The report further added that the joint venture entity is likely to be established in 2021 or early 2022, wherein the JV funding is expected in 2022
Taiwanese electric scooter maker Gogoro Inc. that specialises in battery-swapping technology will make its foray into India, the world’s largest motorcycle market, in Q4 2022, as per an internal presentation to its investors, accessed by ETAuto.
Homegrown automaker Hero MotoCorp is reportedly likely to partner with Taiwanese battery swapping technology provider Gogoro to support the latter’s foray into India in 2022.
As per a report by Economic Times, Gogoro will enter the country in the fourth quarter of 2022 in partnership with Hero MotoCorp to launch Hero-branded two-wheelers powered by Gogoro’s battery sharing infrastructure, which would be available in many cities in India.
The two companies announced that they will be forming a joint venture (JV) to bring battery-sharing infrastructure into the country earlier this year.
Besides tying up with the Gogoro, Hero MotoCorp is looking to launch an independent electric model with a fixed battery in March and mark its entry into the segment.
The company is utilising its Jaipur (Rajasthan) and Stephanskirchen (Germany) based R&D set-ups to develop its own electric products.
The report further added that the joint venture entity is likely to be established in 2021 or early 2022, wherein the JV funding is expected in 2022.
While the company is working on finalizing the vehicle schedule, it has identified the cities for the initial roll-out, which will be Delhi and Bangalore with 7,000 customer touchpoints across India.
Recently, Gogoro signed a Memorandum of Understanding (MOU) with Foxconn to form a strategic technology and manufacturing partnership.
