Gogoro Inc Stock Price, News & Analysis

Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems for sustainable urban mobility, has been recognized on Fortune's 2024 Change the World List. This prestigious annual ranking acknowledges companies making positive social or environmental impacts through their core business strategies and operations.

Gogoro was selected based on its measurable social impact, business results, and degree of innovation. This marks the company's first appearance on the list. The recognition highlights Gogoro's efforts in transforming urban two-wheel transportation, making it smarter, more sustainable, and accessible through its battery swapping ecosystem.

Fortune's 10th edition of the Change the World list features 52 businesses that combine public-spiritedness with profit motives. The final list was chosen from 250 nominees, evaluated on social impact, business results, and innovation.

Gogoro Inc (Nasdaq: GGR) and Nebula Energy announced the commercial launch of Gogoro's battery swapping and Smartscooters in Kathmandu Valley, Nepal, set for October 2024. The companies introduced two new Smartscooter models, Pulse and JEGO, alongside the existing CrossOver GX250. They also revealed 45 battery swapping station locations in Kathmandu Valley, with plans to eventually outnumber petrol stations.

The launch follows a successful pilot program that began in April 2024. Nebula Energy will open the first Gogoro showroom in September 2024, offering test rides and pre-bookings at special introductory prices. The battery swapping stations will be strategically located every 2-3 kilometers for easy accessibility. Gogoro's ecosystem in Taiwan supports over 610,000 riders with 1.4 million smart batteries and 12,500 swapping stations, having saved more than one million tons of CO2 since 2015.

Gogoro Inc. (Nasdaq: GGR) released its Q2 2024 financial results, reporting:

- Revenue of $80.9 million, down 7.2% YoY
- Battery swapping service revenue of $34.7 million, up 4.0% YoY
- Net loss of $20.1 million, compared to $5.6 million in Q2 2023
- Adjusted EBITDA of $11.6 million, down from $12.9 million YoY

The company secured $75 million in equity investments from Gold Sino Assets and Castrol Holdings International Gogoro reported a backlog of 6,500 orders for new Pulse and JEGO Smartscooters, valued at approximately $12.3 million, expected to be recognized as revenue in Q3 2024. The company updated its 2024 revenue guidance to $320-$345 million.

Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems for sustainable urban mobility, has announced its plans to release Q2 2024 financial results on August 15, 2024, before markets open. The company will host an earnings webcast at 8:00 a.m. Eastern Time (8:00 p.m. Taipei Standard Time) on the same day to discuss its financial and business results, as well as future outlook.

Investors and interested parties can access the webcast at https://edge.media-server.com/mmc/p/psxvdfvs/. An archived version of the webcast will be available on Gogoro's website for approximately two weeks following the live Q&A session.

Gogoro Inc. (Nasdaq: GGR) has been certified to launch its battery swapping and Smartscooters in Singapore, with plans to launch in Q4 2024 through its exclusive distribution partner, Cycle & Carriage (C&C). This follows a successful sandbox pilot with foodpanda, which demonstrated high satisfaction among riders. C&C has also partnered with Shell Recharge to launch battery swapping GoStations at Shell service stations in Singapore.

Key points:

• Three Smartscooter models will be available: SuperSport, Premium, and Viva Mix
• Pilot results show riders accumulating ~2,200km per month with up to two battery swaps daily
• First Shell-based GoStation expected by August 2024
• Gogoro Network in Taiwan supports 600,000+ riders with 1.4 million batteries and 12,500 GoStations

Castrol, a global leader in lubricants and part of the bp group, announced an investment of up to US$50 million in Gogoro, a leading battery-swapping technology company. The investment will be split into two tranches: an initial US$25 million in ordinary shares, giving Castrol approximately 5.72% of Gogoro's outstanding shares, and a potential US$25 million in a convertible note, contingent on successful business collaboration between the parties. This move is part of Castrol's 'Onward, Upward, Forward' strategy to diversify beyond lubricants and fluids. Gogoro aims to accelerate sustainable urban mobility with its battery-swapping platform for electric two-wheelers.

Gogoro Inc. (Nasdaq: GGR), a leader in two-wheel battery swapping, announced a $50 million investment from Gold Sino Assets to expand its smart urban mobility solutions.

Since its 2015 launch, Gogoro has achieved over 570 million battery swaps and currently facilitates more than 400,000 daily swaps.

This investment will aid Gogoro's growth in Taiwan and international markets, supporting continued innovation and customer value.

The agreement includes the issuance of 32,516,095 ordinary shares at $1.5377 per share and a warrant to purchase 10,838,698 shares at $1.6915 per share.

The deal is expected to close within days.

Gogoro (Nasdaq: GGR) held its Annual General Meeting (AGM) on May 30, 2024. Shareholders approved all resolutions proposed at the meeting. Key approvals included the re-election of Mr. Chung-Yao Yin and Mr. Hui-Ming Cheng as Class II Directors, each to serve until the 2027 AGM, subject to earlier resignation or removal.

Shareholders also approved a provision allowing the adjournment of the AGM by the chairman if additional proxies are needed to pass any resolutions. Additionally, directors and officers are authorized to take necessary actions to implement the approved resolutions.

Terpel and Gogoro have launched a two-wheel battery swapping and Smartscooter initiative in Bogota, Colombia. The launch includes four GoStations, with plans to expand to 14 by the end of 2024 and further into other Colombian cities.

This initiative aims to accelerate sustainable transportation in Colombia with Gogoro's Swap & Go battery-swapping technology, which has already facilitated 590 million battery swaps globally. The Gogoro 2 Plus and Gogoro VIVA Mix Smartscooters are part of this launch, marketed by Motored, a prominent two-wheel distributor in Colombia.

Gogoro's interoperable battery swapping platform supports over 600,000 riders in Taiwan and has saved more than 870,750 tons of CO2 since 2015. This collaboration aims to contribute to Colombia's decarbonization goals.