Initially available for B2B customers in the
city of Kathmandu, Gogoro Battery
Swapping is scheduled to be available to consumers later
this year.
Gogoro's entrance into Nepal is an extension of its India commercialization and utilizes Gogoro's
new India-made CrossOver GX250
Smartscooter.
KATHMANDU, Nepal, April 26,
2024 /PRNewswire/ -- Nebula Energy and Gogoro
Inc (Nasdaq: GGR), a global technology leader in battery-swapping
ecosystems that enable sustainable mobility solutions for cities,
today launched Gogoro Battery Swapping and introduced the Gogoro
CrossOver GX250 Smartscooter in Nepal. The announcement was made at a media
event in the city of Kathmandu,
Nepal, where the first battery swapping station is located.
Nebula is an authorized and exclusive partner of Gogoro Inc.
"Gogoro is at the forefront of sustainable urban transportation
and together we plan to contribute to Nepal's zero-emission targets through this new
age of sustainable energy, mobility and technology," said
Manoj Goyal, chairman of Nebula
Energy.
"We are proud to be partnering with an industry leader like
Nebula Energy who shares our vision for accelerating the electric
transformation of Nepal's
two-wheel transportation industry. Nepal is at the forefront of clean energy
generation and utilization and is actively promoting two- and
four-wheel EV adoption and our partnership is sure to make a
significant impact," said Horace
Luke, founder and CEO of Gogoro. "Together, Gogoro and
Nebula Energy share a vision for accelerating the electric
transformation of Nepal's
two-wheel transportation industry. Gogoro battery swapping is
optimized to provide convenient Swap & Go access to Gogoro
Smart Batteries in seconds. Gogoro's new Gogoro CrossOver GX250 is
optimized for riders in Nepal with
more seating and storage space and better ground clearance."
Gogoro battery swapping will initially be available to strategic
B2B customers in the Kathmandu
valley where Nebula plans to rollout Gogoro battery swapping
stations every two to three kilometers. Nebula plans to offer
Gogoro Smartscooters at consumer retail locations later in
2024.
"Mass adoption of two-wheel EVs in Nepal must be enabled through smart and
innovative technologies like Gogoro's battery swapping and
Smartscooters," said Sahayu Goyal, managing director at Nebula
Energy. "Gogoro's Swap & Go battery-swapping provides a
unique solution that addresses the major challenges that
Nepal riders face when deciding to
buy an electric two-wheeler today Nebula plans to install more
Gogoro battery swapping stations than the number of petrol stations
in Nepal."
"Our partnership with Nebula Energy is a natural extension of
our India commercialization and we
are excited to be leveraging our new India-based manufacturing capabilities to
deliver the new Gogoro CrossOver to Kathmandu," said Yang Chen, vice president of Gogoro.
Gogoro CrossOver Smartscooter Series
Nebula Energy is introducing the Gogoro CrossOver GX250
Smartscooter, the ultimate Two-Wheel SUV. The GX250 is manufactured
in Maharashtra, India and is
Gogoro's first India-made
Smartscooter. The CrossOver series is built on a redesigned
all-terrain frame that enables increased rigidity and comfort while
offering a variety of storage, riding, and customization
capabilities. The CrossOver GX250's new frame design greatly
increases the durability of the suspension system and accommodates
larger loads while emphasizing comfort and stability.
Gogoro Battery Swapping Technology
At the heart of Gogoro's ecosystem is an open and
interoperable battery swapping platform that is recognized by
Guidehouse Insights as the leading battery swapping platform for
lightweight urban vehicles in the world. Gogoro battery swapping is
a new generation of swappable battery refueling that is smart,
safe, and continually optimizing itself to be dynamic and versatile
for riders, businesses, and communities.
In Taiwan, the Gogoro Network
supports more than 600,000 riders and has more than 1.4 million
smart batteries in circulation through its network of 12,500
battery swapping stations at over 2,500 locations. Currently Gogoro
has over 90% market share in electric two wheelers in Taiwan and the number of GoStations outnumbers
petrol stations. With more than 400,000 daily battery swaps and
more than 570 million total battery swaps to date, Gogoro battery
swapping has saved more than 870,750 tons of CO2 since it launched
in 2015.
Battery swapping is an innovative concept that involves the
quick replacement of a depleted battery with fully charged ones,
providing users with a rapid and efficient way to extend their
vehicle's range. Battery swapping technology helps solve the
current obstacles for wide-scale adoption and addresses the urban
mobile energy demands in a safe, sustainable, and scalable way.
Gogoro's Battery Swapping addresses many of the concerns associated
with electric two-wheeler adoption in Nepal including:
- Reduction in total cost of ownership
- Addressing concerns regarding battery ownership and replacement
cost
- Mitigating range anxiety as battery swapping is the quickest
way to refuel a vehicle; quicker than ICE vehicles.
- Reducing charging time – no requirement of self-charging as
swapping can happen in seconds.
