Core Viewpoint - Gogoro Inc. is under investigation for allegedly incorporating imported components into its electric scooters, violating Taiwan's domestic production requirements for subsidy eligibility [2] Investigation Details - Gogoro filed a Form 6-K with the SEC on September 13, 2024, revealing internal investigations into allegations of using imported components in violation of Taiwan's regulations [2] - The company identified irregularities in its supply chain that led to the inadvertent incorporation of these components and has reported these issues to local authorities while cooperating with ongoing investigations [2] - Following the announcement, Gogoro's stock experienced a decline of 5.2% on September 13, 2024, and an additional 11% on September 16, 2024 [2] Leadership Changes - In response to the investigation, CEO Horace Luke resigned from his positions as CEO, Chairman of the Board, and Director effective September 13, 2024, to demonstrate the company's commitment to cooperating with authorities [2]

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Gogoro Inc. ("Gogoro" or the "Company") (NASDAQ: GGR). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Gogoro and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On September 13, 2024, Gogoro an ...

Companies introduce new Pulse, JEGO and CrossOver GX250 Smartscooters at NADA Auto Show in Kathmandu and plan to deploy more battery swapping stations than petrol stations in Nepal.KATHMANDU, Nepal, Aug. 27, 2024 /PRNewswire/ -- Nebula Energy and Gogoro Inc (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced commercial availability of Gogoro's battery swapping and Smartscooters in the Kathmandu Valley slated for Octo ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $80.9 million, down 7.2% year-over-year and down 2.4% year-over-year on a constant currency basis [35] - Gross margin was 5.2%, down from 15.2% in the same quarter last year, while non-IFRS gross margin was 13.0%, down from 16% [39] - Net loss for Q2 was $20.1 million, an increase of $14.5 million from a net loss of $5.6 million in the same quarter last year [41] Business Line Data and Key Metrics Changes - Battery swapping service revenue for Q2 was $34.7 million, up 4% year-over-year and up 9.5% year-over-year on a constant currency basis [36] - Sales of hardware and other revenues for Q2 were $46.3 million, down 14.1% year-over-year [36] - The backlog orders for Pulse and JEGO received in Q2 were valued at approximately $12.3 million [35] Market Data and Key Metrics Changes - The total number of registered electric scooters in Taiwan for Q2 was 23,660 units, up 17.6% from 20,118 units in Q2 2023 [15] - Gogoro branded vehicles registration figures were 15,646 units, up 10.8% from Q2 2023 [15] - The overall two-wheeler market in Taiwan is projected to shrink by 14% from last year's 870,000 units to around 750,000 units in 2024 [38] Company Strategy and Development Direction - Gogoro announced two substantial investments totaling $100 million to facilitate asset-light international expansion [6][7] - The company aims to maintain resources and flexibility to operate efficiently while delivering innovation and value to customers [7] - International markets, particularly India, are seen as crucial for long-term strategy, with ongoing efforts to establish partnerships and infrastructure [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the overall two-wheeler market in Taiwan is softer than anticipated, impacting sales figures [44] - The company expects to generate between $320 million to $345 million of revenue in 2024, with more than 95% of such revenue being Taiwan-based [44] - Management remains optimistic about the Indian market's potential but is awaiting finalization of government incentives for battery swapping vehicles [22][24] Other Important Information - Gogoro has 103 retail stores in Taiwan, 242 Gogoro quick service stores, and 421 authorized repair shops [19] - The company has over 608,000 accumulated subscribers, up from 552,205 subscribers at the end of Q2 2023 [19] - The company raised $50 million and $25 million through issuing ordinary shares to Gold Sino Assets Limited and Castrol Holdings International Limited [43] Q&A Session Summary Question: What is your plan to capture additional market share and volume in the second half of 2024 in Taiwan? What about international markets? - The company plans to deliver all backlog vehicles by the end of the year and expects continued momentum for Pulse and JEGO vehicles [46] Question: Can you give an update on Taiwan market outlook in the second half and the progress and expectations for the Indian market? - The company expects the finalization of the FAME III subsidy policy in India within weeks or months, which will allow for the ramp-up of vehicle sales [57] Question: How should we think about the commercial opportunity in Singapore in the next few years? - The company views Singapore as a leadership country in the region and aims to demonstrate its capabilities in urban mobility [61][62] Question: Can you talk about the margin trend in the second half? - The company expects to hold the margin flat or potentially increase it slightly in the second half due to seasonal upticks in sales [66] Question: If the Indian government doesn't subsidize battery swapping this year, would Gogoro change business strategy? - The company believes in the importance of battery swapping and will adjust its strategy based on market conditions while maintaining its core business model [70] Question: Can you comment on the status of the battery pack factory and vehicle manufacturing capabilities in India? - The company is preparing for the Indian market and is readying its battery pack factory, awaiting the finalization of subsidy programs [73]

Exhibit 99.1 Gogoro Releases Second Quarter 2024 Financial Results TAIPEI, TAIWAN, AUGUST 15, 2024 – Gogoro Inc. ("Gogoro," "the Company" or "We") (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today released its financial results for its second quarter ended June 30, 2024. Second Quarter 2024 Summary ▪ Successfully closed two private placements: Gold Sino Assets Limited and Castrol Holdings International Limited invested $50 m ...

