Gogoro, a Taiwan-based electric scooter maker that is known for its battery-swapping technology, has teamed with Gojek to tap Indonesia’s burgeoning two-wheeled transportation market.
The partnership typifies the rapid shift to vehicular electrification in Indonesia, which aims to cut greenhouse gas emissions by 29% before 2030 and sell only electric vehicles by 2050. President Joko Widodo has rolled out an array of incentives for the EV industry since 2019, including an EV tax scheme for manufacturers, transport companies, and consumers.
Gogoro and Gojek will operate a pilot fleet of 250 smart scooters and four battery-swapping stations that will be located at Pertamina gas stations in Jakarta. The two companies will scale up the pilot to 5,000 scooters and more battery swap stations in the future, although they did not share a concrete timeline.
“One of the greatest challenges of our time, in Indonesia and around the world, is transforming our urban transportation into a new generation of smart and sustainable electric two-wheel transportation that is accessible and people can embrace,” said Horace Luke, founder and CEO of Gogoro, in a press release.
Gogoro announced in September that it will go public on the Nasdaq by merging with Poema Global Holdings Corp, a special purpose acquisition company. The deal will put the electric mobility startup’s valuation at USD 2.35 billion.
Simultaneously, Gogoro announced its oversubscribed private investment in public equity (PIPE) worth over USD 250 billion in September, counting GoTo Group, Hon Hai (Foxconn) Technology Group, Taiwan’s National Development Fund, and Temasek as investors.
With the PIPE and USD 345 million held in trust by Poema Global, Gogoro expects to provide around USD 550 million in proceeds to the balance sheet.