Taiwan’s Gogoro looking to partner with Maharashtra on NT$46.7 billion deal

台灣Gogoro期待與馬哈拉施特拉邦合作，達成價值467億新台幣的交易

Eight-year investment plan includes NT$15.57 billion for manufacturing, NT$31.12 billion for battery swap infrastructure deployment in India

TAIPEI (Taiwan News) — Gogoro said on June 29 that the Indian state of Maharashtra had offered to enter into an agreement to make vehicles, smart battery packs, and battery swap stations, and to deploy a battery swapping infrastructure through the state starting in late 2023.

The proposed deal was announced at a Maharashtra government press conference by Chief Minister Eknath Shinde. The project offer outlines an eight-year Phase 1 investment plan that includes more than US$500 million (NT$15.57 billion) for manufacturing and US$1 billion for smart battery infrastructure deployment by Gogoro supported by financial incentives and reimbursements by Maharashtra.

The offer letter follows an MOU between Gogoro and Maharashtra announced at Davos in January. Gogoro’s request for financial incentives was approved and endorsed by the Maharashtra state cabinet and the two parties expect to complete the deal soon.

The deal will see Gogoro build out its swappable battery infrastructure throughout the state. The project is also expected to accelerate job growth throughout the smart energy, electric vehicle, and sustainability value chain.

Battery swapping infrastructure is expected to start deployment across Maharashtra later this year and will leverage Gogoro’s energy ecosystem, including smart battery stations, swapping technologies, and network management solutions.

The project is expected to generate around 10,000 direct and indirect jobs, according to Chief Minister Shinde.

Meanwhile, Gogoro CEO and founder Horace Luke (陸學森) said, “It is essential that we transform industries and infrastructure to successfully enter a new era of clean, connected mobility. We are excited to be partnering with the Maharashtra government in its vision to transform urban transportation and provide a better path forward for its residents and businesses.”