Gogoro marks entry in Indian Market, welcomes all EV manufacturers to join the open network | The Financial Express

Gogoro marks entry in Indian Market, welcomes all EV manufacturers to join the open network

Horace Luke, Founder, Chairman, and Chief Executive Officer, Gogoro elaborated on the company’s current plan in India, beginning with deploying a 100 pilot vehicles.

Gogoro marks entry in Indian Market, welcomes all EV manufacturers to join the open network
Luke explained his aim of putting in his bit in India's electrification journey through Gogoro’s open platform.

Taiwan-based battery-swapping ecosystem provider, Gogoro, inked a strategic B2B partnership with Zypp Electric, an EV-as-a-Service providing company. 

Addressing the media, Horace Luke, Founder, Chairman, and Chief Executive Officer, Gogoro elaborated on the company’s current plan in India, beginning with deploying a 100 pilot vehicles, “It really is about collecting great data, calibrating our technology and based on the use case of the population, basically refine our system so that we can actually get ready for India.” 

Luke explained his aim of putting in his bit in India’s electrification journey through Gogoro’s open platform, “It’s always been an open platform, that the platform will then accelerate the adoption of electric. We’ve always seen the platform as an enabler. It is not just one or two brands, but today in India, there are 200 vehicle makers, 200 brands, now, who will need this technology.”

On the localisation front, Luke pointed out how the company is  teaming up its technology with Foxconn’s manufacturing investment and capability in India to localise and create high value technology manufacturing. “In India, we will localise as much as we can, and will enable as much as we can, because sustainability is the most important factor and it makes no sense to me to make batteries elsewhere and put it on a boat and come over here.” 

“And that’s one of the reasons why you saw us going public on the NASDAQ earlier this year is to really have a platform where we can raise capital, to have transparency and governance so that as we build a network with partners,” he added.

Not disclosing the investment figures, Luke compared the business and growth potential in India and Taiwan and the volume gameplan,“Taiwan sells about 700,000 vehicles a year, India sells about 16 million vehicles a year. So that’s 20 times more than the volume of the Taiwan market.”

The company has so far partnered with ten vehicle makers  over the past several years in its bid to accelerate the EV adoption and make their system more turnkey, more easy to adopt. For now, it is eyeing only for the B2B market, and will plan anything once successful with the pilot which is set to begin in December, this year. 

Adopting the middle of the road model, the company has gone for variations in the price range. Since, the target is delivery riders who are okay with a 125 cc, the prices will not be very steep. However, the company has not focussed much on affordability, rather on durability and reliability. 

“Just because they’re riding for the gig economy, doesn’t mean they don’t deserve to have a great vehicle they can depend on every day. It doesn’t have to be cheap, it doesn’t have to be made out of parts that are going to fall off once in a while. That is not what electrification is about. Electrification in India is about high quality, high scale with the environment that needs it the most,” added Luke.

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First published on: 05-11-2022 at 16:30 IST