Gogoro has delayed its expansion plans in India due to ongoing policy uncertainty, particularly regarding the Indian government’s anticipated battery-swapping incentive scheme. Despite this, the Taiwanese electric two-wheeler manufacturer has initiated a bike-taxi pilot with aggregator Rapido in New Delhi to test its vehicles before a broader commercial rollout.
Gogoro‘s co-founder and CEO, Horace Luke, highlighted that the company must wait for the finalization of government incentives before increasing vehicle sales and battery pack production in India. The expected revenue from the Indian market has been postponed from 2024 to 2025 due to these delays in subsidies for battery-swapping vehicles.
Luke emphasized that Gogoro is actively working with India’s heavy industries ministry to ensure that the forthcoming Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME 3) scheme includes benefits for battery-swapping infrastructure, similar to those previously extended to electric vehicle charging stations.
Despite the delays, Gogoro remains optimistic about the Indian market, considering it ripe for electric vehicle disruption. The company launched its battery-swapping network and three smart scooters in India last December, marking the beginning of its expansion efforts in the region.
The pilot program with Rapido involves around 1,000 Gogoro vehicles, with plans for further expansion depending on the program’s success. Gogoro is also collaborating with five Indian electric two-wheeler OEMs and has begun testing vehicles for deployment using its network solutions in the country.
In addition to its operations in India, Gogoro continues to face challenges in its home market of Taiwan, where the two-wheeler market has softened. The company noted over 6,500 backlog orders for its Pulse and JEGO vehicles, valued at $12.3 million, but acknowledged pricing pressure due to strong sales of its JEGO model.
Featured image courtesy of RMI
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