement for November 14, 2024, before market opening. The company will host an earnings webcast at 7:00 a.m. Eastern Time on the same day, with a management Q&A session. The webcast recording will be available on the company's website for approximately two weeks after the event.
Gogoro Inc. (Nasdaq: GGR) and Cycle & Carriage are set to launch battery swapping and Smartscooters in Singapore this month. The partnership aims to introduce a new generation of two-wheel urban transportation and refueling, aligning with Singapore's proactive approach to EV adoption and the LTA's TR25 electric vehicle charging standard.
Three Gogoro Smartscooter models will be introduced: Viva Mix (150km range), Premium (170km range), and SuperSport (170km range with enhanced safety features). The Gogoro Network, which has been successful in Taiwan with over 610,000 riders and 1.4 million smart batteries, offers quick and safe electric refueling through its battery swapping stations.
With only 1% of registered two-wheel vehicles in Singapore being electric in 2023, there is significant market potential for growth. Gogoro Smartscooters are priced competitively, comparable to internal combustion engine two-wheel vehicles in the market.
Gogoro Inc. (Nasdaq: GGR) has been recognized by MIT Technology Review as one of the '15 Climate Tech Companies to Watch' for the second consecutive year. The announcement was made at the EmTech MIT Conference held at the MIT Media Lab in Cambridge, Massachusetts. Gogoro stood out for its successful deployment of electric scooters and battery swapping across Taiwan, with plans for expansion. The company's battery swap stations also serve as a backup power source for the Taiwan power grid.
Gogoro's CEO, Henry Chiang, highlighted that the company has completed over 630 million battery swaps, saving more than one million tons of CO2. The annual list by MIT Technology Review recognizes companies developing or scaling innovative technologies to address climate change.
Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems for sustainable urban mobility, has been recognized on Fortune's 2024 Change the World List. This prestigious annual ranking acknowledges companies making positive social or environmental impacts through their core business strategies and operations.
Gogoro was selected based on its measurable social impact, business results, and degree of innovation. This marks the company's first appearance on the list. The recognition highlights Gogoro's efforts in transforming urban two-wheel transportation, making it smarter, more sustainable, and accessible through its battery swapping ecosystem.
Fortune's 10th edition of the Change the World list features 52 businesses that combine public-spiritedness with profit motives. The final list was chosen from 250 nominees, evaluated on social impact, business results, and innovation.
Gogoro Inc (Nasdaq: GGR) and Nebula Energy announced the commercial launch of Gogoro's battery swapping and Smartscooters in Kathmandu Valley, Nepal, set for October 2024. The companies introduced two new Smartscooter models, Pulse and JEGO, alongside the existing CrossOver GX250. They also revealed 45 battery swapping station locations in Kathmandu Valley, with plans to eventually outnumber petrol stations.
The launch follows a successful pilot program that began in April 2024. Nebula Energy will open the first Gogoro showroom in September 2024, offering test rides and pre-bookings at special introductory prices. The battery swapping stations will be strategically located every 2-3 kilometers for easy accessibility. Gogoro's ecosystem in Taiwan supports over 610,000 riders with 1.4 million smart batteries and 12,500 swapping stations, having saved more than one million tons of CO2 since 2015.
Gogoro Inc. (Nasdaq: GGR) released its Q2 2024 financial results, reporting:
- Revenue of $80.9 million, down 7.2% YoY
- Battery swapping service revenue of $34.7 million, up 4.0% YoY
- Net loss of $20.1 million, compared to $5.6 million in Q2 2023
- Adjusted EBITDA of $11.6 million, down from $12.9 million YoY
The company secured $75 million in equity investments from Gold Sino Assets and Castrol Holdings International Gogoro reported a backlog of 6,500 orders for new Pulse and JEGO Smartscooters, valued at approximately $12.3 million, expected to be recognized as revenue in Q3 2024. The company updated its 2024 revenue guidance to $320-$345 million.
Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems for sustainable urban mobility, has announced its plans to release Q2 2024 financial results on August 15, 2024, before markets open. The company will host an earnings webcast at 8:00 a.m. Eastern Time (8:00 p.m. Taipei Standard Time) on the same day to discuss its financial and business results, as well as future outlook.
Investors and interested parties can access the webcast at https://edge.media-server.com/mmc/p/psxvdfvs/. An archived version of the webcast will be available on Gogoro's website for approximately two weeks following the live Q&A session.
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