Frost & Sullivan Recognizes Gogoro with the 2020 Global Company of the Year Award for the Swappable Battery Electric Scooter Market

SANTA CLARA,Calif.,Dec. 16,2020 --Based on its recent analysis of the global swappable battery electric scooter market,Frost & Sullivan announced today it is recognizing Taiwan-based Gogoro with the 2020 Global Company of the Year Award for its Gogoro Network™. Gogoro Network is an intelligent energy platform that combines the power of connectivity,artificial intelligence,and machine learning to create a new generation of swappable refueling that is smart,scalable,and continually optimizing itself.

Gogoro

Gogoro has grown from 70 GoStations® in 2015 to nearly 2,000 stations in 2020,accessed by nearly 360,000 customers every month. Gogoro strategically places these stations every 500 meters in places such as malls,convenience stores,parking structures,and coffee shops. It has established consumer battery swapping on a mass scale,performing 265,000 battery swaps each day (135 million to date). It demonstrates that its business model is viable and practical.

"The company expects to build the service out in several cities outside of Taiwan," said Vishwas Shankar,Research Director at Frost & Sullivan. "As a testament to its success with GoStations®,its vehicles,and the overall Gogoro Network,the company's ridership developed their own community,forming multiple forums and networks and becoming ambassadors for climate change and clean energy transportation. All this comes together via the innovative Gogoro Network™,which utilizes cloud computing to connect to GoStations™,battery swapping stations designed to exchange used batteries for charged ones."

In a typical usage scenario,a customer rides up to a GoStation®,places used batteries in the two open slots,and six seconds later,receives pre-charged batteries in exchange. In those six seconds,the GoStation® authenticates the owner and performs a vehicle diagnostic to ensure safety. Gogoro maintains ownership of the batteries to reduce costs for customers and provide frequent upgrades.

"The 'Powered by Gogoro Network' program has extended Gogoro's leading battery swapping system to a growing number of vehicle makers that include Yamaha,PGO,Aeon Motor,Tai Ling Industry and eMOVING," noted Jeffrey Castilla,Best Practices Research Team Leader at Frost & Sullivan. "With its vision for increasing sustainability through mobility,Gogoro is steadily achieving its goal of enabling the large-scale transition from fossil fuels to sustainable energy."

Each year,Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership,technological innovation,customer service,and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews,analyses,and extensive secondary research to identify best practices in the industry.

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Lindsey Whitaker

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About Gogoro Inc.

Founded in 2011,Gogoro is putting energy into things that matter. With a mission to deliver consumer innovations through an intelligent urban ecosystem that will improve how the world's most populated cities distribute and utilize energy,the company is enabling the transformation of megacities into smart cities. Gogoro is working toward a better future by putting power in the hands of everyone – to move us all forward,faster. For more information,visit www.gogoro.com/press.