Hero MotoCorp to form battery swapping joint venture with Taiwan’s Gogoro
Hero MotoCorp has entered into a partnership with Taiwanese battery swapping platform provider Gogoro with an aim to fast tracking the transition to sustainable electric mobility in India.
The Indian motorcycles and scooters manufacturer will create a battery swapping joint venture to bring the battery swapping platform of Gogoro to India. Hero MotoCorp will be a majority partner in the joint venture.
The partners will collaborate on the development of electric vehicles for bringing Hero-branded, powered by Gogoro Network vehicles to market.
Dr. Pawan Munjal – Chairman and CEO of Hero MotoCorp said: “Our strategic partnership with Gogoro is in line with our Vision – ‘Be the Future of Mobility’ which we are bringing alive through our Mission to ‘Create, Collaborate & Inspire’.
“Today marks another major milestone in our journey, as we bring Hero’s leadership in two-wheelers, our Global scale and innovation powerhouse, with the leadership of Gogoro in Swapping business model, as they have demonstrated over the years in Taiwan and rest of the world.”
Hero MotoCorp to form battery swapping joint venture with Taiwan’s Gogoro. Image courtesy of Gogoro Inc.
The Gogoro Network is said to be an open platform for battery swapping and smart mobility services. It is claimed to provide an alternative to legacy fuel.
It is said to combine the power of connectivity, artificial intelligence, and also machine learning for creating a new generation of swappable battery refueling.
Horace Luke – Founder and CEO of Gogoro said: “We are at a critical stage in the transformation of urban mobility and the evolution of smart cities. With more than 225 million gas-powered two wheel vehicles in India, the need for smart and sustainable electric transportation and refueling is vital.
“The Hero-Gogoro partnership addresses these challenges and will leverage Hero’s market strength and Gogoro’s industry leading innovations to deliver smart vehicles and refueling with Gogoro Network battery swapping.”
Recently, Hero MotoCorp revealed selling 576,957 motorcycles and scooters in March 2021, an increase of 72% compared to March 2020.