Gogoro expands retail sales of its battery-swapping electric scooters in Korea
After first entering Korea in 2019 as part of a food delivery partnership, Gogoro is now expanding its battery-swapping electric scooters around the country and opening up ridership for everyday commuters. It’s a move that follows Gogoro’s tried and true strategy of entering countries with an initial focus on business customers and then expanding to private consumers.
Gogoro is well-known for its high-speed electric scooters and their swappable batteries, which eliminate the need to stop and charge the scooter for several hours. Instead, riders simply pull into a battery swap station and roll back out seconds later with new, fully charged batteries. Gogoro’s battery model has become something of a de facto standard, though other industry heavyweights like Honda have tried imitating it in order to eventually offer a competing standard.
In Gogoro’s domestic market of Taiwan, thousands of swap stations cover the country and ensure riders are always within a few minutes of a station. The company counts hundreds of thousands of battery swaps each day across those stations.
Moving beyond its home market, Gogoro has been aggressively expanding internationally over the last few years to reach countries across Asia including China, India, Indonesia, the Philippines, Korea, Japan, Singapore, and Israel.
The Korean expansion announcement comes as part of an evolving partnership with BikeBank, a leading electric two-wheeled vehicle service in Korea.
Together, the two companies will introduce Gogoro’s Smartscooters and the company’s lauded battery swapping to Korean consumers in Q3 2023 under the Dotstation brand, expanding the battery swapping network to seven additional cities beyond the current operations in Seoul.
Gogoro founder and CEO Horace Luke discussed the expanded partnership, saying:
It is great to be growing our partnership with Bikebank, a company that shares similar values and is committed to accelerating the shift to electric transportation in Korea. Seoul has one of the largest food delivery ecosystems in the world and was one of the first markets to embrace Gogoro battery swapping for food deliverie. Together, we are introducing Gogoro Smartscooters and battery swapping to Korean consumers while we continue to grow our B2B food delivery business where we work with market leaders to enable sustainable food delivery.
To support the major growth expected by the expansion of services, Bikebank has opened two Dotstation retail stores for consumers and last mile delivery riders as well as expanded the battery swapping network to more than 70 battery swapping stations across Korea. Those battery swapping stations will be available in the cities of Seoul, Daegu, Sejong, Changwon, Incheon, Gyeongsan, Gyeonggi, and Ulsan.
Minkyu Kim, CEO of Bikebank, expanded on the announcement:
Together with Gogoro, we are accelerating the transformation of urban mobility in Korea. We created Dotstation to lead us forward into a new era of sustainable urban transportation that provides a path for Korean consumers to embrace sustainability in a new and practical way. Dotstation is expanding Gogoro battery swapping services to eight Korean cities, and we anticipate launching more battery swapping locations this year with a range of vehicles including Gogoro Smartscooters for consumers.
The move could signal an increased focus on expanding B2C (business to consumer) operations around the world, after Gogoro has spent the last few years significantly growing its international B2B (business to business) operations.
That would align with the existing Gogoro strategy we’ve seen lately, as, Luke explained to Electrek:
“The expansion of our partnership with Bikebank in Korea today exemplifies our market entry and international expansion strategy. In Korea, we began with a pilot program and then progressed to a successful B2B food delivery service in Seoul and are now introducing Smartscooters and battery swapping to consumers across eight Korean cities.”
Electrek’s Take
This is big news for anyone who has drooled over Gogoro’s battery-swapping electric scooters. I happen to be lucky enough to live in a country that already received Gogoro’s scooters for consumers, and now I count the Gogoro S2 Performance ABS as my daily rider. I’m happy for Koreans that they’ll get to experience these awesome scooters and battery swapping system soon, too.
The model of course makes sense for delivery riders, since they can spend all day on their scooters and don’t have the luxury of waiting for a recharge. Compared to combustion engine motorcycles and scooters, a battery swap takes even less time than a fuel stop at a gas station. And of courser riders get all the other benefits of electric vehicles, such as the reduced noise, smoother operation, cleaner and lower maintenance experience, etc.
But for consumers, the ability to never worry about charging again is also a welcome advantage. And while Gogoro has significantly expanded its commercial operations to partner with food delivery companies around Asia, its consumer operations haven’t expanded quite as quickly. Seeing Koreans finally get the chance to buy Gogoro’s scooters for personal use is a major step and demonstrates that Gogoro is still focusing on expanding its consumer operations as well, marking the third and final move in the Pilot > B2B > B2C strategy it has followed.
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HAWESVILLE, KY – May 10
Plant workers drive along an aluminum potline at Century Aluminum Company’s Hawesville plant in Hawesville, Ky. on Wednesday, May 10, 2017. (Photo by Luke Sharrett /For The Washington Post via Getty Images)
Aluminum
The Washington Post | The Washington Post | Getty Images
Sweeping tariffs on imported aluminum imposed by U.S. President Donald Trump are succeeding in reshaping global trade flows and inflating costs for American consumers, but are falling short of their primary goal: to revive domestic aluminum production.
Instead, rising costs, particularly skyrocketing electricity prices in the U.S. relative to global competitors, are leading to smelter closures rather than restarts.
