Gogoro partners with HPCL to introduce battery swapping at fuel retail outlets

In Mumbai, India, on November 6, 2023, Gogoro Inc. (Nasdaq: GGR), a company specializing in battery swapping ecosystems for sustainable urban transportation, has revealed the signing of a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Ltd. (HPCL), an Indian oil company operating a network of over 21,000 retail outlets.

As per the official statement, the Gogoro Network, offers a modern battery swapping system that is intelligent, secure, and consistently improving to cater to the needs of riders, businesses, and communities. Globally, the network currently serves close to 600,000 riders and boasts over 1.3 million smart batteries in circulation. Operating through a network of 12,000 battery swapping stations across 2,500 locations, it conducts over 400,000 battery swaps daily and has facilitated nearly 500 million swaps to date. This initiative has resulted in a reduction of more than 750,000 tons of CO2 emissions since its inception.

Horace Luke, founder and CEO of Gogoro, highlighted India’s early-stage transition to electric two-wheel transportation. He emphasized the significance of battery swapping and announced a partnership with HPCL to deploy Gogoro stations at their retail outlets nationwide. Luke stressed the need for accessible and scalable electric transportation in India.

“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,” said Amit Garg, Director of Marketing at HPCL. “Gogoro has demonstrated its global leadership in battery swapping and electric two-wheel innovation and with nearly 500 million battery swaps to date has developed a platform we can embrace and emulate.”

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