Gogoro(GGR)2024-08-15 18:12Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was 20.1 million, an increase 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 46.3 million, down 14.1% year-over-year [36] - The backlog orders for Pulse and JEGO received in Q2 were valued at approximately 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 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 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]