Last year's management teamMajor blood transfusionAfter being led by Ruentex Group, Gogoro announced its new development plan at an event today (2/18). In addition to announcing its cooperation with automotive fuel manufacturer Castrol in the Vietnamese market, it also plans a major strategy to achieve financial growth. It is expected that the energy business will first achieve break-even in 2026, and the vehicle business plans to achieve break-even in 2028.
Propose a solution for the situation where users often find it difficult to replace fully charged batteries
Gogoro Acting CEO Jiang Jiawei also stated that in response to the current difficulty users face in getting fully charged batteries on their GoStations, Gogoro will propose better solutions through data analysis. The current solution is a new all-you-can-ride off-peak plan, expected to be launched in the second half of this year. This will allow users to enjoy unlimited free battery swaps during off-peak hours within a total of 14 hours per day. During other periods, users will be charged NT$2.3 per ampere-hour (Ah).
至於Gogoro官方定義的離峰時段個為凌晨12點至早上6點、上午10點至下午4點，以及晚間10點至凌晨12點三個區間，同時單顆電池將以每月新台幣488元計算，兩顆電池則以每月新台幣888元計算，超過額度則會繼續往上累加。
However, Gogoro also admitted that this approach still cannot solve the problem of users needing to use a fully charged battery in the moment, but at least it can provide some psychological compensation for the cost. Therefore, it also stated that it will conduct more data analysis to study more appropriate charging curves for battery swap stations. For example, it will adjust the charging efficiency of battery swap stations in different regions so that they can charge at a higher power during off-peak hours, so that the battery can reach a certain degree of full charge rate or have a higher overall capacity.
On the other hand, Gogoro will also use the new version of the app interface, which is expected to be launched in March, to allow users to know the battery charge status of frequently used battery swap stations on the homepage, or the system will automatically recommend newly built nearby battery swap stations. In addition, a real-time online customer service system will be added, allowing users to more quickly troubleshoot vehicle and battery usage issues. Other updates include real-time monitoring of users' riding habits, and the system can automatically recommend more suitable battery tariff plans based on riding habits.
The future of the vehicle business will focus on simplifying the product line
Regarding the future development of its vehicle business, Gogoro stated that it will follow the practices of the majority of the automotive market and develop its vehicle products towards modularity and platformization. Therefore, existing high-end models will return to a single product line, while the number of mid-range models will be reduced from the current five to three, and the number of entry-level models will be reduced from the current two to one, streamlining the entire vehicle product line to five. This will reduce R&D and production costs, shorten product development cycles, and accelerate vehicle product updates and market entry time.
Furthermore, platforming vehicle products not only simplifies the R&D and production processes, but also maintains quality consistency. It can also accelerate the development of PBGN Alliance partner vehicles, allowing partners to invest in R&D and design at an earlier stage, thereby accelerating the popularization of PBGN Alliance partner vehicles.
Jiang Jiawei further pointed out that the current vehicle market is showing a polarized development trend between high-end models and affordable models. Therefore, Gogoro's future market strategy will focus on providing affordable models that are more affordable and can attract a wider user market. At the same time, it also plans to create higher-end models for heavy users and high-end car owners.
Layout of Southeast Asian market
Jiang Jiawei said that Gogoro's overseas layout strategy, which has been relatively chaotic in the past, will be more focused on the Southeast Asian market starting this year. Its electric vehicle sales are expected to have an annual compound growth rate of more than 2025% from 2030 to 30. It will also use the development experience of the Korean market as an example, cooperate with local leading companies, with Gogoro itself playing a key role, and drive growth through cooperation.
Therefore, Gogoro recently announced the establishment of a joint venture with CASH in Vietnam to expand its presence in the Vietnamese market. It has also recently partnered with GoTo, the largest technology group in Indonesia that owns both Tokopedia and Gojek service platforms, to strengthen its presence in the Southeast Asian market.
Continuously updating the energy grid
Gogoro also addressed recent criticism of its energy network, emphasizing that it currently has 2695 battery swap stations across Taiwan, achieving a 90% coverage rate. In the six major cities, there's a battery swap station almost every 300 meters, with economic activity and traffic hotspots being a key focus. The company also revealed that the cumulative number of batteries currently in service has reached 140 million, with an average of 45 batteries per station. The company also revealed that the charging efficiency of the gradually updated GoStation 5.0 battery swap stations has increased by 2.5 times, and that normal operation is ensured through XNUMX/XNUMX monitoring of the energy network and battery status.
In conjunction with the data analysis approach mentioned above, Gogoro also revealed that it will use data analysis to adjust the charging curve of battery swap stations, allowing battery swap stations in different regions to ensure full battery charge rates with differentiated charging efficiency. At the same time, it will also cooperate with the new off-peak unlimited riding plan to reduce the sense of infringement of user rights.
Virtual power plant service ready to go online
As for batteries that face replacement as their life cycle reaches its optimal use, Gogoro said it will continue to expand their subsequent application possibilities. For example, the previous collaboration with Far EasTone on a smart traffic signal uninterrupted power supply system and the collaboration with Shengming Technology on smart parking pillars both use Gogoro batteries as a power source.
Therefore, Jiang Jiawei also anticipates that this type of battery application model will be further expanded to scenarios such as medical facilities and retail stores that require emergency backup power and uninterruptible power systems, or as a basis for production lines that require large amounts of electricity. The previously proposed Gogoro energy storage system prototype also passed Taipower's compatibility verification last year, so it has the potential to become a home battery energy storage system similar to Tesla's Powerwall and be used in general households in the future.
As for its long-proposed Virtual Power Plant (VPP) service, Gogoro explained that it played a role during last year's Hualien earthquake, assisting with load shedding during local power outages, equivalent to the average daily electricity consumption of 815 households in a single month. This service is expected to become a key development project for Gogoro, and the company also revealed that it will increase its energy network service R&D spending by 26% and accelerate the development of subsequent applications for battery replacement.
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Overall, Gogoro's future goals will be to focus more on developing its energy network. Given current market trends, ensuring profitability in its energy network business is crucial for generating greater market returns and expanding the potential for further application development, particularly in energy storage and virtual power plants. Even the potential for carbon trading, which may be a future development goal for Gogoro, is crucial.
Last year, Gogoro underwent a major restructuring, with operations now led by people from the Ruentex Group. This also shows that its goal is to focus on longer-term energy trading transactions. Perhaps this will also allow Gogoro to focus more on the long-term goals it originally set, rather than just selling vehicles.
However, this announcement also addresses service adjustments aimed at the majority of users. For example, Gogoro will continue to improve battery usage and introduce new battery pricing plans to expand user options. Furthermore, the company has redesigned its vehicle product development strategy, focusing on simplification, cost reduction, and a greater emphasis on affordable and high-end models in an effort to attract more users. However, whether Gogoro can successfully address user needs will likely depend on its future actions.
