Back in September, 2021, electric scooter and technology company Gogoro first announced a plan to go public on NASDAQ in 2022. This came after an intense period of growth, including the establishment of its Powered by Gogoro Network throughout its home country, Taiwan; a deal to bring its tech to India with Hero MotoCorp; and last but not least, deals with Chinese companies Yadea and DCJ to expand in China.
Building on that momentum, Gogoro announced a planned merger with a special purpose acquisition company (SPAC) by the name of Poema Global. This merger officially went through as of April 4, 2022, and the new company will now officially operate under the name Gogoro Inc.
As of April 5, 2022, the newly-formed Gogoro Inc. is now trading ordinary shares and warrants publicly on NASDAQ, respectively using the ticker symbols “GGR” and “GGROW”. Investors in Gogoro currently include Indonesia’s GoTo Group, Hero MotoCorp, Sumitomo Corporation, Hon Hai (Foxconn) Technology Group, Temasek, Generation Investment Management, and Dr. Samuel Yin, who is founder and chairman of Taiwan’s Ruentex Group.
Publicly, Gogoro has announced its plans to grow its network of GoStations in Taiwan, expand into the Indian and Chinese markets, and it also has an eye on future expansion in Southeast Asia. As more countries in the region shift focus to electric vehicles amid rising climatological and environmental concerns, Gogoro is ready to help fuel that change. While we won’t be at all surprised if and when Gogoro announces expansion plans elsewhere, so far, these are the only things that the company has officially stated.
"Gogoro battery swapping is transforming urban mobility in the world's most densely populated cities by changing how people use and share portable energy," Gogoro founder, chairman, and CEO Horace Luke said in a statement.
“With innovative technology, an expanding global footprint, and an experienced management team, Gogoro is well-positioned to transform the urban mobility landscape and capitalize on the electric transition of nearly a billion two-wheel vehicles,” he concluded.
On the one hand, we don’t want to read too much into that “expanding global footprint,” but on the other, given the growth we’ve observed so far, it’s also difficult not to. It also probably helps that Gogoro’s electric scooters are a welcome splash of bright, cheerful colors in an increasingly drab two-wheeler market. For aesthetic reasons alone, we love to see it.