Taiwanese electric scooter manufacturer Gogoro has announced a significant investment of $50 million from Gold Sino Assets Limited, marking a strategic move to bolster its expansion efforts. The investment comes as Gogoro continues to make strides in the electric vehicle market, with shares closing at $1.46 on Friday, resulting in a market capitalization of $358.87 million.
Under the terms of the agreement, Gogoro will issue 32,516,095 ordinary shares to Gold Sino, valued at approximately $1.5377 per share. Additionally, Gold Sino will receive a warrant to purchase 10,838,698 ordinary shares of Gogoro at an exercise price of $1.6915 per share. The transactions are expected to close in the coming days, according to the company.
This investment will significantly accelerate Gogoro’s expansion plans in Taiwan and international markets. The company has already begun producing electric scooter bikes in India and aims to have 120 battery swap stations operational by mid-year.
In late May, Gogoro’s battery swapping service was launched in Bogota, Colombia, through a partnership with Colombian firm Terpel under the Terpel Voltex brand. Terpel plans to expand the service to 14 GoStations by the end of the year and subsequently to other Colombian cities.
Gogoro has also made strides in other markets. In Korea, the company launched its smart scooter service in partnership with Bikebank, a provider of maintenance and services for electric two-wheelers. Additionally, consumer sales of Gogoro’s e-scooters began in the Philippines in December 2023, in collaboration with local conglomerate Ayala Corporation and 917Ventures.
