Gogoro has surpassed 500,000 monthly battery swapping subscribers in Taiwan with 92 percent market share in the first half of 2022. The battery swapping major currently supports ten different vehicle brands, accounting for more than 25 percent of all two-wheelers sold in Taipei in H1.
Speaking about the half-million battery swapping subscribers and its implications, Horace Luke, founder, chairman and chief executive officer of Gogoro said, “Taiwan is an excellent example of how an open battery swapping ecosystem can enable governments, businesses, vehicle makers and riders to embrace sustainable electric transportation.”
At the heart of Gogoro’s ecosystem is the Gogoro Network, an open and interoperable battery swapping platform that was recognised in 2021 by Guidehouse Insights.
The Gogoro Network is an open platform for battery swapping and offers new generation of swappable battery refueling that the company claims is smart, scalable and continually optimising itself to be dynamic and versatile for people, communities, and businesses.
The Powered by Gogoro Network Program gives Gogoro’s vehicle maker partners access to Gogoro innovations including its intelligent drivetrains and controllers, components and smart systems. With more than 500,000 riders and nearly 11,000 battery swapping GoStation cabinets at over 2,240 locations, Gogoro Network is hosting 340,000 daily battery swaps with more than 325 million total battery swaps to date.
Earlier this month Gogoro had revised its revenue guidance down to $380.0 million from $410.0 million earlier, given the current market and macroeconomic conditions combined with the impact of Covid-19 in Taiwan. The company aims to focus on maintaining its gross margin in the second half of the year. Its third quarter revenue is expected to contribute around 25 percent of the full year revenue and estimates that almost all of 2022’s full year revenue will be from the Taiwanese market.