ABOUT MG GROUP AND NEBULA ENERGY
Nebula Energy is a wholly owned subsidiary of MG Group and is a
new energy venture committed to leading the way towards an
environmentally sustainable and energy independent Nepal.
MG Group has been at the forefront of business in Nepal for over three decades and is credited
as a pioneer in numerous sectors. The Group's diverse portfolio of
businesses includes manufacturing industry, real-estate
development, banking and investments, hydropower development and
electric mobility, mirroring its unwavering dedication to fostering
innovation and sustainable development. The Group has a
concentrated focus on generation and utilization of clean energy
sources and believes that it can contribute to Nepal's net-zero commitments and goals.
Group Mission: Ultimately, as a Group, our mission is to
coordinate individual purpose at scale. We aim to connect ideas,
people and organizations to deliver impact. Through our efforts we
hope to align global standards and best practices to local
ventures. As our focus is primarily on greenfield projects and
ventures that help accelerate innovation in Nepal. This we believe will help Nepal emerge on the international platform as
an attractive place to do business.
ABOUT GOGORO
Founded in 2011 to rethink urban energy and inspire the world to
move through cities in smarter and more sustainable
ways, Gogoro leverages the power of innovation to change the
way urban energy is distributed and consumed. Recognized by Fast
Company as "Asia-Pacific's Most
Innovative Company of 2024"; Frost & Sullivan as the "2023
Global Company of the Year for battery swapping for electric
two-wheel vehicles"; and, MIT Technology Review as one of "15
Climate Tech Companies to Watch" in 2023, Gogoro's battery swapping
and vehicle platforms offer a smart, proven, and sustainable
long-term ecosystem for delivering a new approach to urban
mobility. Gogoro has quickly become an innovation leader in vehicle
design and electric propulsion, smart battery design, battery
swapping, and advanced cloud services that utilize artificial
intelligence to manage battery charging and availability. The
challenge is massive, but the opportunity to disrupt the status
quo, establish new standards, and achieve new levels of sustainable
transportation growth in densely populated cities is even greater.
For more information, visit www.gogoro.com/news and
follow Gogoro on Twitter: @wearegogoro.
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements generally relate to future
events or Gogoro's future financial or operating performance. In
some cases, you can identify forward-looking statements because
they contain words such as "may," "will," "should," "expects,"
"plans," "anticipates," "going to," "could," "intends," "target,"
"projects," "contemplates," "believes," "estimates," "predicts,"
"potential" or "continue" or the negative of these words or other
similar terms or expressions that concern Gogoro's expectations,
performance, strategy, priorities, plans or intentions.
Forward-looking statements in this communication include, but are
not limited to, statements by Nebula Energy's chairman, and
Gogoro's founder and chief executive officer, such as the market
opportunity and transition to electric mobility, the capability of
Gogoro's technology and products, Gogoro's ability to realize the
relevant revenue on time, and Gogoro's business plans and
opportunities including the plans and opportunities to maintain the
momentum of sales. Gogoro's expectations and beliefs regarding
these matters may not materialize, and actual results in future
periods are subject to risks and uncertainties that could cause
actual results to differ materially from those projected, including
risks related to the impact of the COVID-19 pandemic, risks related
to macroeconomic factors including inflation and consumer
confidence, risks related to the execution of its business plans
including its business plans to incentivize consumers to purchase
Gogoro two-wheeled electric vehicles or to use battery swapping
service, risks related to the Nepal scooter market, risks related to
political tensions, risk related to purchase order cancellation by
customers, risk related to any infringement of other companies
intellectual properties including trademark or patents, Gogoro's
ability to effectively manage its growth, Gogoro's ability to
launch and ramp up the production of Gogoro battery swapping
stations and two-wheeled electric vehicles and control its
manufacturing costs and manage its supply chain issues, Gogoro's
risks related to ability to expand its sales and marketing
abilities, Gogoro's ability to develop and maintain relationships
with its partners, risks related to operating in Nepal market, regulatory risks and Gogoro's
risks related to strategic collaborations or alliances including
Gogoro's ability to enter into and execute its plans related to
strategic collaborations or alliances in order for such strategic
collaborations or alliances to be successful and generate revenue,
the ability of Gogoro to be successful in the consumer and B2B
market, risks related to Gogoro's ability to achieve operational
efficiencies, the risks related to the need for Gogoro to invest
more capital in strategic collaborations or alliances, and the risk
related to tentative or permanent suspension or termination of
government subsidies for purchasing two-wheeled electric vehicles.
The forward looking statements contained in this communication are
also subject to other risks and uncertainties, including those more
fully described in Gogoro's filings with the Securities and
Exchange Commission ("SEC"), including in Gogoro's Form 20-F for
the year ended December 31, 2022,
which was filed on March 31, 2023 and
in its subsequent filings with the SEC, copies of which are
available on our website and on the SEC's website
at www.sec.gov. The forward-looking statements in this
communication are based on information available to Gogoro as of
the date hereof, and Gogoro disclaims any obligation to update any
forward-looking statements, except as required by law.
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SOURCE Gogoro Inc