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Gogoro, TSMC and Taichung City Taiwan Partner to Bring Sustainable Electric Two-wheel Sharing to City's Residents

Aug 30, 2022

 A unique partnership of global leaders, Gogoro, TSMC and Taichung City share a joint vision to accelerate the smart city transformation and enable a future of clean energy and transportation.

TAICHUNG, Taiwan, Aug. 30, 2022 /PRNewswire/ -- Gogoro® Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it is partnering with Taiwan Semiconductor (TSMC) and Taichung City Taiwan to launch GoShare, Gogoro's electric mobility sharing service for the residents of Taichung City, Taiwan's second most populated.

TSMC, Gogoro and Taichung are introducing a new era of sustainable transportation to Taichung Taiwan's 3m residents.

"Sustainable energy and transportation are the future, especially in densely populated cities. It is a natural step for Gogoro and a global leader like TSMC and a visionary city like Taichung to come together to provide residents with Gogoro's two-wheel electric sharing service, GoShare," said Horace Luke, founder, chairman, and chief executive officer of Gogoro. "Together, TSMC, Taichung City and Gogoro are bringing a new era of sustainable urban transportation to Taichung's nearly 3 million residents, including subsidized access to more than 50,000 university students and more than 60,000 TSMC employees. This sets a new standard for cities across Taiwan and Asia who want to encourage sustainable transportation." 

"This partnership with Taichung City and Gogoro is in line with our commitment to a sustainable future. Such an ambition can only be achieved if multiple stakeholders work together, so today marks another major milestone in our journey as we combine TSMC's wide reach in Taiwan, Taichung's commitment to sustainability, with the leadership of Gogoro in electric mobility to accelerate change and share the benefits of electric vehicles with more consumers," said Lora Ho, Senior Vice President and ESG Committee Chairperson at TSMC. 

As the world's largest semiconductor maker, TSMC has accomplished a variety of sustainability initiatives to reduce the carbon footprint and achieve net zero emissions by 2050.

The new partnership includes three key initiatives: 

  • Gogoro GoShare Smartscooters will be available 24/7 to Taichung City's residents.  
  • GoShare will provide exclusive riding coupons to 50,000 freshmen in 17 universities in Taichung City.
  • GoShare will expand its coverage to neighboring cities and connect multiple railway stations, playing a key role in shaping a robust urban transportation network.

In addition, TSMC joins the GoShare for Business platform to encourage employees to ride electric scooters for daily commutes. More than 60,000 TSMC employees will enjoy exclusive discounts for every GoShare ride.

"From battery swapping infrastructure to electric vehicle subsidies, Taichung City has been on the forefront of rolling out sustainable mobility solutions. Gogoro's leading innovations to deliver electric mobility and TSMC's focus on sustainability make them the perfect fit for Taichung. Together, we will create a new paradigm for cities to operate in smarter, cleaner and more sustainable ways," said Shiow-Yen Lu, Mayor of Taichung. 

Taichung City is not only Taiwan's second most populated city, but it has also received international acclaim for its livable urban environment. In April 2022, the city pledged to achieve net zero emissions by 2050.

Since 2019, GoShare has 1.6 million registered users in seven cities, and has hosted 20 million rides that have saved 7 million kg of CO2 emissions, making it the most popular and impactful electric mobility sharing service in Taiwan. 

ABOUT GOGORO

Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed. Gogoro's battery swapping and vehicle platforms offer a smart, proven and sustainable long-term ecosystem for delivering a new approach to urban mobility. Gogoro has quickly become an innovation leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery availability and safety. The challenge is massive, but the opportunity to disrupt the status quo, establish new standards, and achieve new levels of sustainable transportation growth in densely populated cities is even greater. For more information, visit www.gogoro.com/news and follow Gogoro on Twitter: @wearegogoro.

Forward Looking Statements

This communication contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statements generally relate to future events or Gogoro's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Gogoro's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this communication include, but are not limited to, the potential of the partnership between Gogoro, TSMC and the City of Taichung Taiwan including the ability of such partnership to achieve its goals, projections of market opportunity and market share, potential growth of Gogoro's battery swapping ecosystem in Taiwan including Taichung, the capability of Gogoro's technology, Gogoro's business plans, and statements by Gogoro's founder, chairman and chief executive officer. Gogoro's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the impact of the COVID-19 pandemic, risks related to macroeconomic factors including inflation and consumer confidence, risks related to political tensions, Gogoro's ability to effectively manage its growth, Gogoro's ability to launch and ramp up the production of its products and control its manufacturing costs and manage its supply chain issues, Gogoro's risks related to ability to expand its sales and marketing abilities, Gogoro's ability to expand effectively into new markets, foreign exchange fluctuations, Gogoro's ability to develop and maintain relationships with its partners, risks related to operating in the PRC, regulatory risks and Gogoro's risks related to strategic collaborations, risks related to the China market and other international markets, alliances or joint ventures including Gogoro's ability to enter into and execute its plans related to strategic collaborations, alliances or joint ventures in order for such strategic collaborations, alliances or joint ventures to be successful and generate revenue, Gogoro's ability to raise additional capital, the risks related to the need for Gogoro to invest more capital in strategic collaborations, alliances or joint ventures, and the risk of Gogoro having to update the accounting treatment for its joint ventures. The forward looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described in Gogoro's filings with the Securities and Exchange Commission ("SEC"), including in Gogoro's Form 20-F for the year ended December 31, 2021, which was filed on May 2, 2022 and in its subsequent filings with the SEC, copies of which are available on our website and on the SEC's website at www.sec.gov. The forward looking statements in this communication are based on information available to Gogoro as of the date hereof, and Gogoro disclaims any obligation to update any forward looking statements, except as required by law.

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SOURCE Gogoro

Jason Gordon, Gogoro, +1 206-778-7245, jason.gordon@gogoro.com; Asia Pacific Media Contact: Brad Burgess, ICR, LLC., +1 646-328-0687, gogoroPR@icrinc.com