Gogoro says JEGO's initial sales show
strongest demand for a Smartscooter since the pandemic began with
the majority or pre order customers being first time EV
buyers.
Gogoro expects to realize the fully-paid JEGO
preorder revenue in Q2 2024.
TAIPEI,
Taiwan, April 24, 2024 /PRNewswire/ -- Gogoro
Inc. (Nasdaq: GGR), a global technology leader in battery-swapping
ecosystems that enable sustainable mobility solutions for cities,
has begun deliveries of its new JEGO Smartscooter in Taiwan. Exceeding 6,500 fully-paid preorders,
JEGO sales are showing the strongest demand for a Gogoro vehicle
since the beginning of the pandemic.
"JEGO has touched a positive chord with a new market segment of
Taiwan riders - nearly all of our
6,500 pre order customers are first time EV riders. They are
looking for a smart, convenient and sustainable vehicle and are not
just embracing JEGO's innovation and design but also access to
Gogoro's vast battery swapping network," said Horace Luke, founder and CEO of Gogoro.
"Initial JEGO sales are surpassing our expectations and showing the
strongest demand we've seen since the beginning of the pandemic.
With deliveries beginning this week, we expect to realize JEGO's
pre order revenue this quarter."
The 6,500 fully paid JEGO pre-orders received are not reflected
in the Taiwan government's Q1
vehicle registration data. As JEGO deliveries have just begun, the
vast majority of sales will not be included in April vehicle
registration data which will be published in early May. These
pre-orders will be included in Taiwan registration data when the vehicles are
registered and Gogoro will account for the vehicle revenue upon
customer delivery.
The new JEGO Smartscooter has a new body design and is equipped
with many of Gogoro's core vehicle innovations. Yet, it is
available at an aggressive starting price of USD$760 after government subsidies. Gogoro also
introduced a new promotional battery swapping subscription plan
that starts at USD$7 per month for
1,000km of range when prepaid for 36 months, its lowest priced
subscription plan ever.
For more information on the JEGO Smartscooter,
visit www.gogoro.com/smartscooter/JEGO.
ABOUT GOGORO
Founded in 2011 to rethink urban energy
and inspire the world to move through cities in smarter and more
sustainable ways, Gogoro leverages the power of innovation to
change the way urban energy is distributed and consumed. Recognized
by Fast Company as "Asia-Pacific's
Most Innovative Company of 2024"; Frost & Sullivan as the "2023
Global Company of the Year for battery swapping for electric
two-wheel vehicles"; and, MIT Technology Review as one of "15
Climate Tech Companies to Watch" in 2023, Gogoro's battery swapping
and vehicle platforms offer a smart, proven, and sustainable
long-term ecosystem for delivering a new approach to urban
mobility. Gogoro has quickly become an innovation leader in vehicle
design and electric propulsion, smart battery design, battery
swapping, and advanced cloud services that utilize artificial
intelligence to manage battery charging and availability. The
challenge is massive, but the opportunity to disrupt the status
quo, establish new standards, and achieve new levels of sustainable
transportation growth in densely populated cities is even greater.
For more information, visit www.gogoro.com/news and
follow Gogoro on Twitter: @wearegogoro.
Forward-Looking Statements
This communication contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements generally relate to future events or Gogoro's future
financial or operating performance. In some cases, you can
identify forward-looking statements because they contain words such
as "may," "will," "should," "expects," "plans," "anticipates,"
"going to," "could," "intends," "target," "projects,"
"contemplates," "believes," "estimates," "predicts," "potential" or
"continue" or the negative of these words or other similar terms or
expressions that concern Gogoro's expectations, performance,
strategy, priorities, plans or intentions. Forward-looking
statements in this communication include, but are not limited to,
statements by Gogoro's founder, and chief executive officer, such
as the market opportunity and transition to electric mobility, the
capability of Gogoro's technology and products, Gogoro's ability to
realize the relevant revenue on time, and Gogoro's business plans
and opportunities including the plans and opportunities to maintain
the momentum of sales. Gogoro's expectations and beliefs
regarding these matters may not materialize, and actual results in
future periods are subject to risks and uncertainties that could
cause actual results to differ materially from those projected,
including risks related to the impact of the COVID-19 pandemic,
risks related to macroeconomic factors including inflation and
consumer confidence, risks related to the execution of its business
plans including its business plans to incentivize consumers to
purchase Gogoro two-wheeled electric vehicles or to use battery
swapping service, risks related to the Taiwan scooter market, risks related to
political tensions, risk related to purchase order cancellation by
customers, risk related to any infringement of other companies
intellectual properties including trademark or patents, Gogoro's
ability to effectively manage its growth, Gogoro's ability to
launch and ramp up the production of Gogoro battery swapping
stations and two-wheeled electric vehicles and control its
manufacturing costs and manage its supply chain issues, Gogoro's
risks related to ability to expand its sales and marketing
abilities, Gogoro's ability to develop and maintain relationships
with its partners, risks related to operating in Taiwan market, regulatory risks and Gogoro's
risks related to strategic collaborations or alliances including
Gogoro's ability to enter into and execute its plans related to
strategic collaborations or alliances in order for such strategic
collaborations or alliances to be successful and generate revenue,
the ability of Gogoro to be successful in the consumer and B2B
market, risks related to Gogoro's ability to achieve operational
efficiencies, the risks related to the need for Gogoro to invest
more capital in strategic collaborations or alliances, and the risk
related to tentative or permanent suspension or termination of
government subsidies for purchasing two-wheeled electric vehicles.
The forward looking statements contained in this communication are
also subject to other risks and uncertainties, including those more
fully described in Gogoro's filings with the Securities and
Exchange Commission ("SEC"), including in Gogoro's Form 20-F for
the year ended December 31, 2022,
which was filed on March 31, 2023 and
in its subsequent filings with the SEC, copies of which are
available on our website and on the SEC's website at www.sec.gov.
The forward-looking statements in this communication are based on
information available to Gogoro as of the date hereof, and Gogoro
disclaims any obligation to update any forward-looking statements,
except as required by law.
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SOURCE Gogoro Inc