Gogoro, known as the de facto swappable electric vehicle battery standard as well as the manufacturer of leading high speed electric scooters, has just announced a finalized date for its public entry to the Nasdaq stock exchange.
Thanks to a SPAC merger with Poema Global Holdings Corp (PPGH), Gogoro will officially hit the Nasdaq on April 5, 2022, under the ticker GGR.
Electrek originally broke the news of the first announcement of the impending SPAC merger with Poema last September.
Now Gogoro has confirmed to Electrek that the finalization of the merger was approved at an Extraordinary General Meeting of Poema Global today, and is expected to officially close on April 4, 2022.
According to the two companies, the combined enterprise will retain the Gogoro name and its shares and warrants are expected to begin trading on the Nasdaq Global Select Market under the symbols “GGR” and “GGROW,” respectively, on April 5, 2022.
As Founder and CEO of Gogoro Horace Luke explained:
“This is a proud moment for the Gogoro team, our customers, and partners, and an important landmark for sustainable urban mobility. I personally want to thank Dr. Samuel Yin for his support from day one and his shared vision for a better, more sustainable world. We expect Gogoro to continue transforming urban mobility in the world’s most densely populated cities by changing how people use and share portable energy.
Gogoro is committed to accelerating the growth and adoption of electric two-wheel vehicles, and we are taking a proactive approach to supporting the development of an open mobility ecosystem that establishes a foundation for electric urban refueling. We look forward to embarking on the next chapter of our journey as a publicly traded company and taking our proven technologies and offerings to the world’s largest two-wheel markets.”
Gogoro has made headlines left and right this year with a slew of product developments and expansion news.
Recently coming off of news of the company’s millionth swappable battery rolling across its production line, Gogoro also unveiled the world’s first solid-state swappable electric vehicle battery last month.
While there are many different swappable electric vehicle platforms, Gogoro’s is widely considered to be the de facto standard due to its early entry into market, broad adoption by third-party OEMs, and ease of use of the company’s swapping system.
The iconic green batteries carry approximately 1.7 kWh each and are widely used by dozens of unique electric motorbikes and scooters.
Gogoro’s network of GoStations make it easy for riders to roll up and swap out a depleted battery for a freshly charged one in seconds, removing the hassle and wait time of convention EV charging. The GoStations and their stored batteries can even be used to provide backup power to local neighborhoods during emergency outages, and also continue powering themselves so that riders can swap batteries for several days during large power outages.
Gogoro also provides its batteries and drivetrains to partner companies like Yamaha, who build their own EVs around the Gogoro platform to leapfrog the development time for new electric vehicles. Multiple batteries are used in larger vehicles to provide more battery capacity and power.
In Gogoro’s domestic market of Taiwan, around 97% of all electric scooters on the road are powered by Gogoro’s technology.
The company has recently expanded into the largest motorcycle markets in the world, including China, India and Indonesia, in a push to see its popular technology spread even further.
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Author: Micah Toll
Source: Electrek
