Gogoro Global Development has been heavily hit in the 2020, when the covid19 limited the achievement of international development. However, the near 30% drop reported in the first 11 months is mainly correlated to the lost in the domestic Taiwanese market.
McD tracks new vehicles registrations across the World (over 80 countries), reporting data on calendar year. When you wish to compare data reported by us to those declared by the manufacturers, consider they usually report their “sales” (vehicles invoiced), which are usually different from “registrations”, accordingly with their fiscal year split.
Gogoro Global sales in 2020 are declining
While the manufacturer is proceeding slowly (if compared with the Chinese rival Niu) to create an international distribution network, the effect of reduced e-incentives in Taiwan is hitting the 2020 performance.
Indeed, sales boomed in the second half 2019 driven not only by the natural brand expansion, but even by the announcement of January 2020 cut of domestic e-incentives, which allow to Gogoro to jump at near 25% of domestic market share in the Q4 2019.
De facto, part of 2020 sales had been anticipated and the comparison year on year is hard and the 2020 will represent the first step back for Gogoro, while the main competitors, like Yadea and Niu hit new records.
Gogoro Global sales year to date November have been 89.777, down 29.5%. The fall is determined by the domestic sales in Taiwan (-36.5%). However, the international development plans reported a significant slow down in the year, probably correlated with the business slow down related to the pandemic environment.
Gogoro is in talk to create an EV Hub in Indonesia
Gogoro has shown interest to invest in Indonesia to develop its electric scooters and components, and is in talk with the local Minister of Transportation, discussing on the options to open not only a production facilities, from which base the export in the ASEAN region, but even to replicate the Taiwan distribution model, based on the Go-Share (see below) strategy.
Gogoro is available to share the technologic tools to Indonesian companies, recently started up but not yet advanced in the technology integration between the ev-scooter and the mobility apps and device.
Indonesia has urged to develop the EV industry to reduce oil and gas consumption having over 140 million vehicles on the road, with motorbikes accounting for almost 85% of the total.
In the 2019, Indonesia issued a regulation to support the electric vehicle (EV) industry in the country, aiming to become an EV hub for Asia and beyond starting from 2022, introducing incentive schemes reserved to local producers.
Gogoro entering the US on two wheels
The electric bicycle line from Gogoro will be known as Eeyo. It is set to launch in May 2020 in the US, which will be the first market that Eeyo enters. The e-bike won’t be available in Gogoro’s home market of Taiwan until later this summer. At that time, Gogoro will also roll the Eeyo brand into Europe.
At the moment, the company released no information about this model, that should be the first electric bicycle they put in production.
GoShare Project Launched in Taiwan
Following the development of scooter renting system in key European Metropolitan Areas (including Paris, Madrid and Berlin) the always innovative Taiwanese Gogoro, just launched a new concept of sharing, called “GoShare” in the metropolitan area of Taoyuan (Taiwan) testing a new system to be expanded globally.
Go Share is a scheme that includes swappable batteries, a smartphone app, reservations, and facial recognition technology. The swappable battery technology in the Gogoro Smartscooter is designed to allow the user to travel longer distances, as well as reduce downtime for each scooter.
The Gogoro GoShare is deployed in Taoyuan, a special municipality in Taiwan that has been named the 2019 Intelligent Community of the Year by the Intelligent Community Forum. Taoyuan is the fifth-largest city in Taiwan, with over 2 million people and an urban area of 440 square miles.
Gogoro offers a wide range of scooters—the Gogoro 1 Plus, four versions of the Gogoro 2, the Gogoro 3 Plus, and four models in the S Performance category. Gogoro claims that it is over 1200 battery swap stations in Taipei, which have facilitated over 100,000 battery exchanges. So far, Gogoro scooters have collectively been ridden over a half-billion miles.
Gogoro in Taiwan
Gogoro expansion into eastern Taiwan has been long anticipated. Since August 2018, the company has set up retail stores, service centers, and battery-swapping stations (also known as GoStations) in Yilan County and along the east coast of the island. Gogoro intends to deepen its relations with the local consumers so that they will become Smart-scooter owners and part of the public that supports Taiwan’s transition to renewable energies.
In August 2019, Gogoro announced a massive effort to extend the coverage of its battery-swapping infrastructure in Taiwan. The company has set out to build two battery-swapping kiosks every day with the goal of having 1,000 of them across the island at the end of 2018 and in operation before the end of this first quarter. Once this phase of infrastructure expansion is finished, Smartscooter users living in Taiwan’s six principal cities will be able to find a battery-swapping kiosk within a five-minute riding distance. To complete this ambitious task, Gogoro has enlisted local partners that have service points around the island. They include convenience chains (e.g. 7-Eleven and Hi-Life), supermarket chains and big-box stores (e.g. PX Mart, RT-Mart, and A.mart), and the government-run petroleum enterprise CPC.
Apart from building GoStations, Gogoro has also developed GoCharger Mobile, a charging adapter that can be plugged right into the battery system of its scooters. By making both battery swapping and residential charging available to users of its vehicles, Gogoro has contributed greatly to the acceleration and widening of e-scooter adoption. The launch of GoCharger Mobile also makes the entire charging infrastructure – the Gogoro Energy Network – the most inclusive system for powering e-scooters.
As of now, the total number of battery swaps made on the entire Gogoro Energy Network has reached 25 million. The reliability of this system has earned the trust of industry partners, which include Yamaha, Aeon, and PGO. These major vehicle brands have made the Gogoro Energy Network their core technology platform for their new e-scooters that are slated for release in 2019. As the three manufacturers separately develop their e-scooters, they will also continue to incorporate the electronic control system, the smart battery, and the battery-swapping mechanism first created by Gogoro.
B2B partnership with DHL
Gogoro 2 Utility, the startup’s first e-scooter model for commercial applications, was launched in August last year. Around the same time, international logistics enterprise DHL also announced that its operation center in Taiwan will establish a “green logistics fleet” that will be connected to the Gogoro Energy Network. This move is expected to usher in a new era for low-carbon logistics solutions. In addition to having DHL sign up as its first B2B partner, Gogoro will also bid in the latest tender issued by Chunghwa Post. As a natural proponent for the phase-out of traditional fuel vehicles, the startup has set up a special project to create utility scooters that meet the requirements of the local mail delivery system.
Partnership with Yamaha
Yamaha Motor and Gogoro announced in September 2018 a new partnership to jointly develop the electric vehicle (EV) business in the Taiwan market. This collaboration relates to Gogoro’s development and manufacturing of electric scooters for Yamaha and sharing of the battery-swapping system, and signing a formal contract is anticipated this year. Yamaha will design Yamaha-branded electric scooters based on Gogoro production vehicles, with production handled by Gogoro. Sales of new Yamaha electric scooters in the Taiwanese market will be carried out through the sales channels of local subsidiary Yamaha Motor Taiwan.
The first model born from this partnership is the Yamaha EC-05 launched in Taiwan in July 2019 and priced at 99,800 New Taiwan dollars ($3,200), but the subsidy program, launched by the government for EV buyers ahead of a ban on gasoline-powered vehicles in 2035, will enable people to purchase it for less than 70,000 NT dollars.