Gogoro Unveils World’s First Swappable Solid State Battery Prototype for Electric Vehicles

March 8, 2022

Gogoro’s New Battery Prototype was Jointly Developed with ProLogium Technology, a Leader in Solid-state Lithium Ceramic Batteries

Gogoro’s Battery Prototype Integrates with Gogoro’s Existing Vehicles and Battery Swapping Network

Taipei, Taiwan, March 8, 2022 – Gogoro® Inc., a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced the world’s first solid-state lithium ceramic battery prototype for two-wheel battery swapping. Jointly developed by Gogoro and ProLogium Technology, a global leader in solid-state battery technology, the new Gogoro solid-state battery prototype integrates with Gogoro’s existing vehicles and swapping network.

“Gogoro is unveiling the world’s first solid-state battery for two-wheel battery swapping because it’s imperative we take advantage of the latest battery innovations to introduce a new era of electric transportation growth and adoption in our cities,” said Horace Luke, founder, chairman, and chief executive officer of Gogoro. “We partnered with ProLogium Technology, a global leader in solid-state battery innovation, to jointly develop this new battery that delivers higher energy density for better range, improved stability and safety, and is reverse compatible with all existing Gogoro-powered vehicles.”

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As a next generation of battery chemistry, solid-state lithium ceramic batteries are expected to replace traditional lithium-ion batteries and become the mainstream power source for electric vehicles and consumer electronics. Solid-state batteries provide higher energy density and deliver greater range for electric vehicles. Gogoro estimates that its solid-state batteries will increase capacity of current lithium batteries by 140% or greater, from 1.7 kWh to 2.5 kWh.

“As leading global battery innovators, Gogoro and ProLogium have partnered to jointly design solid-state battery prototypes that integrate with Gogoro’s battery swapping network and two-wheel vehicles,” said Vincent Yang, founder and CEO of ProLogium Technology. “Solid-state battery technologies present a new phase in the future of electric vehicles, and we look forward to advancing this Gogoro prototype battery into a commercial offering in the future.”

GOGORO NETWORK

At the heart of Gogoro’s ecosystem is the Gogoro Network, an open and interoperable battery swapping platform that was recognized in 2021 by Guidehouse Insights as the leading battery swapping company for lightweight urban vehicles in the world. Gogoro Network is a new generation of swappable battery refueling that is smart, scalable, and continually optimizing itself to be dynamic and versatile for people, communities, and businesses. With more than 450,000 riders and over 10,000 battery swapping GoStations at over 2,300 locations, Gogoro Network is hosting 340,000 daily battery swaps with more than 260 million total battery swaps to date. Gogoro Battery Swapping has become the de facto battery swapping standard for two-wheel vehicles in Taiwan, powering 95% of all electric two-wheelers.

ABOUT PROLOGIUM TECHNOLOGY

Founded in 2006, ProLogium Technology is an energy innovation company focused on solid-state battery research, development, and manufacturing, that provides next-generation battery solutions for electric vehicles in consumer markets and industrial applications. Through years of proven core technologies, ProLogium fulfills requirements for batteries including extreme safety, high energy density and low cost. With its automated pilot production line, ProLogium has provided nearly 8,000 solid-state battery sample cells to global car manufacturers for testing and module development. ProLogium Technology is currently the world's only solid-state battery manufacturer that has reached mass production and continues to inspire global battery innovation towards a fully electric, sustainable future. For more information please visit www.prologium.com.

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.

Gogoro Media Contacts:

Jason Gordon, Gogoro

+1 206-778-7245

jason.gordon@gogoro.com

Tony Ho Loke, Weber Shandwick

+1 917-544-0168

tloke@webershadwick.com

Asia Pacific

Brad Burgess, ICR, LLC.

+1 646-328-0687

gogoroPR@icrinc.com

ProLogium Media Contacts:

Stan Chen, ProLogium

+886 3452-1991 ext. 18802

stan.chen@prologium.com

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Forward-looking Statements Disclaimer

This communication contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (“Exchange Act”) that are based on beliefs and assumptions and on information currently available to Gogoro Inc. (“Gogoro”). In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the ability of Gogoro’s business model to be successful in the future, future products, the capability of Gogoro’s technology including Gogoro’s solid-state batteries, Gogoro’s business plans, statements by Gogoro’s founder, chairman, and chief executive officer and the potential benefits of Gogoro’s partnership with ProLogium. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although Gogoro believes that it has a reasonable basis for each forward-looking statement contained in this communication, Gogoro cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the proxy statement/prospectus on Form F-4, as amended, which has been filed by Gogoro with the U.S. Securities and Exchange Commission (“SEC”) and other documents filed by Gogoro from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Gogoro cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks Gogoro does not presently know and believes are immaterial that could also cause actual results to differ from those contained in the forward looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Gogoro, their respective directors, officers or employees or any other person that Gogoro will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this communication represent the views of Gogoro as of the date of this communication. Subsequent events and developments may cause those views to change. However, while Gogoro may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of Gogoro as of any date subsequent to the date of this communication.

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Gogoro Unveils World’s First Swappable Solid State Battery Prototype for Electric Vehicles