TAIPEI - Gogoro Inc. (NASDAQ:GGR), known for its battery-swapping technology, has reported significant sales for its newly launched JEGO Smartscooter in Taiwan, indicating a robust market entry. In the first week of sales, JEGO's figures were nearly eight times higher than the company's average weekly sales for its L1 vehicle category in 2024 and more than triple the year-over-year weekly sales from February 2023.
The JEGO Smartscooter, which boasts a fresh design and various core vehicle innovations from Gogoro, has been introduced at an aggressive starting price of $760 after government subsidies. Additionally, Gogoro has rolled out a new promotional battery swapping subscription plan, which is their lowest priced to date, starting at $7 per month for 1,000km of range with a 36-month prepayment.
Gogoro's founder and CEO, Horace Luke, highlighted the scooter's success, noting the strong sales demonstrate the market's interest in JEGO's design, innovation, and value. He also suggested that the JEGO could potentially rebalance the sales ratio between Gogoro's L1 and L3 vehicle categories, as it appeals to a broader market seeking convenient, clean, and sustainable commuting solutions.
Henry Chiang, Gogoro Taiwan's general manager, attributed the early sales momentum to the combination of the Gogoro Network's usability and JEGO's functional design. The company's battery swapping ecosystem is extensive, with over 12,000 stations and 1.3 million smart batteries deployed across Taiwan.
Gogoro's approach to urban mobility has been recognized globally, with accolades from Frost & Sullivan as the "2023 Global Company of the Year for battery swapping for electric two-wheel vehicles" and being listed as one of "15 Climate Tech Companies to Watch" in 2023 by MIT Technology Review.
The company's announcement reflects its ongoing efforts to expand and accelerate the transition to electric two-wheel transportation in Taiwan and potentially on a global scale. The information in this article is based on a press release statement from Gogoro Inc.
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