Gogoro's broadly deployed battery swapping
ecosystem together with JEGO's new design, vehicle innovation and
aggressive introductory price creates a new market segment
in Taiwan.
TAIPEI,
Taiwan, March 13, 2024 /PRNewswire/ -- Gogoro Inc.
(Nasdaq: GGR), a global technology leader in battery-swapping
ecosystems that enable sustainable mobility solutions for cities,
today announced that its new JEGO Smartscooter has achieved strong
sales in its first week on the market. JEGO sales reached nearly
eight-times Gogoro's weekly L1 vehicle category sales for 2024 and
more than tripled Gogoro's weekly L1 year-over-year sales compared
to February 2023. Gogoro plans to
begin deliveries of JEGO by the end of March.
"We've launched the new Gogoro JEGO Smartscooter in Taiwan and experienced strong sales in its
first week on the market with more than three-times our weekly
sales from February 2023 and nearly
eight-times our weekly sales this year. This initial momentum
demonstrates the affinity this new market segment has for JEGO and
its new design, innovation and value," said Horace Luke, founder and CEO of Gogoro.
"Gogoro's L1 category of Smartscooters traditionally account
for less than 20% of our sales, but with the initial success of
JEGO, we are seeing interest from a new broader market. This
segment is looking for a more convenient and easier to use
commuting solution that is also clean and sustainable. JEGO has the
potential to shift the balance of Gogoro's L1 and L3 vehicle sales.
Gogoro's goal is to accelerate and expand the transition to
electric two-wheel transportation in Taiwan and around the world, and the JEGO's
solid market entrance is a testament to that ambition."
"With more than 12,000 battery swapping stations and 1.3 million
Gogoro smart batteries deployed across Taiwan we are now starting to see the mass
market adoption generated through the convenience offered by swap
and go battery swapping," said Henry
Chiang, general manager of Gogoro Taiwan. "It is the
combination of the usability of our Gogoro Network and the
functional design of the new JEGO Smartscooter that made this early
sales momentum possible."
The new JEGO Smartscooter has a new body design and is equipped
with many of Gogoro's core vehicle innovations. Yet, it is
available at a new aggressive starting price of USD$760 after government subsidies. Gogoro also
introduced a new promotional battery swapping subscription plan
that starts at USD$7 per month for
1,000km of range when prepaid for 36 months, its lowest priced
subscription plan ever.
For more information on the JEGO Smartscooter, visit
www.gogoro.com/smartscooter/JEGO.
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" 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 Gogoro's founder, and chief executive officer and
general manager of Gogoro Taiwan, such as the market opportunity
and transition to electric mobility, the capability of Gogoro's
technology, 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 Taiwan
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
Taiwan 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