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 Inc. (Nasdaq: GGR) will release its financial results for Q3 2022 on November 10, 2022, before the market opens. An earnings webcast is scheduled for the same day at 7:00 a.m. Eastern Time to discuss the company's performance and future outlook. Founded in 2011, Gogoro is a leader in sustainable urban mobility solutions, utilizing battery swapping technology and advanced cloud services. With a focus on innovation, the company aims to transform urban energy distribution through smart, sustainable practices.
Gogoro Inc. (Nasdaq: GGR) has secured a NT$10.7 billion (approximately $345 million) five-year credit facility agreement with a group of ten banks, led by Mega International Commercial Bank. This facility, comprising two term loans and a revolving credit line, will be utilized to repay existing debts, purchase energy cells, and support working capital for Gogoro Network operations in Taiwan. The agreement includes favorable terms contingent on Gogoro's carbon reduction goals, highlighting the company's commitment to ESG practices.
Gogoro Inc. (Nasdaq: GGR) has launched its battery swapping system and Smartscooters in the Tel Aviv Metro area, in partnership with Metro Motor and Paz Group. They plan to deploy 35 battery swapping locations by the end of 2022, expanding to over 150 stations in the next four years. The initiative aims to improve urban mobility and promote sustainable transportation. Gogoro's Smartscooters feature advanced technology, including a water-cooled motor and smart app integration. This launch marks a significant step in the Israeli transportation industry, aligning with goals for greener mobility options.
Gogoro Inc. (Nasdaq: GGR) has received approval from Singapore's Land Transport Authority to launch a sandbox pilot for its battery swapping system, partnering with Jardine Cycle & Carriage. This initiative aims to promote sustainable urban mobility solutions by deploying Gogoro's electric scooters and battery swapping infrastructure in Singapore. The program aligns with Singapore's Green Plan 2030, targeting eco-friendly alternatives for logistics and delivery fleets. With over 92% market share in Taiwan’s battery swapping market, Gogoro is positioned to expand its innovative solutions across Southeast Asia.
Gogoro (Nasdaq: GGR) collaborates with TSMC and Taichung City to introduce GoShare, an electric mobility sharing service aimed at enhancing sustainable transportation for nearly 3 million residents in Taichung, Taiwan. The initiative includes 24/7 access to Gogoro Smartscooters, exclusive coupons for 50,000 students, and discounts for 60,000 TSMC employees. This partnership reflects a commitment to reducing carbon footprints and advancing urban mobility solutions, establishing a model for sustainability in Taiwan and Asia.
Gogoro has surpassed 500,000 monthly battery swapping subscribers in Taiwan, a significant milestone since the launch of its battery swapping network and Smartscooter in 2015. With over 325 million battery swaps executed and a daily average of 340,000 swaps, Gogoro maintains a commanding 92% market share in Taiwan's electric two-wheel vehicle market. The company's ecosystem supports ten vehicle manufacturers and has over 2,240 battery swapping locations, showcasing the effectiveness of its innovative battery swapping technology.
Gogoro Inc. (Nasdaq: GGR) reported its second-quarter results for 2022, achieving a revenue of $90.7 million, which is a 5.3% increase year-over-year, despite COVID impacts. Gogoro Network revenue rose 29.1% to $30.4 million, driven by a growing subscriber base now exceeding 484,000. However, the net loss surged to $121.1 million, primarily due to a one-time $178.8 million SPAC merger expense. Gross margin improved to 14.0%, showcasing operational efficiency. The company adjusted its 2022 revenue guidance to $380 million to $410 million amid ongoing market challenges.
Gogoro Inc. (Nasdaq: GGR) will release its financial results for Q2 2022 on August 11, 2022, before markets open. A management webcast will follow at 8:00 a.m. Eastern Time to discuss financial and business results, including outlook. Gogoro is a leader in battery swapping ecosystems for sustainable urban mobility, founded in 2011. Their innovative solutions aim to transform urban energy distribution and consumption, supporting smarter transportation methods. For more details, visit their website.
Gogoro Inc. (Nasdaq: GGR) reported record first-quarter revenue of $94.5 million, a 61% year-over-year increase. Hardware sales reached $65.1 million (up 87.1%), while Gogoro Network revenue was $29.4 million (up 23%). The subscriber base grew to over 467,000, a 25.2% annual growth. Despite a net loss of $21.7 million, adjusted EBITDA rose 124.1% to $13.5 million. The company expects full-year revenue of $460 million to $500 million, marking a 25.7% to 36.6% increase compared to 2021.
Gogoro Inc. (GGR) has partnered with Metro Motor and Paz Group to introduce a battery swapping ecosystem in the Tel Aviv metro area and beyond this summer. This initiative aims to facilitate sustainable urban mobility through Gogoro's innovative Smartscooters and battery swapping technology. Currently managing over 350,000 battery swaps daily, Gogoro has completed more than 275 million total swaps since 2015. The collaboration seeks to enhance Gogoro's market presence in Israel, capitalizing on the growing electric two-wheeler market.