• A Tesla for electric scooters, but with a battery swapping network instead of charging.
• Redbox for electric scooter batteries.
• The Android for electric two-wheeler energy platforms.

• Electric Scooters: Gogoro designs and manufactures smart electric scooters for urban commuters.
• Battery Swapping Network (Battery-as-a-Service): A vast network of GoStation battery swapping stations allowing users to quickly exchange depleted batteries for fully charged ones.
• Powered by Gogoro Network (PBGN) (Technology Licensing/Platform Service): A program enabling other vehicle manufacturers to integrate Gogoro's smart battery and powertrain technologies into their own electric vehicles.

Gogoro (GGR) primarily sells its electric scooters and battery swapping services to individuals.

The company serves the following categories of individual customers:

• Everyday Commuters & Personal Mobility Users: This represents the largest segment of Gogoro's direct customers. These individuals purchase Gogoro electric scooters and subscribe to the battery swapping network for daily commuting, running errands, and general personal transportation within urban and suburban environments. They value the convenience, efficiency, and smart features offered by Gogoro's ecosystem.
• Gig Economy Workers: This category includes individuals working in last-mile delivery services, such as food delivery riders (e.g., for platforms like Foodpanda or Uber Eats) and parcel couriers. They choose Gogoro scooters for their reliability, the significant time-saving benefit of instant battery swapping, and the lower operational costs compared to gasoline-powered alternatives, enabling them to maximize their working efficiency.
• Eco-Conscious & Tech-Savvy Consumers: These are individuals who prioritize sustainable living and are early adopters of innovative technology. They are attracted to Gogoro's environmental benefits (zero emissions), its advanced smart features, and its commitment to building a comprehensive and accessible battery swapping infrastructure as a solution for urban mobility.

• Hero MotoCorp (HEROMOTOCO)
• Panasonic Corporation (6752)
• LG Energy Solution Ltd. (373220)

Henry Chiang, Chief Executive Officer

Henry Chiang leads Gogoro's business strategy, sales, operations, and future planning. He has a proven track record of successfully accelerating digital innovation and industrial transformation. Prior to his current role, Henry served as the General Manager of Gogoro Taiwan. He was instrumental in shaping Gogoro's growth and operations, spearheading the integration of consumer shopping behavior, rewards programs, and urban mobility through the innovative Gogoro Rewards service. He also enhanced Gogoro's customer service and expanded the company's reach across Taiwan. Chiang previously led GoShare, growing it into Taiwan's largest shared-scooter service with over 2.3 million users across nine cities. He has guided Gogoro through a leadership transition since stepping in as interim CEO in September 2024, realigning the organization, focusing on operational efficiency, driving innovation, and expanding its global footprint.

Bruce Aitken, Chief Financial Officer

Bruce Aitken is responsible for Gogoro's global finance and accounting, investment partnerships, and corporate strategy, leading the growth and innovation of Gogoro's scalable business models. Prior to joining Gogoro, he was the General Manager of Amazon's device business in China. Before his tenure at Amazon, Aitken spent over twenty years at Intel, holding various executive leadership roles across Asia, including CFO of China and Director of China Strategy. He received his undergraduate degree from Oregon State University, a graduate degree from the University of Oregon School of Law, and his MBA from Lundquist College of Business.

Horace Luke, Co-founder

Horace Luke co-founded Gogoro in 2011 with Matt Taylor and oversaw product development and corporate strategy from the outset. Prior to establishing Gogoro, Luke served as Chief Innovation Officer at HTC from 2006 to 2011, where he played a pivotal role in transforming the company from a white-label hardware manufacturer into a globally recognized and innovative mobile phone brand. During his time at HTC, he led product strategy from concept to delivery, earning industry awards, including the GSMA's "Best Smartphone of the Year" in 2010 for the HTC Hero. Before HTC, Luke spent ten years at Microsoft (1997-2006), where he led product ideation and brand development for major franchises such as the first-generation Xbox, Windows XP, and Windows Mobile. He also held a key role in brand development at Nike. Gogoro secured $50 million in seed funding from Dr. Samuel Yin of Ruentex Group and Cher Wang in its inaugural year. Gogoro went public in 2022 through a merger with a special-purpose acquisition company (SPAC).

Matt Taylor, Co-founder and Chief Technology Officer

Matt Taylor is a co-founder and Chief Technology Officer at Gogoro, where he is responsible for managing the technical direction of the company's products. Before co-founding Gogoro, Taylor served as the Chief Technologist at HTC, overseeing the software and hardware teams that defined the company's architectural direction. He joined Microsoft in 1998, contributing to the development of early smartphone and wireless Pocket PC initiatives.

