Globe-trotting battery swapping motorbike leader Gogoro powers 90% of local electric scooters
When it comes to battery-swapping electric scooters, there are several names floating around out there. But only one can boast near total domination of the market: Gogoro.
The company just announced annual 2022 figures that show its batteries powered 90% of the electric scooters sold in its domestic market.
The Taiwanese-based company is quickly expanding to over a half a dozen countries, but Gogoro’s success is built upon its near complete dominance of its local market where it all began.
Gogoro first demonstrated that its electric scooters could be powered by the company’s swappable battery packs when it started rolling out its battery swap GoStations in 2015.
In the beginning it was difficult to convince businesses to let Gogoro install the small battery swap kiosks in their parking lots. But as soon as word spread that the vending machine-sized GoStations brought in riders (and thus customers), the stations started popping up everywhere. Now thousands of GoStations span the country of Taiwan where they perform around 390,000 daily swaps. There are so many stations that riders are rarely more than a kilometer (0.6 miles) from a battery swap station in large cities like Taipei. Gogoro riders have even circled the entire country, making use of battery swap stations along the way (that circumnavigating Taiwan trip is high up on my bucket list!).
Gogoro’s own electric scooters have proven incredibly popular among riders, but that’s only a portion of Gogoro’s operations. The company has opened its battery network, allowing other manufacturers to build electric scooters that are powered by Gogoro’s batteries. That has lead to companies like Yamaha, Hero, Yadea, A-Motor, eMoving and others developing new e-scooter designs that are compatible with Gogoro’s existing battery network.
Gogoro’s electric scooters are still the majority of all Gogoro-powered two-wheelers, but the other companies in the network also make up sizable shares in the market. In fact, five of the top six electric scooters in Taiwan use Gogoro’s batteries.
Together they account for 90% of all electric scooters sold in Taiwan based on the government’s 2022 annual scooter sales report.
The share of electric scooters is also growing in the country as ICE-powered riders shift towards electric alternatives. E-scooters now make up 12% of all scooter sales, a figure that is quickly growing in part due to government incentives. Battery swapping has helped facilitate that massive shift, with swap stations now outnumbering gas stations in Taiwan’s major cities.
As Gogoro CEO and founder Horace Luke explained:
“We are proud of the progress Gogoro and its partners are making to lead Taiwan into a smarter and cleaner future. With five out of the top six electric scooter makers using Gogoro Network battery swapping, Gogoro is powering 90% of all electric scooters in Taiwan and there are now more Gogoro Network battery swapping locations than gas stations across Taiwan’s major cities. Consumers and governments are demanding cleaner and smarter transportation choices for cities like never before and with Gogoro’s technology, partners and experience we are well positioned to meet their needs.”
The figures behind Gogoro’s success are astounding. The Gogoro Network currently supports more than 524,000 riders and boasts more than 1.1 million smart batteries in circulation. Those batteries account for over 370 million swaps to date across the company’s 12,200 battery swapping GoStations at over 2,504 locations. Gogoro calculates that its batteries have been responsible for saving more than 250,000 tons of CO2.
Gogoro isn’t the only company operating battery swap stations in Taiwan. Its competitor KYMCO also boasts a diverse line of IONEX electric scooters that use KYMCO’s battery swapping stations. The company has rapidly expanded the number of swap stations in Taiwan and is catching up to Gogoro’s over 2,500 GoStations. However, it appears KYMCO has yet to make a sizable dent in ridership compared to Gogoro’s 90% market share.
KYMCO hopes to bring its battery swapping electric scooters to Europe, while Gogoro has so far focused on expanding its operations across Asia. Gogoro has announced that its batteries and/or scooters are now operational or will be starting operations in India, Indonesia, Singapore, South Korea, China, The Philippines, and Israel.
Electrek’s Take
I’ve said it before and I’ll say it again: Gogoro is the de facto battery swapping standard. Other companies like Honda that don’t want to be locked into Gogoro’s standard have set about trying to develop their own competing standards, but they’re not really making any progress. The last I heard, Honda set up four battery swap stations in India. Hey, I guess it’s a start?
I know that competitors would rather control the market, but it would be better for consumers if manufacturers would just standardize. Gogoro’s form factor is convenient, accessible, largely future-proofed (they have solid-state batteries coming in the same battery cases) and they work really well.
I say that as the owner of a Gogoro scooter. I live in Tel Avi and use a Gogoro S2 ABS scooter as my daily driver. I end up swapping batteries around once a week or so and it’s a quick, easy and painless operation that takes around 30 seconds. I never charge. I never worry about range. I just ride. If I get low on battery, I’m basically always less than about 2 km (1.2 miles) from a swap station, and usually I’m much closer than that.
