Gogoro, the battery swapping giant known for its iconic green and black batteries, has just announced that it is expanding to yet another country. The Philippines will be the next destination on Gogoro’s growing world map of battery-swapping destinations.
In Gogoro’s domestic market of Taiwan, thousands of battery swap stations hold around one million batteries that have been used in over 350 million battery swaps.
That massive amount of real world validation at home has helped Gogoro spread its battery swapping systems internationally. The company’s modus operandi has been to seek strategic partnerships with local heavy-hitters that can benefit from Gogoro’s battery swapping standard and its wide array of sleek electric scooters.
This time Gogoro is teaming up with Globe’s 917Ventures and Ayala Corporation. The companies are combining forces to focus on introducing an eco-friendly alternative to traditional fossil fuel-powered vehicles for the last mile delivery industry in the Philippines.
As Gogoro’s founder and CEO Horace Luke described:
“Gogoro is honored to have the support of the Philippine’s Department of Energy (DOE) and the Department of Trade and Industry (DTI) to kick start this new smart mobility movement in Manila that utilizes Gogoro’s intelligent battery swapping, a new generation of EV refueling. Through our collaboration with Globe, 917Ventures and Ayala Corporation, we plan to unlock incredible environmental and sustainability benefits and introduce new smart mobility efficiencies for businesses by improving how they manage their fleets and deliveries.”
Horace explained in a call with Electrek that the Philippines is unique from other markets that Gogoro has entered recently, such as the large two-wheeler markets of Indonesia and India. Compared to Indonesia’s two-wheeler market share of over 40%, the Philippines is closer to around 7%.
But the Philippines suffers from crippling transportation issues that often result in multi-hour commutes across several forms of public transportation. Distributing sustainable, efficient and effective personal transportation on battery swapping electric scooters could be a major key in solving the country’s transportation hardships.
That’s part of the longer term goal, and Horace is visibly excited about the ways that Gogoro and its partners can expand access to electric scooters in the country. But the company is starting with a more centralized focus on last mile delivery vehicles in Manila as a way to feel out the market.
“These types of B2B riders end up doing 5-6x the number of miles in a day compared to private consumers,” explained Horace. “That’s what we need to quickly calibrate this new market.”
The Manila pilot will start in Q1 2023, where delivery riders will use Gogoro’s Smartscooters as well as the company’s GoStations for battery swapping.
A pair of batteries is usually enough for around 80-120 km (50-75 miles) of range, depending on riding conditions. When those batteries begin to run low, riders simply roll up to a GoStation and swap in freshly charged batteries in a matter of seconds. The depleted batteries are recharged in the GoStation and then are ready for another scooter.
It’s a system that offers a number of advantages for Manila’s delivery riders, such as reducing the need for parking spots during long charging periods, as Managing Director of 917Ventures Vince Yamat explained:
“We are committed to helping solve the climate crisis by introducing Gogoro to logistics businesses, helping them in their sustainability efforts. In addition, the Swap & Go technology will enable riders to be fully charged in just seconds and therefore eliminate the need for parking spots. Hopefully, this technology will encourage more Filipinos to switch to EV.”
The success of Gogoro’s Smartscooters and battery swapping network has led to quick electrification in Taiwan, especially in key areas of commercial deliveries.
As explained by Director of the Department of Energy’s Energy Utilization Management Bureau in the Philippines, Patrick Aquino, that’s a success that the Philippines hopes to reproduce:
“More than 25% of Taiwan’s quick commerce deliveries and almost all of their electric deliveries are powered by Gogoro’s battery-swapping technology, and we see this solution being most beneficial to a densely populated region like Metro Manila, which is also the hub of business districts. The success of this pilot will pave the way for a new sustainable business model in other cities in the country as well. Philippines can learn from Taiwan’s experience.”
That’s a sentiment shared by Taiwan’s Vice Minister of the Ministry of Economic Affairs Chuan-Neng Lin:
“Gogoro’s leadership in battery swapping, vehicle design, and innovation has transformed two-wheel mobility in Taiwan and fostered a new smart mobility industry of eco-friendly businesses and end-users. We look forward to businesses and riders in the Philippines experiencing the benefits of Gogoro’s smart mobility like we have in Taiwan. Together, with Gogoro, we can all reach our net-zero carbon emissions goals.”
Gogoro’s success in Taiwan is already being reproduced in other countries as the company continues its global expansion.
Just after Tesla launched its ‘Full Self-Driving’ package, in China, the country announced that it cracking down on automated driving features with new limitations.
Most of the features under Tesla’s FSD package have been limited to North America due to Tesla training its system for this market first and due to regulatory limitations in other markets.
Shortly after Tesla launched FSD in China, the American automaker had to pause its rollout due to updated requirements from China’s Ministry of Industry and Information Technology (MIIT).
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Now, MIIT has confirmed that it held a meeting with automotive industry stakeholders yesterday, and it has further clarified the rollout of advanced driver assistance (ADAS) features.
Car companies were asked to refrain from using words like “self-driving,” “autonomous driving,” “smart driving,” “advanced smart driving,” and instead use the term “combined assisted driving” to avoid misleading consumers, according to the minutes of the meeting.
