The country’s largest two-wheeler major Hero MotoCorp and Taiwan’s smart mobility innovation company Gogoro on Wednesday announced a strategic partnership to establish a battery swapping joint venture (JV) to bring the latter’s battery swapping platform to India, collaborate on electric vehicle development and bring Hero-branded, Gogoro Network-powered vehicles to the market.
Gogoro Network is a hyper-efficient battery swapping platform. With more than 375,000 riders and 2,000 battery swapping stations, Gogoro Network manages 265,000 battery swaps daily with more than 174 million total battery swaps to date.
Pawan Munjal, chairman and CEO, Hero MotoCorp, said, “Our strategic partnership with Gogoro is in line with our vision — ‘Be the Future of Mobility’ — which we are bringing alive through our Mission to ‘Create, Collaborate & Inspire’. Today marks another major milestone in our journey, as we bring Hero’s leadership in two-wheelers, our global scale and innovation powerhouse, with the leadership of Gogoro in swapping business model, as they have demonstrated over the years in Taiwan and rest of the world.”
The Gogoro Network is an open platform for battery swapping and smart mobility services, delivering a fresh alternative to legacy fuel. 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 optimising itself to be dynamic and versatile for people, communities and businesses.
Munjal said: “This partnership will further extend the work, which we are doing at our R&D hubs at the Centre of Innovation and Technology (CIT) in Jaipur & our Tech Centre in Germany. The vision and commitment of Hero and Gogoro is perfectly aligned towards the common goal of accelerating the shift to smart, sustainable electric mobility in India, and around the world. With this new partnership, we commit to introducing a sustainable mobility paradigm, first in India and then in other markets around the world. This partnership will strengthen and expedite the Indian government’s electrification drive and will have a significant impact on India’s energy and mobility future.”
The JV will give partners access to Gogoro innovations and intellectual property, including Gogoro Network’s intelligent drive-trains and controllers, components and smart systems, so they can develop and roll-out unique electric vehicles that integrate Gogoro Network battery swapping.
Horace Luke, founder & CEO of Gogoro, said: “We are at a critical stage in the transformation of urban mobility and the evolution of smart cities. With more than 225 million gas-powered two-wheel vehicles in India, the need for smart and sustainable electric transportation and refueling is vital. The Hero-Gogoro partnership addresses these challenges and will leverage Hero’s market strength and Gogoro’s industry leading innovations to deliver smart vehicles and refueling with Gogoro Network battery swapping.”
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