I’m not surprised to see that Gogoro still retains such a large market share in Taiwan even as other electric scooter companies grow their operations. What I’m really excited about though is their international expansion plans.
People always ask me when I think Gogoro will come to Europe or the Americas. It doesn’t seem to be in Gogoro’s short term plans, but I could be wrong. As it stands, it looks like they want to dominate Asia first due to the massive size of the market there and the opportunity that such a vast amount of riders offers to make an even larger impact on the two-wheeled landscape and on the environment. But with European and American riders obviously begging for Gogoro to continue rolling westward, it can only be a matter of time.
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Ferrari and Porsche will soon have company. BYD just confirmed plans to launch Yangwang, its ultra-luxury EV brand, in Europe. It will be the first Chinese brand to enter Europe’s most elite segment.
BYD preps new ultra-luxury EV brand for Europe
After launching Denza earlier this year, BYD is set to introduce another luxury brand to Europe. Yangwang is BYD’s most exclusive lineup of new energy vehicles, featuring its advanced technology and performance.
The brand has been on sale in China for about two and a half years, and now, it’s preparing to launch in Europe. BYD’s vice president Stella Li told Autocar that “our plan is that we will bring Yangwang into Europe,” after Denza earlier next year.
BYD launched its ultra-luxury EV brand in January 2023, with the first vehicle, the Yangwang U8, going on sale in September of the same year.
The Yangwang U8 is a Range Rover-like extended range electric SUV (EREV), packing over 1,100 hp (880 kW). It also comes loaded with features like float mode, which allows it to literally float on water, tank turns, and the U8 can even plow through more water than a Defender.
A few months later, BYD launched the second vehicle, the Yangwang U9, in February 2024. The Yangwang U9 is an electric supercar that can jump and dance thanks to BYD’s DiSus-X body control system.
It’s faster than a Ferrari, with four electric motors delivering nearly 1,300 hp, enabling a 0 to 62 mph (0 to 100 km/h) sprint in just 2.36 seconds.
The Yangwang U8 and U9 start at 1,098,000 RMB ($150,000) and 1,680,000 RMB ($230,000) in China, respectively. Both will be sold in Europe.
Li said that “more cars are coming,” including the Yangwang U7, an electric ultra-luxury sedan. BYD delivered the first U7 models in China last month, starting at 628,000 RMB ($87,000).
The four-seater variant costs 708,000 RMB, or about $98,500, which is still about half the cost of the most affordable Ferrari.
With Yangwang set to arrive in Europe, BYD will be the first Chinese automaker to enter Europe’s top luxury auto segment.
With an additional 17% tariff, export costs, and other factors, prices in Europe are expected to be notably higher. We will learn more as we get closer to launch.
Source: Autocar
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The logo for the U.S. tech firm Block is displayed and reflected in numerous digital screens in London, England, on March 3, 2023.
Leon Neal | Getty Images
Block shares jumped 7% on Monday after S&P Global said the company will join the S&P 500, replacing Hess, which was acquired by Chevron’s for $54 billion.
The stock rose following the announcement late Friday as investors sought to get in ahead of index fund managers, who will need to buy shares to mimic the changes. Square’s $48 billion market cap at Monday’s close places it well above the median S&P 500 constituent, though shares are still down 8% this year.
Passive funds are expected to purchase roughly 101 million shares of Block due its inclusion, equivalent to about 11 days of average trading volume, according to a note from Stephens.
Block is working to reestablish investor confidence after uneven performance from its Cash App business. Gimme Credit’s Stu Novick noted that while gross profit growth missed estimates last quarter, the company still delivered strong adjusted earnings and improving cash flow.
While Block is joining the benchmark index, a major player in the fintech industry remains on the sidelines.
Robinhood has delivered one of the strongest recent runs in the U.S. stock market, soaring 345% in the past year. Yet despite nearing a nearly $100 billion, the company has been repeatedly passed over for S&P 500 inclusion.
Robinhood shares fell almost 5% on Monday.
