Gogoro to Manufacture E-Scooter Bikes in India and Introduce Battery Swap Network
Updated: Aug 26
Gogoro, the Taiwanese electric scooter maker, has announced its plans to produce e-scooter bikes in India and establish approximately 100 battery swap stations by mid-2024.
The company's CEO, Horace Luke, revealed this development, marking Gogoro's entry into one of the world's fastest-growing vehicle markets.
Gogoro has committed to investing $1.5 billion in western Maharashtra state, where it will collaborate with Foxconn to manufacture its CrossOver e-scooter. The production of these e-scooters has already commenced, with the initial focus on selling them to delivery fleet operators and bike taxis. A variant for personal use will be launched next year and Gogoro also plans to export these vehicles from India.
Luke emphasised the strategic importance of entering the Indian market, stating, "We think the timing is right to come to India. It's very strategic and very important to us." Although India's e-scooter market currently represents only 4% of total two-wheeler sales in the country, it is rapidly expanding. Companies like Ola Electric, Ather and TVS Motor have already introduced new electric models, driven by the government's goal of achieving 70% electric two-wheeler sales by 2030.
Gogoro's battery swap model allows customers to replace discharged batteries with fully charged ones, enabling quick refueling for delivery and taxi riders. By initially targeting fleet operators, Gogoro aims to scale its swapping stations in a predictable manner and establish a solid customer base. Luke predicts that within five years, half of Gogoro's e-scooter sales in India will come from fleet operators, while the other half will be from personal buyers. Additionally, around 20% of the vehicles produced in India will be exported to neighboring countries like Nepal and Southeast Asia.
The introduction of Gogoro's e-scooter production and battery swap network in India aligns with the government's efforts to promote electric mobility and reduce pollution. This move also reflects the growing demand for sustainable transportation solutions in the country.
Gogoro plans to manufacture e-scooter bikes in India and establish 100 battery swap stations by mid-2024.
The company has committed to investing $1.5 billion in western Maharashtra state and will collaborate with Foxconn for production.
Initially, Gogoro will sell e-scooters to delivery fleet operators and bike taxis, with a variant for personal use to be launched next year.
Source: REUTERS
