Taiwan's Gogoro subscriber-base for battery swapping swells to 400,000

05, Aug. 2021

Gogoro, which operates a growing network of battery swapping stations in Taiwan, has surpassed 200 million battery swaps since launching them in 2015. (Photo: Gogoro)
Gogoro, which operates a growing network of battery swapping stations in Taiwan, has surpassed 200 million battery swaps since launching them in 2015. (Photo: Gogoro)

TAIWAN, NNA - Gogoro Inc continues to reign as the industry leader in EV battery swapping in Taiwan having signed up its 400,000th monthly subscriber recently.

Playing its part to accelerate the shift to sustainable urban mobility, the company has also surpassed 200 million battery swaps since launching the service in 2015.

These milestones demonstrate Gogoro's commitment to transforming urban transportation with innovative technology and continued growth in Taiwan, the company said in a press release on August 3.

Horace Luke, Gogoro founder and CEO, said, "Gogoro's strong momentum in monthly subscriber growth and total swapped batteries, along with our expanding list of partnerships with vehicle makers, are all strong indicators of our global leadership in urban battery swapping and smart mobility services."

Gogoro claims to have saved 300 million kilograms of CO2, equivalent to what more than 30 million trees would absorb in a year.

Luke said, "We are proud of our success to date and the progress we have made with our customers to save more than 300 million kilograms of CO2. With this momentum and our recent strategic announcements in India and China, we're just getting started."

Gogoro Network, a hyper-efficient battery swapping platform, has quickly become the de facto standard for powering electric two-wheel vehicles in Taiwan.

With more than 400,000 riders and 2,100 battery swapping stations, the Gogoro Network manages to carry out 270,000 battery swaps daily.

Collaborating with vehicle partners, Gogoro-powered vehicles account for nearly 97 percent of all electric scooters sold in Taiwan, said the company.

It said, "Gogoro Network combines the power of connectivity, artificial intelligence, and machine learning to create a new generation of swappable battery refueling that is smart, scalable and continually optimizing itself to be dynamic and versatile for people, communities and businesses."

Recognizing its achievements, market research firm Frost & Sullivan has awarded Gogoro with the 2020 company of the year award for the global swappable battery electric scooter market.

Gogoro's vehicle maker partners have access to its innovations and intellectual property including its intelligent drivetrains and controllers, components and smart systems. This enables them to develop unique electric vehicles that integrate with its battery swapping.

In June, Taiwan's leading semiconductor producer Foxconn and Gogoro announced a strategic partnership to accelerate Gogoro's global expansion amid growing interest for its battery swapping solutions.

They will utilize Foxconn's advanced manufacturing capabilities to scale for Gogoro battery swapping technologies and smart scooters.

In May, Gogoro said it was partnering Chinese two-wheel vehicle producers Dachangjiang Group (DCJ) and Yadea to build a battery swapping network in China.

Al Gore, Nobel Peace prize winner and former Vice President of the United States, said, "Asia's most populated cities are beginning to adopt cleaner urban transportation systems for their millions of scooter and motorcycle riders by leveraging innovative electric refueling solutions like Gogoro battery swapping."

Gore, who is co-founder and chairman of Generation Investment Management, an investor in Gogoro, added, "Gogoro's partnership with Yadea and DCJ in China, which builds upon their existing work with Hero MotoCorp in India, sends a clear signal that the world's two-wheel leaders are helping to fuel the sustainability revolution in Asia with smart battery swapping."

The global electric vehicle battery swapping market reached a revenue of $148.2 million in 2020 and it is expected to surge significantly over the next 10 years, according to a report by P&S Intelligence in July.

The Asia-Pacific region is set to dominate the EV battery swapping market during the forecast period due to strong efforts made by several Chinese companies to develop the battery swapping technology.

"With the rising demand for electric mobility, the major players in the market are rapidly augmenting their operations in the region," said P & S.

While COVID-19 pandemic lockdowns have slammed the EV battery swapping market, the situation is becoming normal in many countries, with the market starting to show signs of resurgence during the last quarter of 2020, it added.