The impact of aluminum tariffs at 25% is starkly visible in the physical aluminum market. While benchmark aluminum prices on the London Metal Exchange provide a global reference, the actual cost of acquiring the metal involves regional delivery premiums.
This premium now largely reflects the tariff cost itself.
In stark contrast, European premiums were noted by JPMorgan analysts as being over 30% lower year-to-date, creating a significant divergence driven directly by U.S. trade policy.
This cost will ultimately be borne by downstream users, according to Trond Olaf Christophersen, the chief financial officer of Norway-based Hydro, one of the world’s largest aluminum producers. The company was formerly known as Norsk Hydro.
“It’s very likely that this will end up as higher prices for U.S. consumers,” Christophersen told CNBC, noting the tariff cost is a “pass-through.” Shares of Hydro have collapsed by around 17% since tariffs were imposed.
The downstream impact of the tariffs is already being felt by Thule Group, a Hydro customer that makes cargo boxes fitted atop cars. The company said it’ll raise prices by about 10% even though it manufactures the majority of the goods sold in the U.S locally, as prices of raw materials, such as steel and aluminum, have shot up.
But while tariffs are effectively leading to prices rise in the U.S., they haven’t spurred a revival in domestic smelting, the energy-intensive process of producing primary aluminum.
The primary barrier remains the lack of access to competitively priced, long-term power, according to the industry.
“Energy costs are a significant factor in the overall production cost of a smelter,” said Ami Shivkar, principal analyst of aluminum markets at analytics firm Wood Mackenzie. “High energy costs plague the US aluminium industry, forcing cutbacks and closures.”
“Canadian, Norwegian, and Middle Eastern aluminium smelters typically secure long-term energy contracts or operate captive power generation facilities. US smelter capacity, however, largely relies on short-term power contracts, placing it at a disadvantage,” Shivkar added, noting that energy costs for U.S. aluminum smelters were about $550 per tonne compared to $290 per tonne for Canadian smelters.
Recent events involving major U.S. producers underscore this power vulnerability.
In March 2023, Alcoa Corp announced the permanent closure of its 279,000 metric ton Intalco smelter, which had been idle since 2020. Alcoa said that the facility “cannot be competitive for the long-term,” partly because it “lacks access to competitively priced power.”
Similarly, in June 2022, Century Aluminum, the largest U.S. primary aluminum producer, was forced to temporarily idle its massive Hawesville, Kentucky smelter – North America’s largest producer of military-grade aluminum – citing a “direct result of skyrocketing energy costs.”
Century stated the power cost required to run the facility had “more than tripled the historical average in a very short period,” necessitating a curtailment expected to last nine to twelve months until prices normalized.
The industry has also not had a respite as demand for electricity from non-industrial sources has risen in recent years.
Hydro’s Christophersen pointed to the artificial intelligence boom and the proliferation of data centers as new competitors for power. He suggested that new energy production capacity in the U.S., from nuclear, wind or solar, is being rapidly consumed by the tech sector.
“The tech sector, they have a much higher ability to pay than the aluminium industry,” he said, noting the high double-digit margins of the tech sector compared to the often low single-digit margins at aluminum producers. Hydro reported an 8.3% profit margin in the first quarter of 2025, an increase from the 3.5% it reported for the previous quarter, according to Factset data.
“Our view, and for us to build a smelter [in the U.S.], we would need cheap power. We don’t see the possibility in the current market to get that,” the CFO added. “The lack of competitive power is the reason why we don’t think that would be interesting for us.”
While failing to ignite domestic primary production, the tariffs are undeniably causing what Christophersen termed a “reshuffling of trade flows.”
When U.S. market access becomes more costly or restricted, metal flows to other destinations.
Christophersen described a brief period when exceptionally high U.S. tariffs on Canadian aluminum — 25% additional tariffs on top of the aluminum-specific tariffs — made exporting to Europe temporarily more attractive for Canadian producers. Consequently, more European metals would have made their way into the U.S. market to make up for the demand gap vacated by Canadian aluminum.
The price impact has even extended to domestic scrap metal prices, which have adjusted upwards in line with the tariff-inflated Midwest premium.
Hydro, also the world’s largest aluminum extruder, utilizes both domestic scrap and imported Canadian primary metal in its U.S. operations. The company makes products such as window frames and facades in the country through extrusion, which is the process of pushing aluminum through a die to create a specific shape.
“We are buying U.S. scrap [aluminium]. A local raw material. But still, the scrap prices now include, indirectly, the tariff cost,” Christophersen explained. “We pay the tariff cost in reality, because the scrap price adjusts to the Midwest premium.”
“We are paying the tariff cost, but we quickly pass it on, so it’s exactly the same [for us],” he added.
RBC Capital Markets analysts confirmed this pass-through mechanism for Hydro’s extrusions business, saying “typically higher LME prices and premiums will be passed onto the customer.”
This pass-through has occurred amid broader market headwinds, particularly downstream among Hydro’s customers.
RBC highlighted the “weak spot remains the extrusion divisions” in Hydro’s recent results and noted a guidance downgrade, reflecting sluggish demand in sectors like building and construction.
