Welcome to our dedicated page for Gogoro news (Ticker: GGR), a resource for investors and traders seeking the latest updates and insights on Gogoro stock.
Gogoro Inc. (Nasdaq: GGR) is an automobile manufacturing and urban mobility company that focuses on battery swapping ecosystems for electric two-wheel vehicles. As a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, Gogoro regularly publishes updates on its operations, markets, and financial performance.
This news page aggregates company-issued press releases and other coverage related to Gogoro’s business. Readers can find quarterly financial results, such as second and third quarter earnings releases that detail battery swapping service revenue, sales of hardware and other revenue, gross margin trends, adjusted EBITDA, and operating cash flow. These updates often discuss macroeconomic conditions in the Taiwan two-wheeler market, organizational efficiency measures, and the impact of cost-saving initiatives.
Gogoro also uses news releases to highlight product developments and ecosystem expansion. Recent communications describe new vehicle launches like EZZY and EZZY 500, product pipeline plans, and enhancements to its Gogoro Network and battery packs. The company reports on the growth of its subscription-based battery swapping business, subscriber numbers, and the strengthening of its Powered by Gogoro Network (PBGN) partner ecosystem, including partner vehicle launches that use Gogoro’s battery swapping platform.
Corporate and capital markets announcements are another key category of news. Gogoro has reported on its Annual General Meeting of Shareholders, approval and implementation of a 1-for-20 share consolidation, and director undertakings related to potential equity investments and discussions with lenders about credit facility amendments. Leadership updates, such as the appointment of Henry Chiang as official chief executive officer, are also communicated through press releases.
Investors and followers of GGR stock can use this page to review historical announcements, track recurring themes such as operational discipline and network efficiency, and monitor how Gogoro describes its progress toward profitability and sustainable urban mobility. Regular visits to this news feed provide context on how the company’s battery swapping and vehicle platforms evolve over time.
Gogoro announces a groundbreaking partnership with Cycle & Carriage Singapore and foodpanda to implement a battery swapping pilot for electric two-wheel vehicles in Singapore. This initiative aims to enhance sustainable mobility for last-mile deliveries, aligning with Singapore's Green Plan 2030. The pilot, utilizing Gogoro's Swap & Go technology, focuses on improving delivery efficiency while reducing reliance on gas-powered vehicles. With insights from the pilot, Gogoro aims to expand its electric vehicles and battery swapping stations, fostering eco-friendly transportation solutions in urban settings.
Gogoro Inc. (NASDAQ: GGR) has released its inaugural Impact Report, detailing its advancements in sustainability and ESG initiatives. The report emphasizes four strategic areas: Cleaner Planet, Safety & Resilience, Responsible Business, and Social Impact. With nearly 2 million customers and 400 million battery swaps, Gogoro showcases significant achievements, including a reduction of 603 million kilograms of CO2 emissions and the creation of 3,000+ green jobs. The company is committed to increasing its use of renewable energy, aiming for 100% sustainability in operations. For more details, the full report is accessible online.
Gogoro Inc. (Nasdaq: GGR) reported its Q4 and full year results for 2022, revealing a quarterly revenue of $95.5 million, a decline of 20.8% year-over-year. Full year revenue increased 4.6% to $382.8 million. Q4 network revenue rose 19.5% to $31.4 million, while net loss narrowed to $12.5 million. The company aims for 2023 revenue between $400 million and $450 million, highlighting the growth potential from key international partnerships. Gogoro's liquidity is strong, with a cash position of $236.1 million and an extended credit facility.
Gogoro Inc. (Nasdaq: GGR) will release its financial results for Q4 and the full year of 2022 on February 16, 2023, before market opening. An earnings Webcast is scheduled at 7:00 a.m. Eastern Time to discuss the financial and business results along with future outlook. Founded in 2011, Gogoro is focused on sustainable urban mobility solutions through innovative battery swapping technology and electric vehicle platforms. The company aims to transform urban energy distribution and consumption, establishing standards for sustainable transportation growth in cities. For more details, visit their website.
Gogoro Inc. (Nasdaq: GGR) has entered a strategic partnership with the Indian State of Maharashtra and Belrise Industries to establish a $2.5 billion battery-swapping infrastructure. This initiative, announced on January 17, 2023, at the World Economic Forum in Davos, aims to create the largest sustainability-focused portable energy system. The partnership plans to deploy smart battery stations across Maharashtra, enhancing smart transportation, energy storage, and job creation in the region. The infrastructure rollout is expected to commence in 2023, marking a significant step towards sustainable urban mobility and energy solutions.
Gogoro Inc. (Nasdaq: GGR) announced it led electric scooter sales in Taiwan for the seventh consecutive year in 2022, with electric scooters accounting for 12% of total sales. The Gogoro Network powered 90% of electric scooters in Taiwan, including five of the top six manufacturers. The report emphasizes growing demand for cleaner transportation options, with Gogoro's battery swapping infrastructure surpassing gas stations in urban areas. The network serves over 524,000 riders, supporting more than 1.1 million smart batteries and achieving over 370 million total battery swaps, reducing CO2 emissions by 250,000 tons.
Gogoro Inc. (Nasdaq: GGR) supports Taiwan's extension of its electric two-wheel vehicle subsidy program for four years, enhancing sustainable transportation efforts. The initiative, revealed by Minister Mei Hua Wang, will allocate $191.5 million from 2023 to 2026 for purchasing electric scooters, installing battery facilities, and transforming traditional shops. Gogoro touts over 1.1 million smart batteries and a network with more daily battery swaps than gas stations, saving over 250,000 tons of CO2 since its launch.
Gogoro Inc. (Nasdaq: GGR) has announced a strategic partnership with Globe's 917Ventures and Ayala Corporation to introduce eco-friendly battery swapping solutions for the last mile delivery industry in the Philippines. The pilot program will launch in Q1 2023 in Manila, utilizing Gogoro's Smartscooters and battery swapping technology. Endorsed by the Philippine government, this initiative aims to enhance sustainability and operational efficiency for local logistics businesses, drawing from successful implementations in Taiwan.
Gogoro Inc. (Nasdaq: GGR) reported third-quarter 2022 financial results, showing revenue of $102.2 million, an increase of 1.5% year-over-year. The Gogoro Network revenue reached $30.4 million, a 17.7% year-over-year increase. The company achieved a net income of $56.4 million, a significant turnaround from a $13.4 million loss in the previous year, aided by favorable financial liabilities changes. However, adjusted EBITDA fell to $9.2 million, down from $15.2 million. Gogoro updated its full-year revenue guidance to $370 million to $390 million due to ongoing macroeconomic headwinds.
Gogoro Inc. (Nasdaq: GGR) has announced a strategic partnership with Zypp Electric to launch a B2B battery swapping pilot in Delhi in December 2022. This initiative aims to electrify last mile delivery fleets in India using Gogoro's proven battery swapping technology, which has facilitated over 350 million battery swaps globally. The partnership aligns with India's goals to promote electric vehicles and reduce pollution, leveraging Gogoro's advanced platform and infrastructure for sustainable logistics.