Gogoro to rollout battery swapping stations to thousands of HPCL retail gas outlets across India in coming years.
MUMBAI, INDIA, NOVEMBER 6, 2023 – Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it had signed a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Ltd. (HPCL), a major Indian oil company, with more than 21,000 retail outlets.
“India is in the early stages of a massive electric transformation of its urban two-wheel transportation system and it is increasingly evident that battery swapping is a critical component to broad adoption, so building out the swapping infrastructure is crucial. Today, we are announcing a partnership with HPCL, one of India’s leading oil companies, to rollout thousands of Gogoro battery swapping stations across its retail outlets throughout the country in the coming years,” said Horace Luke, founder, and CEO of Gogoro. “There is nowhere on earth that needs smart electric transportation more than India, and Gogoro is joining together with the Indian business community and national and local governments to deploy a battery swapping and electric vehicle ecosystem that is open, accessible and scalable.”
“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 DK Sharman, Executive Director, Corporate Strategy and Business Development 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.”
Gogoro Battery Swapping
With more locations than gas stations in Taiwan’s cities, the Gogoro Network is a new generation of swappable battery refueling that is smart, safe, and continually optimizing itself to be dynamic and versatile for riders, businesses, and communities. The Gogoro Network supports nearly 600,000 riders and has more than 1.3 million smart batteries in circulation through its network of 12,000 battery swapping stations at over 2,500 locations. With more than 400,000 daily battery swaps and nearly 500 million total battery swaps to date, Gogoro Network battery swapping has saved more than 750,000 tons of CO2 since it launched.
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 and awarded by 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 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 https://www.gogoro.com/news and follow Gogoro on Twitter: @wearegogoro.
HPCL is a Maharatna CPSE and a Forbes 2000 company. It is listed on the Bombay Stock exchange (BSE) and National Stock Exchange (NSE), India. HPCL has the second largest share of product pipelines in India with a pipeline network of more than 3370 kms for transportation of petroleum products and a vast marketing network consisting of 14 Zonal offices in major cities and 128 Regional Offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Pipeline networks, Aviation Service Stations, LPG Bottling Plants, Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships. HPCL is committed to achieve the economic, ecological & social responsibility objectives of sustainable development consistently through varied operations and activities. For more information, visit https://www.hindustanpetroleum.com.