Taipei – May 2, 2022 – Gogoro® Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced its full year 2021 financial results.
For the year ended 2021, Gogoro reported Revenue of $366.0 million, exceeding guidance by $39.0 million (+11.9%) and up $1.9 million (0.5%) from the previous year.
The Company accumulated over 450,000 subscribers in Taiwan as of December 31, 2021, up 23.5% from the previous year.
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. 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 availability and safety. 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.
Gogoro Media Contact:
Jason Gordon, Gogoro
Gogoro Investor Contact:
Michael Bowen, ICR, LLC.
FORWARD LOOKING STATEMENTS
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section21E 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, strategy, priorities, plans or intentions. Forward-looking statements in this communication include, but are not limited to, Gogoro’s beliefs regarding Gogoro’s future operating performance, projections of market opportunity and market share, the capability of Gogoro’s technology and Gogoro’s business plans. 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, Gogoro’s ability to effectively manage its growth, Gogoro’s ability to launch and ramp up the production of its products and control its manufacturing costs, Gogoro’s ability to expand its sales and marketing abilities, Gogoro’s ability to expand effectively into new markets, Gogoro’s ability to enter into strategic collaborations or alliances, Gogoro’s ability to develop and maintain relationships with its partners, risks related to operating in the PRC and regulatory risks. 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 which was filed on May 2, 2022 and in its subsequent filings with the SEC. 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.