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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) reported third-quarter 2022 financial results, showing revenue of $102.2 million, an increase of 1.5% year-over-year. The Gogoro Network revenue reached $30.4 million, a 17.7% year-over-year increase. The company achieved a net income of $56.4 million, a significant turnaround from a $13.4 million loss in the previous year, aided by favorable financial liabilities changes. However, adjusted EBITDA fell to $9.2 million, down from $15.2 million. Gogoro updated its full-year revenue guidance to $370 million to $390 million due to ongoing macroeconomic headwinds.
Gogoro Inc. (Nasdaq: GGR) has announced a strategic partnership with Zypp Electric to launch a B2B battery swapping pilot in Delhi in December 2022. This initiative aims to electrify last mile delivery fleets in India using Gogoro's proven battery swapping technology, which has facilitated over 350 million battery swaps globally. The partnership aligns with India's goals to promote electric vehicles and reduce pollution, leveraging Gogoro's advanced platform and infrastructure for sustainable logistics.
Gogoro Inc. (Nasdaq: GGR) will release its financial results for Q3 2022 on November 10, 2022, before the market opens. An earnings webcast is scheduled for the same day at 7:00 a.m. Eastern Time to discuss the company's performance and future outlook. Founded in 2011, Gogoro is a leader in sustainable urban mobility solutions, utilizing battery swapping technology and advanced cloud services. With a focus on innovation, the company aims to transform urban energy distribution through smart, sustainable practices.
Gogoro Inc. (Nasdaq: GGR) has secured a NT$10.7 billion (approximately $345 million) five-year credit facility agreement with a group of ten banks, led by Mega International Commercial Bank. This facility, comprising two term loans and a revolving credit line, will be utilized to repay existing debts, purchase energy cells, and support working capital for Gogoro Network operations in Taiwan. The agreement includes favorable terms contingent on Gogoro's carbon reduction goals, highlighting the company's commitment to ESG practices.
Gogoro Inc. (Nasdaq: GGR) has launched its battery swapping system and Smartscooters in the Tel Aviv Metro area, in partnership with Metro Motor and Paz Group. They plan to deploy 35 battery swapping locations by the end of 2022, expanding to over 150 stations in the next four years. The initiative aims to improve urban mobility and promote sustainable transportation. Gogoro's Smartscooters feature advanced technology, including a water-cooled motor and smart app integration. This launch marks a significant step in the Israeli transportation industry, aligning with goals for greener mobility options.
Gogoro Inc. (Nasdaq: GGR) has received approval from Singapore's Land Transport Authority to launch a sandbox pilot for its battery swapping system, partnering with Jardine Cycle & Carriage. This initiative aims to promote sustainable urban mobility solutions by deploying Gogoro's electric scooters and battery swapping infrastructure in Singapore. The program aligns with Singapore's Green Plan 2030, targeting eco-friendly alternatives for logistics and delivery fleets. With over 92% market share in Taiwan’s battery swapping market, Gogoro is positioned to expand its innovative solutions across Southeast Asia.
Gogoro (Nasdaq: GGR) collaborates with TSMC and Taichung City to introduce GoShare, an electric mobility sharing service aimed at enhancing sustainable transportation for nearly 3 million residents in Taichung, Taiwan. The initiative includes 24/7 access to Gogoro Smartscooters, exclusive coupons for 50,000 students, and discounts for 60,000 TSMC employees. This partnership reflects a commitment to reducing carbon footprints and advancing urban mobility solutions, establishing a model for sustainability in Taiwan and Asia.
Gogoro has surpassed 500,000 monthly battery swapping subscribers in Taiwan, a significant milestone since the launch of its battery swapping network and Smartscooter in 2015. With over 325 million battery swaps executed and a daily average of 340,000 swaps, Gogoro maintains a commanding 92% market share in Taiwan's electric two-wheel vehicle market. The company's ecosystem supports ten vehicle manufacturers and has over 2,240 battery swapping locations, showcasing the effectiveness of its innovative battery swapping technology.
Gogoro Inc. (Nasdaq: GGR) reported its second-quarter results for 2022, achieving a revenue of $90.7 million, which is a 5.3% increase year-over-year, despite COVID impacts. Gogoro Network revenue rose 29.1% to $30.4 million, driven by a growing subscriber base now exceeding 484,000. However, the net loss surged to $121.1 million, primarily due to a one-time $178.8 million SPAC merger expense. Gross margin improved to 14.0%, showcasing operational efficiency. The company adjusted its 2022 revenue guidance to $380 million to $410 million amid ongoing market challenges.
Gogoro Inc. (Nasdaq: GGR) will release its financial results for Q2 2022 on August 11, 2022, before markets open. A management webcast will follow at 8:00 a.m. Eastern Time to discuss financial and business results, including outlook. Gogoro is a leader in battery swapping ecosystems for sustainable urban mobility, founded in 2011. Their innovative solutions aim to transform urban energy distribution and consumption, supporting smarter transportation methods. For more details, visit their website.
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