Company: GGR
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001886190-25-000017
Chunk: 75

Company: Gogoro Inc.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 4
Chunk 75
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 to deploy making them ideal for integrating into high-traffic urban areas where riders need them most. In the same space it takes to charge a 4-Wheel electric vehicle, a standard Gogoro battery swapping station can deliver full power in seconds to service hundreds of ePTW vehicle riders per day.

Our business model has consistently achieved near 100% retention of Gogoro Network™ subscription revenue for each annual cohort of ePTWs sold since our pilot launch in Taiwan in 2015.

Our battery swapping network and batteries address four critical barriers that have prevented previous adoption of ePTWs:

1. Eliminating Range Anxiety - We strategically place battery swapping stations in high-demand locations, ensuring riders can easily find and quickly swap batteries.

2. Saving Time - Unlike traditional charging, which takes hours, our battery swapping technology allows riders to refuel in seconds, eliminating the need to leave their vehicles at dedicated charging locations.

3. Prioritizing Safety - Our patented Smart Batteries are designed and engineered to exceed the highest safety standards, ensuring a secure and reliable riding experience.

4. Making Electric Riding Affordable - Gogoro Smartscooters and ePTWs from our OEM partners are priced competitively with traditional ICE PTWs at the time of purchase while offering a lower total cost of ownership over the vehicle’s lifespan.

Gogoro generates two, inter-linked revenue streams:

i. Hardware sales - both Gogoro branded Smartscooters and enabling hardware, which includes sales of vehicle kits to partners who sell their own branded vehicles that are “ Powered by the Gogoro Network™ ” (“ PBGN”), and, in the future sales of Battery Packs and GoStation® to our JV partnerships that will operate battery swapping networks; and

ii. Battery subscription recurring revenues generated from Swap & Go customer subscriptions to the battery swapping network, including those from PBGN vehicles, further expanding our revenue base.

Regardless of whether the vehicle is Gogoro or partner branded, riders must subscribe to the Gogoro Network™ battery swapping service for ongoing access to battery swapping. Our business model has demonstrated a near 100% retention rate for Gogoro Network™ subscription revenue for every annual cohort of ePTWs sold since inception in our pilot market of Taiwan. We believe our subscription revenue model gives a long and predictable revenue stream through Gogoro or PBGN-branded scooters’ life cycle. Our battery swapping subscription model also secures monthly recurring revenues from all the PBGN riders as they also subscribe to the Gogoro Network.

Our battery