Tesla had already changed the name from ‘Full Self-Driving’ to “Intelligent Assisted Driving” following the launch in China.
Based on a statement from MIIT, the meeting focused on enforcing the previously announced updated requirements that launched right after Tesla introduced FSD in China (translated from Chinese):
The meeting emphasized that automobile manufacturers must deeply understand the requirements of the “Notice”, fully carry out combined driving assistance testing and verification, clarify the system functional boundaries and safety response measures, and must not make exaggerations or false propaganda. They must strictly fulfill their obligation to inform, and truly assume the main responsibility for production consistency and quality safety, and truly improve the safety level of intelligent connected vehicle products.
Regulators want automakers to reduce the frequency of new software updates and instead focus on extended testing before releasing new updates.
The last few months have been quite chaotic for ADAS systems in China. Along with Tesla’s FSD release, several Chinese companies released their systems, including BYD, Xiaomi, and Huawei.
Xiaomi reported a fatal accident in which its ADAS system was active just seconds before the crash, and Tesla owners using FSD racked up thousands of dollars in fines due to FSD making mistakes.
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The company said that in acquiring Worldpay, which FIS had purchased in 2019 before later selling a majority stake, it’s expanding its reach and will be able to serve over 6 million customers across more than 175 countries, enabling $3.7 trillion in annual payment volume.
In selling its Issuer Solutions unit to FIS for $13.5 billion, Global Payments is divesting a unit for back-end financial processing that’s long been viewed as a stable provider of growth. In the end, Global Payments is going bigger in providing payments services to merchants, while FIS is focusing on issuer processing.
FIS bought Worldpay for about $35 billion in 2019 and sold most of its stake last year to GTCR.
Global Payments said on Thursday that it obtained committed bridge financing and plans to issue $7.7 billion of debt “to replace the bridge commitment and refinance Worldpay’s outstanding debt.”
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Global Payments CEO Cameron Bready called it a “defining day,” and said the transaction gives the company “significantly expanded capabilities, extensive scale, greater market access and an enhanced financial profile.”
But Wall Street was less enthusiastic. While the acquisition gives Global Payments a larger footprint in payment processing, analysts at Mizuho described it as a strategic step backward.
Mizuho reiterated its neutral rating on the stock, warning that “the business could be seeing more meaningful margin pressure than investors acknowledge.” The analysts wrote that FIS won the trade, getting the “crown jewel” with Global Payments getting “more of the same.”
FIS shares rose more than 8% on Thursday.
Both deals are expected to close in the first half of 2026, pending regulatory approval.
The Tesla Cybertruck is in crisis. The automaker is still sitting on a ton of old inventory, which it is now heavily discounting, and it is throttling down production to try to avoid building up the inventory again.
When launching the production version of the Cybertruck in late 2023, Tesla CEO Elon Musk claimed that the vehicle program would reach 250,000 units a year in 2025:
“I think we’ll end up with roughly a quarter million Cybertrucks a year, but I don’t think we’re going to reach that output rate next year. I think we’ll probably reach it sometime in 2025.”
We are now in 2025, and Tesla is expected to currently be selling the Cybertruck at a rate of about 25,000 units a year – a tenth of what Musk predicted.
Earlier this month, we reported that Tesla began the second quarter with 2,400 Cybertrucks in inventory, valued at over $200 million.
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This is a real problem for Tesla as many of those Cybertrucks are older 2024 model year units not eligible for the federal tax credit, and even some ‘Foundation Series’, which Tesla stopped building in October 2024 – meaning that Tesla is sitting on some 6-month-old trucks in some cases.
Tesla is now offering deeper discounts on the new inventory of Cybertrucks. The discounts can go as high as $10,000, but the average one is closer to $8,000, which is more than the tax credit:
Despite Tesla’s efforts, the automaker has only reduced its Cybertruck inventory by about 100 units since the beginning of the month.
Tesla is now further throttling down production of the Cybertruck at Gigafactory Texas, according to a new report from Business Insider.
According to two Tesla workers speaking with BI, the automaker has reduced its Cybertruck production teams and now operates at a fraction of its original capacity. It also moved some Cybertruck production workers to Model Y production at the plant.
One of the workers said:
“It feels a lot like they’re filtering people out. The parking lot keeps getting emptier.”
When it comes to the Cybertruck program, it sounds like Tesla is lowering production even further.
Last week, Tesla launched a new version of the Cybertruck in an attempt to boost demand, but it has been poorly received due to the automaker’s removal of many essential features.
Electrek’s Take
There are a lot of other automakers that would have already given up on the Cybertruck ith these results, but not Tesla. Musk is not one to admit defeat easily.
However, Tesla is running out of options.
The new Cybertruck RWD was a desperate attempt, and I doubt it will work. Now, it sounds like Tesla is further throttling down production – virtually confirming that the new trim didn’t help.
The next step would be a complete production pause.
Again, I don’t think Musk wants to admit defeat, but at some point, it’s inevitable.
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