Gogoro partners with HPCL to set battery swapping stations across India
Gogoro, a global leader in battery-swapping ecosystems for electric two-wheelers, has signed a deal with HPCL, one of India’s major oil companies, to develop a network of battery-swapping stations across the country. The partnership aims to support India’s electric transformation of its urban two-wheel transportation system and provide a sustainable and accessible mobility solution for cities.
The two companies have agreed to a Memorandum of Understanding (MoU) that will enable Gogoro to roll out thousands of its battery-swapping stations at HPCL’s 21,000 retail outlets in the coming years.
The battery swapping stations will allow electric two-wheeler riders to exchange their depleted batteries for fully charged ones in seconds, eliminating the need for long charging times and reducing the demand for grid electricity.
Gogoro, which is listed on Nasdaq, has already established a successful battery swapping and vehicle platform in Taiwan, where it has more than 1.3 million smart batteries in circulation and more than 600,000 riders. The company has also expanded its presence in other markets, such as China, the Philippines, South Korea, and Italy, where it has partnered with Enel X to integrate its battery-swapping stations into a virtual power plant.
“There is nowhere on earth that needs smart electric transportation more than India, and Gogoro is joining together with the Indian business community and national and local governments to deploy a battery swapping and electric vehicle ecosystem that is open, accessible and scalable.”Horace Luke, founder and CEO of Gogoro
“HPCL and Gogoro are partnering to develop a broad battery swapping infrastructure for two-wheel vehicles that will both grow and sustain a leading electric vehicle ecosystem in India that is safe, clean and readily available across India’s cities.”DK Sharman, Executive Director, Corporate Strategy and Business Development at HPCL
Gogoro and HPCL’s partnership is expected to boost the adoption of electric two-wheelers in India, which is one of the largest markets for two-wheelers in the world, with more than 200 million vehicles on the road. The Indian government has also announced various incentives and policies to promote electric mobility, such as the FAME II scheme and the PLI scheme.
Gogoro is a Taiwanese company that specializes in electric two-wheelers and battery swapping systems.
It has developed its own line of smart scooters that run on its network of battery swapping stations, which allow riders to exchange their batteries in seconds.
Gogoro also partners with other vehicle makers to provide its technology and platform. Gogoro aims to promote urban sustainability and reduce greenhouse gas emissions by transforming the transportation system.