Gogoro, Belrise to Build $2.5 Billion Battery-Swapping Network in India
- Companies to install up to 15,000 battery-changing stations
- Deal to spur EV infrastructure in Indian state of Maharashtra
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Gogoro Inc. signed a deal with Belrise Industries Ltd. to build battery-swapping stations for two-wheelers across western India’s Maharashtra state, where the Taiwanese firm and its local partner will invest $2.5 billion over the next eight years to spur adoption of electric vehicles.
The two companies have a non-binding memorandum of understanding for a 50:50 partnership to boost energy infrastructure across the Indian state, according to a statement Tuesday from Nasdaq-listed Gogoro, which is based in Taipei City.