Gogoro partners with Rapido for bike-taxi pilot

Taiwanese electric two-wheeler manufacturer Gogoro has postponed its ambitious plans for the Indian market due to the Indian government's delay in launching a crucial battery swapping incentive scheme. Co-founder and CEO Horace Luke revealed during the company's Q2 earnings call that the firm is awaiting the finalization of these incentives before it can increase vehicle sales and battery production in India. Originally, Gogoro had anticipated generating revenue from the Indian market in 2024, but this projection has now shifted to 2025. Despite the setback, Gogoro remains optimistic about the Indian market, which it views as ripe for electric vehicle disruption. Luke noted that the company is still investing in growth, even while operating at a loss, as it targets India, Southeast Asia, and other regions. The Indian government had previously introduced the FAME 2 scheme in 2019, allocating $1.19 billion to subsidize electric vehicle purchases, but the anticipated battery swapping vehicles have yet to be included in these incentives. In the interim, Gogoro has initiated a bike-taxi pilot program in collaboration with ride-hailing aggregator Rapido, currently active in New Delhi. The pilot aims to test Gogoro's vehicles before their commercial launch, with plans to deploy around 1,000 units based on the pilot's success. Additionally, Gogoro has been actively collaborating with five local electric two-wheeler manufacturers in India and has a backlog of over 6,500 orders for its Pulse and JEGO vehicles, valued at $12.3 million.