Taiwanese electric startup Gogoro made its public debut on April 7, listed on NASDAQ via special purpose acquisition company (SPAC). Seeking to change the EV sphere with its battery swapping infrastructure, its GoStations are on track to overtake petrol stations in Taiwan by the end of 2021.
What is Gogoro?
Gogoro is an infrastructure company that develops smart and portable electric power. Rather than buying a vehicle with a battery, the consumer buys a vehicle without a battery. Then, we will swap and go with the abundance of stations across the urban landscape. Instead of waiting to get a fast charge within 30 minutes, with no down time, Gogoro provides a full energy swap for urban electric two-wheelers like scooters, mopeds and motorcycles. Apart from that, it also has its own product line of SmartScooters.
Opportunities for millions to go green
The two-wheeler market is gigantic. With China, India, Indonesia, there are 60 million two-wheeler vehicles per year. The Gogoro Network is designed to be deployed in cities for electric refueling for a monthly subscription fee. Taiwan, its pilot market with the highest scooter density globally, has more than 370,000 riders and managed more than 175 millions swaps across its network of 2,000 GoStations. Even in the event of grid failure, some GoStations have grid batteries so you do not have to worry about not getting enough electricity. With such potential, it is exciting to think about how the EV market can scale exponentially in other Asian markets!
How does it work?
You may check out the video here.
Simply swap and go in less than 6 seconds! Interconnected through a central system, you have ready access via your mobile devices. Similar to the size of an ATM Machine, GoStations can be easily found in convenient hotspots like gas stations and convenience stores.
Being modular in nature,the GoStation™ only requires half an hour to install, making it easy to expand the Gogoro® Energy Network to new locations. As the hassle of charging has been removed from the equation, the GoStation Battery Pack has a low physical footprint, allowing for speedy expansion and ease of scalability in its network.
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