Environment
Anker PowerCore Reserve station $88, Schumacher’s new portable level 1 EV charger $130, Aiper IrriSense system $100 off, more
This week’s Green Deals are starting with Anker’s PowerCore Reserve 60,000mAh Power Station down at $88 for all your device-charging needs. Next, we have Schumacher’s new SEV1670 12A Level 1 Portable EV Charger at its second-best rate of $130, as well as Aiper’s new IrriSense Smart Irrigation System getting second-ever savings to $600, which is where it was priced during Prime Day. We also have Hoverfly’s H3 16-inch Folding e-bikes getting add-on accessory bundles and a new one-day-only low price on Greenworks’ pro-grade 3,000 PSI Electric Pressure Washer waiting for you below. Plus, there’s all the hangover savings from last week at the bottom of the page, collected together within our Electrified Weekly roundup.
Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.
Carry Anker’s 60,000mAh PowerCore Reserve station and keep devices running for $88
By way of its official Amazon storefront, Anker is offering its PowerCore Reserve 60,000mAh Power Bank Station at $87.99 shipped, with it also coming in a few dollars under the brand’s current direct pricing. Normally costing $150 at full price, we’ve mostly seen discounts over the last year dropping costs between $110 and $90, though there have been a few select falls to $80, and recently we saw Prime Day take things to $75. While it may not be the new lowest price, you’re still looking at the third-best rate we have tracked, saving you $62 off the going rate while equipping you with a sizably reliable means to keep your personal devices juiced up and running.
Anker’s PowerCore Reserve power station, which you’ll also find sold under the name 548 Power Bank, is a five-pound backup power solution to top off personal devices with while you’re camping, cruising the roadways, hanging out on the beach, and much more. You’ll have a totable 60,000mAh/192Wh battery capacity here that beats out most power banks on the market while also delivering up to 60W speeds through either its two USB-A ports or two USB-C ports.
Aside from its easy-to-carry design, it also comes sporting a convenient pop-up light for when you’re out in the dark of the wilderness or even without power at home, coming with two brightness levels alongside an S.O.S. mode to signal for help in emergencies. You can completely recharge its battery by plugging it into a wall outlet or by utilizing up to its 60W solar input to charge via the sun.
Schumacher’s 2025 level 1 portable EV charger plugs into any 120V outlet for on-the-go power at $130
Amazon is now offering the new Schumacher SEV1670 12A Level 1 Portable EV Charger at $129.59 shipped. This model hit the scene at the tail-end of May with a $160 price tag, which has only recently started seeing discounts, with the biggest of them being from the Prime Day sale event two weeks ago that saw the costs taken down to $128. Today’s deal comes in just $2 above that rate for the second-best pricing we have tracked, all while giving you $30 in savings.
If you want to learn more about this new model and its capabilities, be sure to check out our original coverage of this deal here.
Aiper’s new IrriSense smart irrigation system covers up to 4,800 square feet at $600 (second-ever discount)
Coming to us through its official Amazon storefront, Aiper is offering the second-ever discount on its new IrriSense Smart Irrigation System back to $599.99 shipped, matching directly from the brand’s website. This new smart irrigation device has only been on the market since May, with it usually going for $700 outside of the two price cuts we’ve seen. It first dropped to this same rate the day before Prime Day began, and hung on to the savings through the four-day event. Now, it’s coming back for a post-Prime second chance, saving you $100 while upgrading your lawn care routine with a smarter alternative.
If you want to learn more about this new smart device, be sure to check out our original coverage of this deal here.
Hoverfly’s H3 16-inch folding e-bikes make great first-time rides with four add-on accessories starting from $406
Amazon is offering quite the affordable bundle on Hoverfly’s H3 16-inch Folding e-bike in its orange colorway, and coming with four add-on accessories at $406.09 shipped, while its other colorways are seeing smaller discounts at higher rates. It’s dropping down from the $580 price tag today, with this being the first time we’ve spotted this particular bundle dropping so low. Before the fall to $425 during Prime Day, we only ever saw costs fall as low as $450, with all those rates beaten by the 30% markdown here that gives you $174 in savings and a new all-time low price. Along with the bike, you’ll be getting a front carrier bag, a rear cargo basket, a phone holder, and a rearview mirror to upgrade and elevate your experience.
If you want to learn more about this budget-friendly e-bike, be sure to check out our original coverage of this bundle deal here.
Greenworks’ Pro-grade 3,000 PSI vertical electric pressure washer falls to lowest price tracked at $285 (Today only)
As part of its Deals of the Day, Best Buy is offering the best pricing yet on the newer Greenworks Pro 3,000 PSI Vertical Electric Pressure Washer for $284.99 shipped, with it beating out the brand’s direct website pricing while the closest match at Amazon is the newest counterpart that normally goes for $450. This model would normally run you $400 at full price, which we’ve seen discounts so far take as low as $300. For the rest of the day, you can take advantage of the 29% markdown here to pick it up at the best new price we have tracked, saving you $115 in the process.
