An Indo-Taiwanese joint venture has signed a memorandum of understanding with the Maharashtra government to set up a battery swapping infrastructure which will witness an investment of $2.5 billion over eight years.
The non-binding agreement was signed at the Maharashtra pavilion of the World Economic Forum in Davos, Switzerland, between Taiwan’s Gogoro Inc and Pune-based Belrise Industries (formerly Badve Engineering).
The companies plan to build a smart energy infrastructure in Maharashtra that is open and accessible and establishes battery swapping and smart battery stations as a leading source for mobility and energy storage.
Speaking to FE, Horace Luke, founder and CEO of Gogoro Inc said, “After doing a pilot in Delhi, we will be implementing it in Maharashtra. You will see stations in Mumbai, Pune and other big cities of the state starting with the top 10.”
In addition to the smart infrastructure, the partnership is also expected to foster smart electric vehicle manufacturing and assembly in the state.
Devendra Fadnavis, Deputy Chief Minister of Maharashtra. “We are partnering with Gogoro and Belrise to deploy the world’s largest and most innovative smart energy infrastructure to utilise battery swapping for solving the unique and distributed energy challenges we face daily.”
Gogoro’s energy ecosystem includes battery stations, swapping technologies and network management solutions. It will also contribute in the areas of smart city design and development, energy storage stations and systems, smart mobility sharing, electric vehicles, demand response services and distributed energy storage, smart agriculture among other applications.
Gogoro, which is a market leader in its home market, is in partnership with Hero MotoCorp, the country’s largest two-wheeler manufacturer, for developing electric two-wheelers suitable for Gogoro’s battery swapping technology.