$1.5 billion ‘Ultra Mega Project’ to spread Gogoro’s battery-swapping electric scooters
Gogoro, the current leader in battery-swapping electric scooters, has just announced a massive partnership with the Maharashtra government to spread its battery standard, battery-swapping stations, and electric scooters across the state.
Motorcycles and scooters greatly outnumber cars in India by around 4:1. Thus, it makes sense that any effort at electrifying transportation in the world’s most populated country will obviously need to tackle two-wheelers first.
Maharashtra is the largest state in India and includes Mumbai, the financial capital and most populated city in the country.
The state government and Gogoro have jointly announced at a Maharashtrian state government press conference that they will enter into an “Ultra Mega Project” agreement to manufacture electric vehicles, smart battery packs, and battery swap stations in order to deploy Gogoro’s battery-swapping infrastructure in the state beginning in late 2023.
The Maharashtra government categorizes Ultra Mega Projects as significant strategic investments exceeding US $500 million, which usually result in government incentives to ensure successful project execution. Gogoro’s request for financial incentives was approved and endorsed by the Maharashtra state cabinet, and the two parties expect to complete the agreement soon.
Gogoro’s electric scooters and battery-swapping network are designed to be a simple and easy way to replace the need for riders to recharge their electric scooters.
Instead of seeking out charging infrastructures like a conventional electric motorcycle or e-scooter, riders simply roll up to a Gogoro GoStation and swap a pair of depleted batteries for new ones.
The process takes as little as six seconds, meaning riders can essentially instantly “recharge” and be on their way.
The massive deal announced today would exceed US $1.5 billion in investment from Gogoro and include financial incentives and support from Maharashtra following a previous MOU announcement from Maharashtra.
Honorable Chief Minister Shri. Eknath Shinde explained that the announcement further underscores Maharashtra’s dedication toward electrification.
As the leading State in India for electric vehicles, Maharashtra is demonstrating our strong commitment towards sustainable transportation for all. We are creating a smart battery ecosystem with Gogoro, a leader in sustainable vehicles and electric fuel technologies. As part of the project, Gogoro will establish its India vehicle, smart battery and battery swapping station manufacturing in Maharashtra and deploy their industry leading smart battery infrastructure in the state, generating approximately 10,000 direct and indirect jobs.
The Deputy Chief Minister of Maharashtra, Devendra Fadnavis, further expanded on the massive project’s goals:
In line with the vision set by our Hon Prime Minister Shri. Narendra Modi, Maharashtra is fully committed to help build a green and sustainable future for our state. I am delighted to announce that today we approved an ultra mega project with Gogoro, a Nasdaq listed, global two-wheel EV company. Gogoro aims to produce two-wheel EV’s that utilize its open and accessible battery swap technology which is absolutely state of the art. We have provided Gogoro with the necessary financial and other key incentives to usher in a new paradigm shift in the way we will move people across metros and cities. The EV revolution is gripping the world and our state is not far behind in its early adoption. With this project we anticipate creating a fertile ecosystem for local manufacturers who will avail the necessary tech transfer and help create world class products for our citizens.
Gogoro intends to build smart energy infrastructure in Maharashtra that is both open and accessible, establishing battery swapping and smart battery stations as a leading source for mobility and energy storage. The company has already demonstrated the success of its thousands of battery swap stations in its domestic market of Taiwan, where hundreds of thousands of batteries are swapped daily in electric scooters built by Gogoro as well as electric scooters by other manufacturers to fit Gogoro’s batteries.
Gogoro’s battery-swapping network and electric scooters have expanded into several other countries, including Korea, the Philippines, China, Israel, and Singapore.
Both the State of Maharashtra and Gogoro described how the deployment is expected to accelerate job growth throughout the smart energy, electric vehicle, and sustainability value chain.
Gogoro’s CEO and founder, Horace Luke, described how Gogoro’s success in Taiwan led to its most massive overseas expansion yet and how that expansion will directly benefit the statewide economy in Maharashtra.
Building on Gogoro’s successful deployment of an open battery swapping network that supports multiple vehicle makers in Taiwan, we plan to proceed in partnership with the Maharashtra government to bring Gogoro vehicles, smart batteries and swap stations to India starting with the state of Maharashtra. We are focused on creating a domestic supplier ecosystem that allows for domestic growth and foreign market expansion. It is essential that we transform industries and infrastructure to successfully enter a new era of clean, connected mobility. We are excited to be partnering with the Maharashtra government in its vision to transform urban transportation and provide a better path forward for its residents and businesses.
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Can Kia’s first electric sedan live up to the hype? After launching the EV4 in Korea, we are finally seeing it in action. A new test drive of the EV4 gives us a closer look at what to expect as Kia prepares to take it global. Here’s how it went down.
Kia EV4 test drive: The good, the bad, and the ugly
Kia claims the EV4 will “set a new standard in electric vehicles” with long-range capabilities, fast charging, and a sleek new design.