If you want to learn more about this newer pro-grade outdoor cleaning solution, be sure to check out our original coverage of this one-day-only deal here.
Best Summer EV deals!
- Aventon Ramblas Electric Mountain Bike: $2,599 (Reg. $2,899)
- Heybike Hero Carbon Fiber All-Terrain 750W mid-drive e-bike: $2,599 (Reg. $3,099)
- Ride1Up Prodigy v2 Brose Mid-Drive Gates Belt CVT e-bike: $2,595 (Reg. $2,795)
- Velotric Nomad 2X Multi-Terrain Camo e-bike with $50 bundle: $2,499 (No price cut)
- Ride1Up Revv 1 DRT Off-Road Moped-Style e-bike: $2,495 (Reg. $2,595)
- Ride1Up Revv 1 Full Suspension Moped-Style e-bike: $2,395 (Reg. $2,595)
- Heybike Hero Carbon Fiber All-Terrain 1,000W rear-hub e-bike: $2,299 (Reg. $2,599)
- Ride1Up Prodigy v2 Brose Mid-Drive 9-Speed e-bike: $2,095 (Reg. $2,495)
- Velotric Nomad 2 All-Terrain e-bike with $120 bundle (new model): $1,999 (No price cut)
- Rad Power Radster Road Commuter e-bike: $1,999 (Reg. $2,199)
- Rad Power Radster Trail Off-Road e-bike: $1,999 (Reg. $2,199)
- Lectric XPedition 2.0 35Ah Cargo e-bike w/ up to $703 bundle: $1,999 (Reg. $2,702)
- Tenways AGO X All-Terrain e-bike with $307 bundle: $1,899 (Reg. $2,499)
- Velotric Breeze 1 Cruiser e-bike with $150 bundle (new model): $1,799 (No price cut)
- Aventon Pace 4 Smart Cruiser e-bike (new model, first discount): $1,699 (Reg. $1,799)
- Lectric XPedition 2.0 26Ah Cargo e-bike w/ $554 bundle: $1,699 (Reg. $2,253)
- Lectric XPeak 2.0 Long-Range Off-Road e-bike with $316 bundle: $1,699 (Reg. $1,915)
- Aventon Aventure 2 All-Terrain e-bike: $1,699 (Reg. $1,999)
- Aventon Abound Cargo e-bike: $1,599 (Reg. $1,999)
- Lectric XPeak 2.0 Standard Off-Road e-bike with $227 bundle: $1,499 (Reg. $1,726)
- Lectric XP Trike2 with $227 preorder bundle (through July 28): $1,499 (Reg. $1,726)
- Tenways CGO600 Pro e-bikes with $118 bundle: $1,499 (Reg. $1,899)
- Velotric Nomad 1 Plus All-Terrain e-bike: $1,499 (Reg. $1,899)
- Lectric XP Trike with $405 bundle: $1,499 (Reg. $1,904)
- Lectric XPedition 2.0 13Ah Cargo e-bike with $326 bundle: $1,399 (Reg. $1,725)
- Aventon Level 2 Commuter e-bike (2025 low): $1,399 (Reg. $1,899)
- Ride1Up Roadster V3 Lightweight Premium e-bike: $1,395 (Reg. $1,495)
- Velotric T1 ST Plus Lightweight e-bike: $1,399 (Reg. $1,649)
- Lectric XPress 750 Commuter e-bikes with $336 bundle: $1,299 (Reg. $1,635)
- Lectric XP4 750 LR Folding Utility e-bikes with $356 bundle: $1,299 (Reg. $1,655)
- Lectric XP Lite 2.0 JW Black LR e-bike with $414 bundle: $1,099 (Reg. $1,513)
- Ride1Up Portola Folding e-bike with BOGO accessory promo: $995 (Reg. $1,095)
- Lectric XP4 Standard Folding Utility e-bikes with $79 bundle: $999 (Reg. $1,078)
- Lectric XP Lite 2.0 Long-Range e-bikes with up to $414 bundles: $999 (Reg. $1,413)
- Heybike Hauler Single-Battery Cargo e-bike: $999 (Reg. $1,499)
- Rad Power RadExpand 5 Folding e-bike (new low): $999 (Reg. $1,599)
- Segway ZT3 pro eKickScooter: $902 (Reg. $1,300)
- Navee ST3 Pro Electric Scooter (new model): $760 (Reg. $1,014)
- Navee GT3 Pro Electric Scooter (new model): $520 (Reg. $714)
Best new Green Deals landing this week
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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