Company: GGR
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001886190-25-000017
Chunk: 83

Company: Gogoro Inc.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 4
Chunk 83
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 helping fast-track further production system refinements. With every step carefully orchestrated by our MES system, our teams can easily shift from one station to the next and one process to another, across different vehicle types, ensuring maximum flexibility and consistent execution of our full portfolio of ePTWs and enabling kits.

Smart City and Second Life Batteries

Our batteries are optimized for vehicles, but designed to be utilized in a variety of second life applications that can further extend the revenue-generating potential of each battery pack. In 2023, we deployed Enel X’s Virtual Power Plant (“ VPP”) capability at more than 1,000 of our GoStation locations across Taiwan. VPP is one of the means of improving urban sustainable energy distribution for smart cities by enabling the Gogoro Battery Swapping Network to pause usage of the grid or even return energy to the grid. This is the first deployment globally of this technology using a distributed portable battery network. We are developing a variety of second life battery uses. In 2023, we deployed approximately 1,000 smart parking meters in Taiwan and deployed smart traffic signal back-up services at 200 of Taipei's busiest intersections. These smart city and second life implementations are exciting areas of development, and we continue to identify new potential revenue drivers for our second life battery services. For example, during a major earthquake in Taiwan in April 2024, the Gogoro battery swapping network, as part of Enel X’s Virtual Power Plant, successfully provided energy grid stabilization when the grid started to become unstable.

Seasonality

As a seller of ePTWs, we are impacted seasonally, primarily by weather. During winter or colder months, sales of vehicles tend to slow while during warmer months, sales increase. This phenomenon is further compounded by the number of events that are hosted during warmer months - summer holiday sales, back to school sales, etc. Historically, in our pilot market of Taiwan, seasonality has resulted in a scenario where approximately 40%-45% of our vehicle unit sales and revenues are derived from the first half of each year (January through March being colder months) versus 55%-60% of our unit sales and revenues coming in the second half of the year.

Source of Revenue and International Expansion

We are the leading ePTW brand in Taiwan. In addition to selling electric vehicles and ePTW technology, we also build, operate, and manage a footprint of over 2.6 thousand GoStation® locations across Taiwan.

Our competition includes other PTW vehicle manufacturers of