Horace Luke, the founder and CEO of the world’s leading electric vehicle battery-swapping company Gogoro, just announced his resignation. The move comes during a period of growing financial losses for the company and follows accusations of potential subsidy fraud in its domestic market of Taiwan.
The Taipei Times described the announcement as a bombshell. Luke had built Gogoro largely from the ground up while maintaining major influence over the company’s designs and operations, from minute details to major strategy.
“After much reflection, I have made the difficult decision to step down from my role as CEO and chairman of Gogoro,” Luke explained in the announcement. “This decision has not been easy, but I believe it is the right time for the company and I to transition leadership as we embark on the next phase of growth. My confidence in Gogoro’s bright future remains steadfast. I will always be Gogoro’s biggest advocate, and I look forward to seeing the company continue to grow and succeed from a new vantage point.”
Luke nor the company provided a reason for the departure.
Gogoro’s board appointed Henry Chiang as the interim CEO. Chiang served as the general manager of Gogoro since 2022 and head of the company’s sharing operations GoShare team from 2018 to 2022.
The Board also appointed Tamon Tseng as the new director and Chairman of the Board to replace Luke.
Gogoro’s electric scooters and iconic green-on-black batteries have become famous around the world, demonstrating hundreds of thousands of battery swaps a day from a large user base. The system has been touted as the first practical battery-swapping initiative to demonstrate successful operation on a massive scale, counting hundreds of millions of battery swaps to date.
However, during its period of rapid growth and international expansions over the last several years, the company has seen ballooning financial losses.
Reports also began swirling last week of subsidy fraud, with accusations that Gogoro received subsidies from the Taiwanese government intended for domestic manufacturers while failing to disclose that some of its components were actually produced in China.
Gogoro, which trades on the NASDAQ, filed a Form 6-K report with the SEC after Luke resigned, explaining that the company had conducted an internal investigation into the accusations of subsidy fraud.
“During such investigations, the Company has identified certain irregularities in supply chain which caused the Company to inadvertently incorporate certain imported components in some of its vehicles,” says the filing. “The Company has reported the irregularities in supply chain to the local authorities and is fully cooperating with the local authorities in their investigations, while also continuing with its internal investigations.”
Electrek’s Take
Well, this is not the news I was hoping to cover today.
I’m a Gogoro rider myself (my Gogoro is my and my wife’s daily driver vehicle) and have long been a fan of the company’s technology. Gogoro’s spread around much of Asia and, more recently, into the Middle East and South America speaks to how well the technology works – something I’ve known from using it each day.
But running such a massive operation is not cheap, especially when investing in massive local factories for the scooters and the batteries. Gogoro’s own statement to the SEC describes its use of foreign-made components in some vehicles as “inadvertent,” and we haven’t yet heard from Luke on whether there was any wrongdoing. But as the leader of a company, especially one that proudly involves himself in nearly every aspect and regularly pores over the small details, the buck obviously has to stop with him.
Hopefully, Gogoro can move past this, as the company’s electric scooters and important battery-swapping technology have proven to be such a major weapon in the reduction of emissions in countries all over Asia that are heavily reliant on combustion engine motorcycles for transportation. Many Westerners have asked me when Gogoro would be expanding to Europe and North America, and so the international demand is obviously there. Now we just need to hope Gogoro is able to sort things out and continue on with its important mission of bringing affordable, high-tech electric vehicles and battery-swapping technology to areas of the world where it makes the biggest difference.
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In honor of Black Friday and Cyber Monday, eBike specialist Buzz Bicycles is offering an exclusive discount for Electrek readers on its Centris Class 2 Folding Bike.
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Buzz Bicycles is back with an exclusive new deal
Buzz Bicycles has been a mainstay on Electrek for a few years now, as we have covered several of its electric bikes, which suit riders of all skill levels and help them “Buzz through life.” Buzz is an omnichannel eBike brand that prioritizes direct-to-consumerism and has found success in its mission to deliver ultimate transportation solutions at an excellent value for its growing base of eBike enthusiasts.
The company strives to deliver riders a “Wow moment,” which is usually brought on as they feel the pedal assist function kick in. This feature delivers all you need to conquer hills and longer rides while enjoying new adventures with friends.
The Buzz team has utilized decades of industry experience into its portfolio of eBikes, all conceived and designed in Dayton, Ohio. The company, which operates under the United Wheels umbrella alongside brands like Huffy Bicycles, Niner Bikes, and Batch Bicycles, has adopted an ethos that the freedom of riding should be fun and accessible for everyone, no matter what adventure lies ahead.
By leveraging the global presence of its parent company, Buzz Bicycles can make good on its promise to deliver affordable eBikes that are comfortable, powerful, and safe, much like the Centris Folding eBike, which is as versatile and compact as it is fun. The exclusive deal Buzz Bicycles is offering on the Centris makes it even more fun. You can take advantage of it below.
But first, you’ll want to learn about the capabilities of this foldable eBike to truly understand its value, as well as what accessories are available to level up your purchase.
