Bikebank's New Dotstation Electric Mobility
Brand Will be both Consumer-facing and Sell Vehicles and Battery
Swapping Services Back to Bikebank for its B2B Last Mile
Deliveries.
SEOUL,
South Korea, May 24, 2023
/PRNewswire/ -- Gogoro Inc. (Nasdaq: GGR), a global technology
leader in battery swapping ecosystems that enable sustainable
mobility solutions for cities, today announced it was expanding its
partnership with Bikebank in Korea. The companies will introduce
Gogoro Smartscooters and battery swapping to Korean consumers in Q3
2023 under the Dotstation brand, expanding their battery swapping
network to seven additional cities beyond Seoul. Gogoro Smartscooters and battery
swapping have been operating in Seoul for food deliveries since 2019.
"It is great to be growing our partnership with Bikebank, a
company that shares similar values and is committed to accelerating
the shift to electric transportation in Korea. Seoul has one of the largest food delivery
ecosystems in the world and was one of the first markets to embrace
Gogoro battery swapping for food deliveries," said Horace Luke, founder, and CEO of Gogoro.
"Together, we are introducing Gogoro Smartscooters and battery
swapping to Korean consumers while we continue to grow our B2B food
delivery business where we work with market leaders to enable
sustainable food delivery."
To better support growth, Bikebank has opened two Dotstation
retail stores for consumers and last mile delivery riders and
expanded the battery swapping network to more than 70 battery
swapping stations across Korea in the cities of Seoul, Daegu, Sejong, Changwon, Incheon,
Gyeongsan, Gyeonggi, and Ulsan.
"Together with Gogoro, we are accelerating the transformation of
urban mobility in Korea. We created Dotstation to lead us forward
into a new era of sustainable urban transportation that provides a
path for Korean consumers to embrace sustainability in a new and
practical way," said Minkyu Kim,
CEO of Bikebank. "Dotstation is expanding Gogoro battery
swapping services to eight Korean cities, and we anticipate
launching more battery swapping locations this year with a range of
vehicles including Gogoro Smartscooters for consumers."
The companies also announced that Korea's leading food delivery
companies, Logiall, and Manna Plus, are already using Gogoro
Smartscooters and the company's battery swapping network.
Gogoro Battery Swapping
With more locations than gas stations in Taiwan's cities, the Gogoro Network 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. The Gogoro Network supports
540,000 riders and has more than 1.1 million smart batteries in
circulation through its network of 12,000 battery swapping stations
at over 2,500 locations. With more than 400,000 daily battery swaps
and more than 465 million total battery swaps to date, Gogoro
Network battery swapping has saved more than 650,000 tons of CO2
since it launched.
About Bikebank
Founded in 2019 to improve the Korea's two-wheeled vehicle
environment and to develop and supply eco-friendly mobility that
customers want, Bikebank has achieved the top market share in just
three years since its establishment by identifying key problems in
Korea's existing two-wheeled vehicle delivery market where delivery
riders were not able to be properly guaranteed in the event of an
accident. As a result of striving to deliver the best value to
customers, Bikebank won the highest accolade at the "2022 Korea
4th Industry Leading Company." In addition to its
vehicle rental business, Bikebank is steadily trying to improve
Korea's two-wheeled vehicle environment by expanding its business
to various fields such as maintenance services, vehicle sales
including used vehicles, online shopping malls, and electric
two-wheeled businesses.
About Dotstation
As a subsidiary of Bikebank, the leading company in motorcycle
rental and delivery services in South
Korea, Dotstation has teamed up exclusively with Gogoro, the
world leader in battery swapping and smart two-wheel vehicles, to
address the increasingly serious environmental issues that we face
every day. Our goal is to accelerate the transition from internal
combustion engine motorcycles to electric two-wheel vehicles in
Korea. Starting with the most widely used market for motorcycles -
the delivery industry - we aim to convert all internal combustion
engine motorcycles to electric vehicles. We are actively
collaborating with the Ministry of Environment and local
governments to construct battery swapping stations.
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 and awarded by Frost &
Sullivan as the "2023 Global Company of the Year for battery
swapping for electric two-wheel vehicles," 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 availability and safety.
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 https://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,
strategy, priorities, plans or intentions. Forward-looking
statements in this communication include, but are not limited to,
the potential of the partnership between Gogoro and Bikebank,
including the potential benefits of such partnership, ability of
such partnership to achieve its goals, projections of market
opportunity, market share and potential growth in Korea, the
capability of Gogoro's technology, business plans for Gogoro and
Bikebank including related to its expectations related to its plans
to deploy swapping stations in Korea, including its timeline for
such deployment, statements by Gogoro's founder, chairman and chief
executive officer and statement by CEO of Bikebank. 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 political tensions, Gogoro's ability to effectively manage its
growth, Gogoro's ability to launch and ramp up the production of
its products 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 expand
effectively into new markets, foreign exchange fluctuations,
Gogoro's ability to develop and maintain relationships with its
partners, risks related to operating in Korea, regulatory risks and
Gogoro's risks related to strategic collaborations, risks related
to international markets 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, alliances or joint ventures to be successful and
generate revenue, and the risks related to the need for Gogoro to
invest more capital in strategic collaborations or alliances. 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