The electric sedan features a unique, almost sports-car-like profile with a long-tail silhouette and added roof spoiler.
Kia claims it is “the new look of a sedan fit for the era of electrification.” Despite its four-door design, the company is calling it a new type of sedan.
The design is not only eye-catching, but it’s also super efficient. With a drag coefficient of just 0.23, the EV4 is Kia’s most aerodynamic vehicle so far, enabling maximum driving range and efficiency.
Kia opened EV4 orders in South Korea in March, starting at about $29,000 (41.92 million won). It’s available with two battery options: 58.2 kWh and 81.4 kWh. The entry-level “Standard Air” model, powered by the 58.2 kWh battery, is rated with up to 237 miles of driving range.
The “Long-Range Air” variant starts at 46.29 million won ($31,800) and has a driving range of up to 331 miles (533 km) in Korea.
With charging speeds of up to 350 kW, the EV4 can charge from 10% to 80% in around 29 minutes. The long-range battery will take about 31 minutes.
The interior boasts Kia’s latest ccNC infotainment system with a 30″ Ultra-wide Panoramic Display. The setup includes dual 12.3″ driver displays, navigation screens, and a 5″ air conditioning panel.
With deliveries kicking off, we are seeing some of the first test drives come out. A review from HealerTV gives us a better idea of what it’s like to drive the EV4 in person.
Sitting next to Kia’s first pickup, the Tasman, the reviewer mentions the EV4 feels “particularly newer.” The test drive starts around the city with a ride quality similar to that of the K5, if not even better.
As you can see from the camera shaking, the ride feels “a bit uncomfortable” on rough roads. However, on normal surfaces and speed bumps, Kia’s electric sedan “feels neither too soft nor too hard,” just normal. The reviewer calls the EV4’s overall ride quality “quite ordinary” with “nothing particularly special about it.”
When accelerating, the electric car was smooth in the beginning but felt “a little lacking in later stages.” Overall, it should be enough for everyday use.
One of the biggest issues was that the rear window appeared too low. The rear brake lights also stick out, making it hard to see clearly through the rearview.
Keep in mind that the test drive was the Korean-spec EV4. Kia will launch the EV4 in Europe later this year and in the US in early 2026.
In the US, the EV4 will include a built-in NACS port for charging at Tesla Superchargers and a driving range of up to 330 (EPA-est) miles. Prices will be revealed closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Would you buy Kia’s electric sedan for around $35,000? Or would you rather have the Tesla Model 3, which starts at $42,490 in the US and has up to 363 miles of range? Let us know in the comments.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla Model Y RWD in the US, Cybertruck bait-and-switch, Rivian earnings, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):
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Hyundai’s 2026 IONIQ 9 EV is launching with a lease deal, affordable rates, and a big rebate, making the automaker’s largest EV a competitive choice.
Leasing a 2026 Hyundai IONIQ 9
CarsDirect reports that, according to a bulletin sent to dealers, the 2026 Hyundai IONIQ 9 S is $419 for 36 months with $4,999 due at signing based on 10,000 miles a year. That makes the effective cost of the nationally available lease $558 monthly.
That’s slightly more expensive than the Model Y Long Range Rear-Wheel Drive, which debuted this week. It can be leased for $399 with $4,093 at signing or $513 per month. That’s a price difference of only $45 per month, potentially making the IONIQ 9 a better value, since Hyundai’s first three-row electric SUV gives you more car for the money.
The IONIQ 9 offers 335 miles of driving range, fast charging capabilities, room for seven, and prices start at $60,555.
Financing and incentives
Hyundai isn’t offering rebates on the IONIQ 9, but good news – it qualifies for the $7,500 federal EV tax credit because it’s manufactured in Georgia.
The IONIQ 9 has national financing rates as low as 1.99% APR for up to 60 months. For a lower monthly payment, there’s a 72-month option at 2.99%. Compare that to the most affordable 2026 Tesla Model Y, which has a 72-month option at 5.49% APR, and it shows what a good deal it is.
There’s also a $5,000 financing incentive available, but you have to choose a loan at a higher interest rate to get it. The $5,000 Dealer Choice Bonus helps lower prices if you finance at 5.99% for 60 months and 6.59% for 72 months.
However, it’s cheaper to opt for the 1.99% APR deal instead of the Dealer Choice Bonus and higher interest rate; CarsDirect found that the 1.99% APR could save IONIQ 9 buyers up to $2,200:
On a 5-year loan at 1.99%, we estimate the IONIQ 9 would cost $63,084. With the APR and rebate combo, it would cost $63,783. Here, opting for the lower rate would save buyers roughly $700. But that’s not the whole story. That’s because Dealer Choice offers, available on many Hyundais, allow a mark-up of up to 1%.
As a result, the $5,000 rebate and higher rate of 6.99% could cost buyers over $2,200 more than simply taking the lower rate to begin with.
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