The Buzz Centris is an easy to ride foldable eBike for all
The Buzz Centris is a Class 2 Folding eBike built for comfort and convenience no matter where you take it. At full size, the Centris’ step-through frame offers a low step-over height of just 16 inches, perfect for riders of all sizes, enabling easy transitions from ground to saddle for its riders.
When you’re not riding, the Centris from Buzz Bicycles folds neatly to 34 inches in length and 22 inches in height, making it easy to store at home or to carry in a vehicle on the way to your next ride. Furthermore, the assembled bike only weighs 68 pounds, making it easy to transport.
You can easily navigate tougher terrain on the Centris thanks to the eBike’s 20″ x 4″ knobby tires and front suspension. The bike is powered by a 48V, 500-watt-hour (Wh) battery pack that can propel it to a top speed of 20 mph for an all-electric range of up to 40 miles on a single charge.
Additionally, this folding model from Buzz Bicycles comes equipped with both a front and rear rack, offering versatile cargo-carrying options so you can customize your ride with a variety of Buzz accessories.
Like all Buzz eBikes, the Centris is tested and deemed compliant with the UL2849 standard. This standard covers the entire electric bicycle system, including the motor, battery, controller, and charger, offering the highest safety standards for added peace of mind.
The Centris Class 2 folding bike from Buzz is available in two colors: Gloss White or Matte Black. This $1,199 eBike is currently reduced to $899 – and you can score an additional $200 off with this exclusive promo, but only for a limited time.
With the purchase of any Buzz eBike, including the Centris, you are guaranteed the following:
10-year limited warranty (lightweight aluminum frame protected for full 10 years)
2-year limited warranty (electrical components covered by 2-year warranty for peace of mind)
6-month limited warranty (additional bike components protected by a 6-month warranty)
Are you interested in the Centris from Buzz Bicycles? You’ve come to the right place. Starting today, while supplies last, you can take advantage of an additional $200 off the sale price by using promo code “ELECTREK200.“ That’s a $500 discount in total!
We highly recommend perusing Buzz’s entire lineup of products. They are designed for commuters and casual riders, with technology and features that help you quickly feel comfortable riding. If you are new to the world of E-transportation, Buzz Bicycles is the brand for you.
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With up to 500 km (310 miles) of all-electric range, the new Mercedes eActros 600 electric semi truck was designed for long-haul trucking – and now, it’s officially in production at the company’s Wörth plant in Bavaria.
“The start of series production of our eActros 600 is a further proof of our ambition to transform the industry,” offers Karin Rådström, CEO of Daimler Truck. “With a range of 500 kilometers on a single battery charge, our eActros 600 is addressing the long-haul segment in Europe which is responsible for two-thirds of CO2 emissions from heavy road freight. Our battery-electric long-haul truck will therefore make a real difference.”
In addition to the 600’s additional range, the newest eActros marks another milestone by becoming the first electric Mercedes semi to be manufactured on a single line (the eActros 300/400 and eEconic leave their standard production lines to have their electric drive components installed at Mercedes’ Future Truck Center in Wörth).
“With the start of series production of the eActros 600, we are expanding our Wörth product portfolio with an important vehicle for the future,” says Andreas Bachhofer, Head of the Wörth site and Production at Mercedes-Benz Trucks. “Construction of this first battery-electric truck made in Wörth will be fully integrated into the existing assembly hall, flexibly alongside the manufacturing of combustion-engine trucks. This means that we are ideally positioned for the production of larger quantities. Our production team is well prepared for the successive ramp-up over the coming months.”
The new electric semi truck features a 600+ kWh battery (hence, eActros 600) that sends power to a new, highly efficient electric drive axle developed in-house by Mercedes-Benz, good enough to “be able to travel significantly more than 1,000 kilometers per day. This is made possible by intermediate charging during the legally prescribed driver breaks – even without megawatt-charging.”
Ben Maclean is the 24-year-old owner of a land reclamation business called Down to Earth Developments that specializes in transforming unusable or degraded land into more productive plots that can be put to residential or agricultural use – and Ben is using these hybrid machines to make reclamation an even more sustainable enterprise.
Maclean is bucking the trend of young people avoiding construction and agriculture and making a name for himself throughout the UK. Soon after becoming the youngest customer to order one of Caterpillar’s first D6XE electric dozers earlier this year. Ben was so impressed with the big electric drive CAT that he ordered another one.
It’s just arrived – and Ben seems pretty excited about it.
“It’s not just the electric drive using less fuel, but the all-round technology package you get with CAT machines that saves costs in quite a few ways,” explains Maclean. “We also have two CAT 323 hydraulic excavators and their grade assist and payload technology help us get the job done that little bit quicker.”
“Sustainability is quite literally what they do,” says Ryan Trafford, manager at CAT’s UK distributor, Finning. “Customers like Ben are the first generation to have grown up understanding the importance of making responsible decisions, with sustainability being at the heart of that.”
Here’s hoping more young people bring their sustainable priorities to the various trades as they come up.