— CNBC’s Greg Kennedy contributed reporting.
Danish energy giant Ørsted has canceled plans for the Hornsea 4 offshore wind farm, dealing a major blow to the UK’s renewable energy ambitions.
Hornsea 4, at a massive 2.4 gigawatts (GW), would have become one of the largest offshore wind farms in the world, generating enough clean electricity to power over 1 million UK homes. But Ørsted announced that it’s abandoning the project “in its current form.”
“The adverse macroeconomic developments, continued supply chain challenges, and increased execution, market, and operational risks have eroded the value creation,” said Rasmus Errboe, group president and CEO of Ørsted.
Reuters reported that Ørsted’s cancellation of Hornsea 4 would result in a projected loss of up to 5.5 billion Danish crowns ($837.85 million) in breakaway fees and asset write-downs. The company’s market value has declined by 80% since its peak in 2021.
The cancellation highlights significant challenges currently facing offshore wind development in Europe, particularly in the UK. The combination of higher material costs, inflation, and global financial instability has made large-scale renewable projects increasingly difficult to finance and complete.
Ørsted’s decision is a significant setback to the UK’s energy transition goals. The UK currently has around 15 GW of offshore wind, and Hornsea 4’s size would have provided almost 7% of the additional capacity needed for the UK’s 50 GW by 2030 target, according to The Times. Losing this immense project off the Yorkshire coast could hamper the UK’s pace of reducing dependency on fossil fuels, especially amid volatile global energy markets.
The UK government reiterated its commitment to renewable energy, promising to work closely with industry leaders to overcome financial and logistical hurdles. Energy Secretary Ed Miliband told reporters in Norway that the UK is “still committed to working with Orsted to seek to make Hornsea 4 happen by 2030.”
Ørsted says it remains committed to its other UK-based projects, including the Hornsea 3 wind farm, which is expected to generate around 2.9 GW once completed at the end of 2027. Despite the challenges, the company emphasized its ongoing commitment to the British renewable market, pointing to the critical need for policy support and economic stability to ensure future developments.
Yet, the cancellation of Hornsea 4 demonstrates that even flagship renewable projects are vulnerable in the face of economic pressures and global uncertainties, which have been heightened under the Trump administration in the US.
Read more: The world’s single-largest wind farm gets the green light
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The Tesla Roadster appears to be quietly disappearing after years of delay. is it ever going to be made?
I may have jinxed it with Betteridge’s Law of Headlines, which suggests any headline ending in a question mark can be answered with “no.”
The prototype for the next-generation Tesla Roadster was first unveiled in 2017, and it was supposed to come into production in 2020, but it has been delayed every year since then.
It was supposed to get 620 miles (1,000 km) of range and accelerate from 0 to 60 mph in 1.9 seconds.
It has become a sort of running joke, and there are doubts that it will ever come to market despite Tesla’s promise of dozens of free new Roadsters to Tesla owners who participated in its referral program years ago.
Tesla uses the promise of free Roadsters to help generate billions of dollars worth of sales, which Tesla owners delivered, but the automaker never delivered on its part of the agreement.
Furthermore, many people placed deposits ranging from $50,000 to $250,000 to reserve the vehicle, which was supposed to hit the market 5 years ago.
The official timelines from Tesla are pretty useless at this point since they haven’t stuck to any of them, but the latest official one dates back to July 2024 when CEO Elon Musk said this:
“With respect to Roadster, we’ve completed most of the engineering. And I think there’s still some upgrades we want to make to it, but we expect to be in production with Roadster next year. It will be something special.”
He said that Tesla had completed “most of the engineering”, but he initially said the engineering would be done in 2021 and that was already 3 years after the prototype was unveiled and a year after it was supposed to be in production:
Musk commented on the Roadster again in October 2024, but he didn’t reiterate the 2025 timeline. Instead, he called the new Roadster “the cherry on the icing on the cake.”
Tesla’s leadership has been virtually silent about the new Roadster since. Two Tesla executives even had to be reminded about the Roadster by Jay Leno after they “forgot” about it when listing upcoming new Tesla vehicles with tri-motor powertrain.
There was one small update about the Roadster in Tesla’s financial results last month.
The automaker has a table of all its vehicle production, and the Roadster was updated from “in development” to “design development” in the table:
It’s not clear if that’s progress or Tesla is just rephrasing it. Either way, it is not “construction”, which makes it unlikely that the Roadster is going into production this year.
If ever…
Electrek’s Take
It looks like Tesla owes about 80 Tesla Roadsters for free to Tesla owners who referred purchases, and it owes significant discounts on hundreds of units.
It’s hard for me to believe that Tesla is not delivering the new Roadster because the vehicle program would start about $100 million in the red, but at this point, I have no idea. It very well might be the reason.
However, I think it’s more likely that Tesla is just terrible at bringing multiple vehicle programs to market simultaneously. Case in point: it launched a single new vehicle in the last five years.
At this point, I think it’s more likely that the Roadster will never happen. It will join other Tesla products like the Cybertruck Range Extender.
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