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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 Inc. (Nasdaq: GGR) has announced the world's first commercial deployment of battery swapping technology in collaboration with Enel X, establishing 2,500 battery swapping stations across 1,000 locations in Taiwan's Virtual Power Plant (VPP). This initiative, which follows a successful pilot in 2022, aims to support Taiwan's renewable energy transition. Currently, nearly 1,300 GoStations have been deployed, with plans for an additional 1,200 by mid-2023. The Gogoro Network will temporarily reduce energy usage or return energy to the grid as needed, enhancing grid efficiency. This partnership positions Gogoro to diversify its revenue and reinforces its role in Taiwan's energy market, as forecasted opportunities in electricity sharing could reach tens of billions of New Taiwan Dollars.
Gogoro (NASDAQ: GGR) has announced a pioneering partnership with Zomato and Kotak Mahindra Prime Limited to facilitate electric vehicle adoption among delivery partners in India. This initiative offers favorable loan terms to enable access to electric two-wheelers, aligning with the Indian government's push for sustainable transportation. Zomato, with over 300,000 delivery partners, aims for 100% EV-based deliveries by 2030. The partnership leverages Gogoro's battery swapping technology to enhance operational efficiency and reduce delivery times. This collaboration represents a significant stride towards sustainable urban mobility in India.
Gogoro announces a groundbreaking partnership with Cycle & Carriage Singapore and foodpanda to implement a battery swapping pilot for electric two-wheel vehicles in Singapore. This initiative aims to enhance sustainable mobility for last-mile deliveries, aligning with Singapore's Green Plan 2030. The pilot, utilizing Gogoro's Swap & Go technology, focuses on improving delivery efficiency while reducing reliance on gas-powered vehicles. With insights from the pilot, Gogoro aims to expand its electric vehicles and battery swapping stations, fostering eco-friendly transportation solutions in urban settings.
Gogoro Inc. (NASDAQ: GGR) has released its inaugural Impact Report, detailing its advancements in sustainability and ESG initiatives. The report emphasizes four strategic areas: Cleaner Planet, Safety & Resilience, Responsible Business, and Social Impact. With nearly 2 million customers and 400 million battery swaps, Gogoro showcases significant achievements, including a reduction of 603 million kilograms of CO2 emissions and the creation of 3,000+ green jobs. The company is committed to increasing its use of renewable energy, aiming for 100% sustainability in operations. For more details, the full report is accessible online.
Gogoro Inc. (Nasdaq: GGR) reported its Q4 and full year results for 2022, revealing a quarterly revenue of $95.5 million, a decline of 20.8% year-over-year. Full year revenue increased 4.6% to $382.8 million. Q4 network revenue rose 19.5% to $31.4 million, while net loss narrowed to $12.5 million. The company aims for 2023 revenue between $400 million and $450 million, highlighting the growth potential from key international partnerships. Gogoro's liquidity is strong, with a cash position of $236.1 million and an extended credit facility.
Gogoro Inc. (Nasdaq: GGR) will release its financial results for Q4 and the full year of 2022 on February 16, 2023, before market opening. An earnings Webcast is scheduled at 7:00 a.m. Eastern Time to discuss the financial and business results along with future outlook. Founded in 2011, Gogoro is focused on sustainable urban mobility solutions through innovative battery swapping technology and electric vehicle platforms. The company aims to transform urban energy distribution and consumption, establishing standards for sustainable transportation growth in cities. For more details, visit their website.
Gogoro Inc. (Nasdaq: GGR) has entered a strategic partnership with the Indian State of Maharashtra and Belrise Industries to establish a $2.5 billion battery-swapping infrastructure. This initiative, announced on January 17, 2023, at the World Economic Forum in Davos, aims to create the largest sustainability-focused portable energy system. The partnership plans to deploy smart battery stations across Maharashtra, enhancing smart transportation, energy storage, and job creation in the region. The infrastructure rollout is expected to commence in 2023, marking a significant step towards sustainable urban mobility and energy solutions.
Gogoro Inc. (Nasdaq: GGR) announced it led electric scooter sales in Taiwan for the seventh consecutive year in 2022, with electric scooters accounting for 12% of total sales. The Gogoro Network powered 90% of electric scooters in Taiwan, including five of the top six manufacturers. The report emphasizes growing demand for cleaner transportation options, with Gogoro's battery swapping infrastructure surpassing gas stations in urban areas. The network serves over 524,000 riders, supporting more than 1.1 million smart batteries and achieving over 370 million total battery swaps, reducing CO2 emissions by 250,000 tons.
Gogoro Inc. (Nasdaq: GGR) supports Taiwan's extension of its electric two-wheel vehicle subsidy program for four years, enhancing sustainable transportation efforts. The initiative, revealed by Minister Mei Hua Wang, will allocate $191.5 million from 2023 to 2026 for purchasing electric scooters, installing battery facilities, and transforming traditional shops. Gogoro touts over 1.1 million smart batteries and a network with more daily battery swaps than gas stations, saving over 250,000 tons of CO2 since its launch.
Gogoro Inc. (Nasdaq: GGR) has announced a strategic partnership with Globe's 917Ventures and Ayala Corporation to introduce eco-friendly battery swapping solutions for the last mile delivery industry in the Philippines. The pilot program will launch in Q1 2023 in Manila, utilizing Gogoro's Smartscooters and battery swapping technology. Endorsed by the Philippine government, this initiative aims to enhance sustainability and operational efficiency for local logistics businesses, drawing from successful implementations in Taiwan.
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