Financial Performance - Gogoro reported total revenue of $80.9 million for Q2 2024, a decrease of 7.2% year-over-year and 2.4% on a constant currency basis [4][11] - Battery swapping service revenue increased to $34.7 million, up 4.0% year-over-year and 9.5% on a constant currency basis [5][6] - Hardware and other sales revenue was $46.3 million, down 14.1% year-over-year and 9.8% on a constant currency basis [6][11] Backlog and Demand - The company has over 6,500 backlog orders for its new Pulse and JEGO Smartscooters, with an estimated revenue of $12.3 million expected to be recognized in Q3 2024 upon delivery [2][4] - The backlog orders are attributed to strong demand for the new models, despite challenges in balancing manufacturing capacity [4][7] Profitability Metrics - Gross margin for Q2 2024 was 5.2%, down from 15.2% in the same quarter last year, while non-IFRS gross margin was 13.0%, down from 16.0% [9][11] - The net loss for Q2 2024 was $20.1 million, an increase from a net loss of $5.6 million in the same quarter last year [11][12] - Adjusted EBITDA for the quarter was $11.6 million, down from $12.9 million year-over-year [12] Investment and Funding - Gogoro secured $75 million in equity investments from Gold Sino Assets Limited and Castrol Holdings International Limited [3][13] - The company ended Q2 2024 with a cash balance of $196.9 million, which is expected to support operational needs and global expansion efforts [14] Market Outlook - The overall two-wheeler market in Taiwan is projected to shrink by 14% in 2024, impacting Gogoro's sales expectations [8][15] - Gogoro adjusted its full-year revenue guidance to between $320 million and $345 million, with over 95% expected to be generated from Taiwan [15]

Core Insights - Gogoro Inc. will release its financial results for Q2 2024 on August 15, 2024, before market opening [1] - A Q&A webcast will be held at 8:00 a.m. Eastern Time on the same day to discuss financial and business results [1] Company Overview - Founded in 2011, Gogoro aims to innovate urban energy distribution and promote sustainable urban mobility [2] - Recognized as "Asia-Pacific's Most Innovative Company of 2024" by Fast Company and "2023 Global Company of the Year for battery swapping for electric two-wheel vehicles" by Frost & Sullivan [2] - Gogoro's platforms focus on battery swapping, vehicle design, and AI-driven cloud services for battery management, positioning the company as a leader in sustainable transportation solutions [2]

Core Insights - Gogoro Inc. has received certification to launch its battery swapping and Smartscooters in Singapore, with plans to commence commercial operations in Q4 2024 in partnership with Cycle & Carriage [1][2] - Cycle & Carriage has partnered with Shell Recharge to establish battery swapping GoStations at Shell service stations across Singapore, with the first station expected to be operational by August 2024 [4] Group 1: Partnership and Launch Plans - Gogoro's partnership with Cycle & Carriage aims to accelerate the adoption of battery swapping technology and electric two-wheel vehicles in Singapore, following a successful pilot program [2][3] - The pilot program, which includes collaboration with foodpanda, has shown positive results, with riders reporting high satisfaction and efficient battery swapping processes [3][2] Group 2: Product Offerings - Cycle & Carriage will offer three models of Gogoro Smartscooters by Q4 2024: Gogoro SuperSport, Gogoro Premium, and Gogoro Viva Mix, catering to different market segments [5] - The Smartscooters are designed to provide a sustainable and efficient transportation solution, with features that enhance user experience [5] Group 3: Battery Swapping Ecosystem - Gogoro's battery swapping network is designed to be smart and safe, with a significant presence in Taiwan, supporting over 600,000 riders and facilitating more than 400,000 daily battery swaps [6][7] - The network has contributed to substantial CO2 emissions reductions, with over 1 million tons avoided through its operations [7]

BP plc’s (BP) subsidiary, Castrol, a global leader in lubricant technology, announced a significant investment of up to $50 million in Gogoro Inc., a global technology leader in battery-swapping ecosystems for smart mobility solutions in urban areas. The investment marks a strategic move for Castrol as it seeks to diversify beyond its traditional lubricants and fluids business.In the first tranche of the investment, Castrol Holdings, an affiliate of Castrol, will invest US$25 million in ordinary shares of G ...

LONDON and TAIPEI, June 25, 2024 /PRNewswire/ -- Castrol, a global leader in lubricants and part of the bp group, today announced an investment of up to US$50 million in Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable smart mobility solutions for cities.In the first tranche of the investment, Castrol Holdings, an affiliate of Castrol, will invest US$25 million in ordinary shares of Gogoro. This investment is expected to be followed by a second US$25 million i ...