Taiwan Announces Four Year Extension to Electric Two-wheel Vehicle Subsidy


Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced its support for the Taiwan government’s decision to extend its electric two-wheel vehicle subsidy program for four additional years.

“With the Taiwan government’s continued commitment to the transformation of two-wheel transportation to electric, Gogoro is committed to increasing its investment in new EV and battery swapping technologies and expanding its retail and battery swapping network coverage to provide a path to net zero emissions in Taiwan,” said Horace Luke, founder, and CEO of Gogoro. “With more locations in Taiwan cities than gas stations, and adoption from leading vehicle partners like Yamaha, Suzuki Taiwan, A-Motor and others, Gogoro’s open battery swapping ecosystem has demonstrated its interoperability and ease of use for riders providing a clear path for the transformation from gas to electric in Taiwan.”

The subsidy extension was announced by the Minister of Economic Affairs, Mei Hua Wang, and follows the announcement on December 9th that the government had approved a new phase of its “Electric Scooter Industry Environmental Value-Added Subsidy Program”, which will invest $191.5 million in funds from 2023 to 2026 to promote three major projects:

  • Continuation of subsidies for the purchase of electric scooters
  • Installation of battery charging and swapping facilities
  • Transformation of traditional scooter shops
Gogoro Network Battery Swapping

With more locations than gas stations in Taiwan’s cities, the Gogoro Network is a new generation of swappable battery refueling that is smart, safe and continually optimizing itself to be dynamic and versatile for riders, business, and communities. The Gogoro Network supports more than 520,000 riders, has more than 1.1 million smart batteries in circulation through its network of 11,000 battery swapping GoStations at over 2,260 locations. With more than 370,000 daily battery swaps and more than 360 million total battery swaps to date, Gogoro Network battery swapping has saved more than 250,000 tons of CO2 since it launched.

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