Company: GGR
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001886190-25-000017
Chunk: 208

Company: Gogoro Inc.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 18
Chunk 208
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�────────────────────────────────────────────────────────────────────────────────────────────────────────
  Taiwan      $                                   298,040      $         328,527      $         360,618  
  Others                                           12,601                 21,319                 22,208  
              $                                   310,641      $         349,846      $         382,826  

b. Major customers

No single customers contributed 10 percent or more to the Company’s revenue for the years ended December 31, 2024, 2023 and 2022.

27. Events after the reporting period

Update on Transaction with Castrol

As previously disclosed in Note 16, on June 24, 2024, Gogoro entered the Subscription Agreement with Castrol. The Subscription Agreement also contemplated that, upon the consummation (the “ Strategic Partnership Closing”) of the transactions contemplated by the definitive agreements mutually agreed between the parties in respect of a contemplated electric two-wheeler joint venture between Gogoro and Castrol (the JV or the “ Strategic Partnership”), Gogoro and Castrol will enter into a convertible note purchase agreement (the “ Note Purchase Agreement”), pursuant to which Gogoro will issue and sell to Castrol, and Castrol will purchase from Gogoro, a convertible note in the principal amount of US$ 25,000,000

On February 17, 2025, Gogoro and Castrol agreed to set up a joint venture company in Vietnam by entering into a joint venture agreement (the “ JV Agreement”) between both parties’ subsidiaries. The JV will operate a business of distribution of certain models of electric two-wheelers and provision of battery swapping services based on Gogoro’s battery swapping technology in Vietnam. Pursuant to the JV Agreement, each of Gogoro and Castrol is required, subject to the conditions set forth in the JV Agreement, to contribute (i) Vietnamese dongs equivalent to US$ 1 4 30

Concurrent with signing of the JV Agreement, Gogoro entered into an amended and restated letter agreement (the “ A& R Letter Agreement”) and an amended and restated registration rights agreement (the “ A& R Registration Rights Agreement”) to amend and restate the Original Letter Agreement and the Original Registration Rights Agreement, respectively.

Among others, the A& R Letter Agreement revised the put option rights provided in the Original Letter Agreement to the following:

•Put option: subject to the terms and conditions set forth