Taiwanese electric scooter manufacturer Gogoro has put its plans for India on hold due to the delay in the government’s subsidy schemes for battery swapping vehicles. Despite this setback, the company has initiated a bike-taxi pilot program with Rapido to test its vehicles before launching them commercially.
Waiting for Indian Government’s Incentive Schemes
Gogoro’s co-founder and CEO, Horace Luke, revealed during the Q2 earnings call that the company is waiting for the finalization of incentive schemes from the Indian government before expanding its sales and production in the country. The delay has pushed their revenue projections for India from 2024 to 2025.
Optimism for India’s Electric Vehicle Market
Despite the delays, Gogoro remains optimistic about the Indian market and believes in the potential for electric vehicle disruption in countries like India and Southeast Asia. The company has already launched its battery-swapping network and smart scooters in India, aiming for market expansion and growth.
Collaboration and Expansion Plans
Gogoro has partnered with local Indian electric two-wheeler OEMs to test and deploy their network solutions in the country. The company is actively collaborating with five Indian OEMs and engaging in vehicle testing to provide a wider range of electric vehicle options for B2B customers in India.
Future Plans and Investments
Gogoro has invested significant amounts in India and plans to invest more in the future. The company is focused on expanding its presence in the Indian market and continues to innovate with new collaborations and products. Despite challenges in the Taiwanese market, Gogoro remains committed to its expansion efforts in India and other potential markets.