Ming-I Peng, Head of Marketing

Ming-I Peng is responsible for Gogoro's marketing programs, bringing over 25 years of experience from various industries, including computers, software, smartphones, and premium automobiles. Prior to joining Gogoro, Ming-I led Greater China marketing and distribution sales for Blackberry. He also held several key executive roles at Nokia, including head of branded retail sales, head of the Live product category in China, and lead for all of Nokia's go-to-market efforts in Taiwan.

The emergence and rapid development of standardized, interoperable battery swapping ecosystems by major global manufacturers and industry consortiums pose a clear emerging threat to Gogoro. Companies like Honda, Yamaha, Piaggio, and KTM, through initiatives such as the Global Swappable Battery Consortium (SBMC), are actively working to define common specifications for swappable batteries for light electric vehicles. This movement aims to create open standards that multiple manufacturers can adopt, directly challenging Gogoro's proprietary battery and swapping network, which is its core differentiator and competitive advantage. Furthermore, regulatory bodies in key markets, such as India's NITI Aayog, are promoting policies that favor interoperability and standardization in battery swapping, potentially accelerating the adoption of these open ecosystems over proprietary solutions.

Gogoro's main products and services primarily revolve around battery swapping technology and electric scooters.

• Battery Swapping for Electric Two-Wheelers

  The global battery-swapping market for electric two-wheelers was estimated at approximately USD 0.46 billion in 2025. It is projected to grow at a compound annual growth rate (CAGR) of 18.71% to reach USD 1.08 billion by 2030.

  More broadly, the global EV battery swapping market was valued at USD 894.2 million in 2024 and is expected to reach USD 2.80 billion by 2029, with a CAGR of 25.5%. The Asia-Pacific region held the largest share of the battery swapping for electric two-wheeler market in 2024, at 45.31%.

• Electric Scooters

  The global electric scooters market size was estimated at USD 37.07 billion in 2023 and is anticipated to grow at a CAGR of 9.9% from 2023 to 2030. It is expected to reach USD 78.66 billion by 2030. In 2022, the Asia Pacific region dominated the electric scooters market, holding a 74.91% share.

  Gogoro holds a significant position in its home market of Taiwan, powering 90% of all electric scooters in the country as of 2022.

1. Growth in Battery Swapping Subscribers: Gogoro's subscription-based battery swapping service is a significant and growing component of its revenue. The company has consistently reported an increase in its subscriber base, with total subscribers reaching 644,000 by the end of Q1 2025, an 8% increase from the previous year. This growth directly contributes to higher battery swapping service revenue. In Q4 2024, battery swapping service revenue was up 10.2% year-over-year, and 4.6% for the full year 2024. The company continues to accumulate new subscribers on its network, which is expected to grow in line with expectations.
2. International Market Expansion: Gogoro is actively expanding its presence in international markets. This includes a joint venture with Castrol and strategic adjustments in India, as well as increased demand for its solutions in Korea for B2B applications. Progress is also being made towards establishing a joint venture with Castrol in Vietnam, indicating future revenue potential from these new geographical markets.
3. New Product Launches and Innovation: The company is focused on introducing new products and vehicle platforms to stimulate sales. This includes the launch of the EZZY vehicle in Q2 2025 and an entirely new vehicle platform planned for 2026. While hardware sales have seen some declines, new vehicle introductions are anticipated to drive sales volume in subsequent quarters.
4. Leveraging Government Subsidies for EV Adoption: Gogoro aims to capitalize on government subsidies and incentives that promote electric vehicle (EV) adoption. This focus is expected to drive revenue from its battery swapping and energy services by making electric two-wheelers more accessible and attractive to consumers.

Share Issuance

• Gogoro completed a SPAC merger with Poema Global Holdings Corp. on April 5, 2022, becoming a public company.
• Prior to and during the merger, Gogoro secured a Private Investment in Public Equity (PIPE) totaling $295 million, which included investments from strategic partners and institutional investors.
• At the merger's close, Gogoro issued 201,125,149 Ordinary Shares to existing shareholders and 29,482,000 Ordinary Shares to PIPE Investors.

Inbound Investments

• A significant inbound investment was the $295 million PIPE, which included commitments from strategic partners such as Hon Hai (Foxconn) Technology Group, GoTo Group, Hero MotoCorp, Engine No. 1, Generation Investment Management, Temasek, and Dr. Samuel Yin of Ruentex Group.

Outbound Investments

• In 2023, Gogoro reported a net change in long-term investments of -$19 million.
• Gogoro has formed a strategic joint venture with Castrol Holdings to expand into Vietnam, with a full launch anticipated in 2026.

Capital Expenditures

• Gogoro has invested approximately $100 million annually in capital expenditures over the last three years (up to Q2 2025).
• These capital expenditures are primarily focused on expanding and upgrading the Gogoro Network, including the deployment of new GoStations, battery packs, and software updates.
• Ongoing programs for one-time, voluntary upgrades to certain battery packs are expected to continue through 2025.