Gogoro announced today the increase in consumer sales of its three electric scooters in the Singapore market, marking a significant increase from the company's commercial fleet-based market entry.
Known for its battery exchange network that powers its electric motorcycles as well as those produced by other major motorcycle manufacturers such as Yamaha and Aeon, Gogoro has become the standard for two-wheeler EV battery exchange.
The company has expanded its battery replacement network to several countries in Asia, often starting with commercial operations. Last year, Gogoro partnered with Food Panda to outfit delivery riders with motorbikes and Gogoro batteries in Singapore.
Cycle & Carriage Singapore (C&C) has served as an importer and distributor, and is now expanding operations to include consumer sales of three electric motorcycles. These models include Gogoro VivaMix, Gogoro Premium, and Gogoro SuperSport.
“Together with Cycle & Carriage, we are introducing a new generation of two-wheeled urban transport and refueling to Singapore. “Gogoro battery replacement provides a fast, easy and safe charging experience that does not require parking or charging time,” said Henry Chiang, CEO of Gogoro. “Singapore has taken a proactive approach to accelerating EV adoption and the Singapore LTA's TR25 electric vehicle charging standard has established a strong set of requirements for Southeast Asia to adopt.”
“Gogoro is Cycle & Carriage's first foray into the electric two-wheeler business here in Singapore and highlights our commitment to supporting the Singapore Green Plan 2030,” said Wilfrid Foo, Managing Director of Cycle & Carriage Singapore. “Although the battery replacement technology is new here, we believe the products and our partnership with Gogoro will accelerate growth.”
Gogoro's range of battery replacements has proven popular in the domestic market of Taiwan, where more than 1.4 million batteries are in use. The company has hundreds of millions of battery replacements with hundreds of thousands occurring every day. Battery swap stations outnumber petrol stations on the island and passengers are rarely more than a few hundred meters from the nearest battery swap shop.
The company's operations are small in some of the countries it has expanded to, but it represents an important launching point in various regions as Gogoro hopes to replicate its local success globally.
Electrek's Take
The expansion of consumer sales of Gogoro scooters in Singapore is very interesting to me for two reasons. First of all, EVs only make up about 1 percent of Singapore's two-wheeler market, which means there's plenty of room to replace combustion-powered vehicles.
Second, and perhaps more importantly, Singapore's two-wheeler market is a much smaller part of the total automotive world than many of the countries Gogoro has entered. In comparison, Gogoro's other target markets, such as Taiwan, India, and Indonesia, all have more two-wheelers than cars. But compared to the many motorcycle countries Gogoro has entered, motorcycles and scooters make up about 15% of Singapore's transportation market, which means Gogoro is operating in areas with very small two-wheelers. That's probably good news for Gogoro's fans from other countries who are hoping that one day the battery-swapping hero comes to their shores in person. Yes, Singapore's size and geography may have played a unique role in its selection as Gogoro's expansion location, but I still see it as a promising sign for Gogoro's wider rollout.
At the same time, however, there is also the issue of current financial problems at Gogoro, evidenced by multiple consecutive quarters of net operating losses in the billions of dollars. But if Gogoro is to change things, success in the world can have a big impact. Thousands of changing stations across Taiwan are proof of the program's operational success, and now the company needs to demonstrate that it can be a global financial success.
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